AvidXchange makes life simpler. (Technology Update)."Our challenge is to enable property managers to do their jobs differently, without making their lives more difficult," claims Scott Cardais, senior vice president of product development al AvidXchange, an e-purchasing business. And isn't that also our collective challenge? How car we make change easier? Simplify my life. Please! After all, as Cardais points out, nothing is quite so simple as picking up the phone and saying to a supplier, "Hey, Sally, please send me three more widgets." To smooth the transition to an electronic system, AvidXchange enables property owners to do business locally with existing vendors -- AvidBid (for conducting online bidding), AvidBuy (for the requisitioning process), and AvidPay (for electronic invoicing). AvidXchange is not a middleman mid·dle·man n. 1. A trader who buys from producers and sells to retailers or consumers. 2. An intermediary; a go-between. between owners and suppliers. You continue to deal directly with your traditional vendors. AvidXchange simply provides the software to connect the two of you. The cost of AvidXchange is roughly $0.03 per SF the first year and $0.01 per SF per year after that. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Cardais, all you need to save is 3% of the hard cost of your goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. in the first year in order to recoup your investment. Cardais argues that, in the current economic environment, any new business process must pay for itself with real cost savings, not reductions in "soft costs" like "administrative efficiencies. He states that customers normally receive a much quicker payback Payback The length of time it takes to recover the initial cost of a project, without regard to the time value of money. than twelve months, frequently with savings of 10-20%. AvidXchange customers include Carramerica, Mills Corporation The Mills Corporation was a publicly traded real estate investment trust headquartered in Chevy Chase, Maryland, United States, acquired on April 3, 2007 by an investment group comprised of Simon Property Group and Farallon Capital Management. , and Transwestern with active operations in Atlanta, Chicago, Washington, DC, and New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . |
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