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 ERP partners are proving a strong lead generation source of AvidXchange, according to CFO s During this week’s webcast for earnings for the year ended December 31, the executive also noted the number of integrations with ERP packages coming online for the payments vendor.

For 2022, AvidXchange cut its loss by 54.9 percent to $101.3 million from $224.3 million for 2021. Last year’s revenue of $316.4 million was 27.4 percent higher than $248.4 million a year before. The bottom-line improvement came as the company held down the growth of operating expenses to $285.9 million, an increase of 11.2 percent from $257.1 million in 2021.Asked about an economic slowdown, Wilhite said,” We did see during the fourth quarter some emerging caution in spending for our buyers in all our verticals, adjusting discretionary spending for advertising, marketing, professional services. However, that caution did not show in the horizontal ERP market. In terms of channel partners such as NetSuite and Acumatica. “We are seeing very strong engagement,” Wilhite said. “Top of funnel is exceeding our expectations.” He also noted “the biggest payload” of new ERP integrations that will be delivered this year.

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