CHARLOTTE, N.C., Nov. 16, 2016 /PRNewswire/ -- AvidXchange™, leading provider of accounts payable and payment automation solutions for midsize companies, today announced that it ranked 268 on Deloitte's Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America. A key criteria for designation is percentage fiscal year revenue growth from 2012 to 2015, and AvidXchange experienced a 275 percent growth during this time period. "We are honored to receive this prestigious ranking for our revenue growth of 275%. I strongly feel that our growth is directly tied to our focus on innovation, and our decisions to align ourselves with industry-leading partners and investors," commented Michael Praeger, CEO and Co-Founder of AvidXchange. "We are committed to delivering cutting-edge solutions in the payables space to solve business problems and create efficiencies, and we have invested in top talent to create what's next for accounts payable automation and to facilitate a great client experience as we grow," added Praeger. "Today, when every organization can be a tech company, the most effective businesses not only foster the courage to explore change, but also encourage creativity in using and applying existing assets in new ways, as resourcefully as possible," said Sandra Shirai, principal, Deloitte Consulting LLP and U.S. technology, media and telecommunications industry leader. "This ingenious approach to innovation calls for the encouragement of curiosity and collaboration both within and outside the office walls." "This year's Fast 500 winners showcase that when organizations are open to diverse perspectives and insights, they are able to create an environment for their employees and customers to see the possibilities and ingenious solutions that might lie ahead," added Jim Atwell, national managing partner of the emerging growth company practice, Deloitte & Touche LLP. "Entrepreneurial environments foster change and innovation within businesses, and we look forward to watching these companies continue to drive change across all sectors." AvidXchange previously ranked as a Technology Fast 500™ award winner in 2014 and 2015.