AvidXchange

AvidXchange

Accounts payable & payment automation solution

4.6/5 (27 reviews)

AvidXchange Overview

AvidXchange is a cloud-based accounts payable and payment automation solution which offers tools for invoice data capture, invoice processing, vendor payments, reporting, and more. The system integrates with a range of other business softwares and accounting applications, including Sage, QuickBooks, NetSuite, Microsoft Dynamics, and more.

AvidXchange automatically captures data from invoices submitted electronically by vendors, either by email or on the web. Vendors are automatically sent email confirmations when invoices are received, and if vendors only work with paper invoices, these can be submitted using a secure lockbox, and are converted to electronic format, allowing users to receive all of their invoices electronically. Data is automatically imported into the system once an invoice is received, removing the need for users to manually enter invoice data. Unlimited custom enforceable invoice approval workflows can be created to route invoices to specific departments or users, and account codes can be automatically assigned, including allocation codes.

With AvidXchange, vendors can be paid electronically while still maintaining existing approval workflows and banking relationships. Payment approval workflows can also be customized, with options for multiple approvers and step-level approvals. Payment and approval statuses can be viewed at any time. Users can also create over 50 standard reports with AvidXchange, or create their own custom reports, including accounts payable activity reports, missing invoice reports, and accrual reports. Reports can be scheduled, and subscribed to based on user authorization levels.

Pricing

Starting from
N/A
Pricing options
Free Trial
Subscription
Value for money

Devices

Business size

S
M
L

Markets

Canada, United States

Supported Languages

English

AvidXchange Reviews

Overall rating
4.6/5
89% positive reviews
19
Excellent
5
Very good
1
Average
1
Poor
1
Terrible
Verified Reviewer

I have been using Avid for about 4 years to review and approve various departmental invoices.

Used Daily for 2+ years
Reviewed on 2018/07/26
Review Source: Capterra

Pros

I like that it is easy to find invoices already in the system. I can search by vendor name or invoice number and the invoice and it's history will be retrieved right away.

Cons

What I like least about this software is that once the invoice has been approved and batched to be paid on a certain date, there really is no way for you to know if the check has been cut or sent until the accounts payable department manually updates each invoice with it's check image and number. Wish there was a way for it to be automatically added to Avid and where you can check on the status right away.

Response from AvidXchange

Thank you for the review! Great to see that we're helping your AP process be more efficient.

I would love to learn more about the challenges you're having with check payments so we can make sure our product team is aware. Please feel free to reach out. Thank you!

Rating breakdown

Value for Money
Ease of Use
Customer Support

Kylee L.

Invoices and payments made easy!

Used Weekly for 2+ years
Reviewed on 2019/07/25
Review Source: Capterra

Getting check requests processed has never been easier! AvidXchange has made invoice approval processes and workflows so much more efficient and environmentally friendly. Because everything is automated through the software, we have been able to better track and approve our invoices. We would sometimes have invoices lost in the processing phases when we did everything through fax and on paper. Now, because our workflows are streamlined within the software, we have all of that invoice data at our fingertips.

Pros

AvidXchange is one of the easiest software platforms I have ever had to learn when it comes to invoicing and payments. Though I am just a user and not an administrator, I do have to send in a lot of check requests and payment requests for our customers and the charities we support. AvidXchange has streamlined this process and eliminated a lot of faxing and paper waste that we once had with our company.

Cons

As a user, I do not have a single complaint with this software. Its incredible functionality makes it great for even the most inexperienced of users. Our entire Marketing team has raved about how easy it is to send invoices and have them processed for review.

Rating breakdown

Value for Money
Ease of Use

Likelihood to recommend

10.0/10
Grace L.

Avoid at All Costs

Used Daily for 2+ years
Reviewed on 2019/06/13
Review Source: Capterra

Pros

There is not much we liked about using this software. The pricing is incredibly high when used with multiple bank accounts. We used the software to manage invoices for condo associations and if you are a property manager, we would highly recommend using Appfolio instead. The user interface is better and there is no charge for bank accounts or for invoice uploads. Plus the cost per invoice is much better in Appfolio.

Cons

The customer support is fairly slow and makes it really hard to solve issues that come up. It's not uncommon for a customer support ticket to remain open for weeks and to need to follow up multiple times. The straw that broke the camels back for us was when we transitioned out, we staying the software for a few days of the next month. The company would not prorate our bill even though we did not use the system in the final month. Bad customer service until the very end.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend

0.0/10
Verified Reviewer

An Efficient Invoicing Tool

Used Daily for 1+ year
Reviewed on 2019/05/17
Review Source: Capterra

Avid has been a solid tool for my company to make purchase orders and pay invoices.

Pros

It's relatively easy to use and I really like the comment feature that allows you to easily communicate with the next approvers in the workflow. This communication feature is especially helpful when you are working with people in other offices. The Avid processors are efficient at extracting data from invoices when they are sent in which saves data entry time.

Cons

Setup and implementation took longer than we would have liked and I personally don't like the interface that much. In addition I've experienced many times when the file was too large (above 5 MB?) for Avid to upload which was frustrating because expense reports often are large files.

Rating breakdown

Ease of Use

Likelihood to recommend

8.0/10
Tonya Y.

Very helpful and seemed like the most efficient and provided the most ways to obtain info.

Used Daily for 2+ years
Reviewed on 2017/09/16
Review Source: Capterra

Efficiency, workflow and fraud control, reduced data entry, centralized invoice processing and accuracy.

Pros

Customer service, efficiency, data retainage, ease of finding invoices for vendors and auditors, fraud protection and frequent updates to correct any bugs that are found in the system.

Cons

That utility cutoff notices are placed in the statement queue and that you are not able to look up avengers invoice by the account number.

Response from AvidXchange

Hi Tonya,

Thanks for the great review!

I will pass on your feedback to our Utility team.

If you have any questions feel free to reach out to me personally: [email protected]

Thanks again!

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend

10.0/10

AvidXchange Pricing

Starting from
N/A
Pricing options
Free Trial
Subscription
Value for money

Pricing information is available on inquiry.

AvidXchange Features

  • Accounting Integration
  • Automatic Notifications
  • Customizable Reporting
  • Electronic Payments
  • Invoice Processing
  • Workflow Management

  • API
  • Accounting Management
  • Activity Dashboard
  • Auditing
  • Billing & Invoicing
  • Compliance Management
  • Data Import/Export
  • Expense Tracking
  • Financial Analysis
  • Invoice Management
  • Multi-Currency
  • Real Time Data
  • Reporting & Statistics
  • Third Party Integration

Additional information for AvidXchange

Key features of AvidXchange

  • Accounting system integrations
  • Ad hoc & customizable reporting
  • Alerts for due payments
  • Audit trail
  • Automated account code assignment
  • Automated bill payments
  • Automated email confirmations to vendors
  • Central data repository
  • Custom invoice approval workflows
  • Custom payment approval workflows
  • Electronic invoice capture
  • Invoice submissions by email & web
  • Invoice tracking
  • Payment controls
  • Payment tracking
  • Status tracking

Benefits

  • Vendors can be paid electronically while still maintaining current banking relationships and existing approval processes.

  • Payment approval processes can be created with options for multiple approvers and step-level approvals.

  • Over 50 standard billing and invoice reports are built-in, and custom reports can be defined on an ad hoc basis, or scheduled for regular reporting.

  • Invoice approval processes can be automated, enabling users to electronically track invoices through paperless workflows.

  • Vendor invoices can be submitted electronically by web or email, and data is automatically imported into the system when an invoice is received.

  • AvidXchange FAQs

    Below are some frequently asked questions for AvidXchange.

    Q. What type of pricing plans does AvidXchange offer?

    AvidXchange offers the following pricing plans:

    Pricing model: Subscription

    Free Trial: Not Available

    Pricing information is available on inquiry.

    Q. What are the main features of AvidXchange?

    AvidXchange offers the following features:

    • Accounting system integrations
    • Ad hoc & customizable reporting
    • Alerts for due payments
    • Audit trail
    • Automated account code assignment
    • Automated bill payments
    • Automated email confirmations to vendors
    • Central data repository
    • Custom invoice approval workflows
    • Custom payment approval workflows
    • Electronic invoice capture
    • Invoice submissions by email & web
    • Invoice tracking
    • Payment controls
    • Payment tracking
    • Status tracking

    Q. Who are the typical users of AvidXchange?

    AvidXchange has the following typical customers:

    Mid Size Business, Small Business

    Q. What languages does AvidXchange support?

    AvidXchange supports the following languages:

    English

    Q. What type of pricing plans does AvidXchange offer?

    AvidXchange has the following pricing plans:

    Subscription

    Q. Does AvidXchange support mobile devices?

    We do not have any information about what devices AvidXchange supports

    Q. What other apps does AvidXchange integrate with?

    AvidXchange integrates with the following applications:

    AccountMate, AppFolio Property Manager, FinancialForce Accounting, FinancialForce HCM, FinancialForce SCM, MRI Software, NetSuite, Rent Manager, Sage 50cloud, Viewpoint

    Q. What level of support does AvidXchange offer?

    AvidXchange offers the following support options:

    Online Support, Phone Support