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.
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.
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.
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!
Avid has been a solid tool for my company to make purchase orders and pay invoices.
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.
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.
Efficiency, workflow and fraud control, reduced data entry, centralized invoice processing and accuracy.
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.
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.
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]
I really appreciate the fact that there is no longer paper invoices floating around the office & potentially getting lost on someone's desk.
It would be helpful if there was an easy way to import from a .csv file.
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.
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.
Pricing information is available on inquiry.
Below are some frequently asked questions for AvidXchange.
AvidXchange offers the following pricing plans:
Pricing model: Subscription
Free Trial: Not Available
Pricing information is available on inquiry.
AvidXchange offers the following features:
AvidXchange has the following typical customers:
Mid Size Business, Small Business
AvidXchange supports the following languages:
AvidXchange has the following pricing plans:
We do not have any information about what devices AvidXchange supports
AvidXchange integrates with the following applications:
AccountMate, AppFolio Property Manager, FinancialForce Accounting, FinancialForce HCM, FinancialForce SCM, MRI Software, NetSuite, Rent Manager, Sage 50cloud, Viewpoint
AvidXchange offers the following support options:
Online Support, Phone Support