About AvidXchange

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 software and accounting system applications, including Sage Intaact, QuickBooks, Oracle NetSuite, Microsoft Dynamics GP, Rent Manager, MRI 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.

Key benefits of AvidXchange

Integrate with your existing accounting system
Increase visibility and optimize approvals of invoices and payments
Securely pay suppliers and strengthen relationships
Provide flexible payment options with virtual card, ACH and check
Control cash flow and minimize AP spend
Streamline workflows and AP processes
Reduce risk of fraud through electronic management of sensitive supplier bank account data

Devices

Business size

S M L

Markets

Canada, United States

Supported Languages

English

Images

AvidXchange allows users to pay vendors electronically
Over 50 standard reports are built into AvidXchange, and users can define their own custom reports
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AvidXchange video
AvidXchange video
AvidXchange screenshot: AvidXchange allows users to pay vendors electronically AvidXchange screenshot: Over 50 standard reports are built into AvidXchange, and users can define their own custom reports

Features

Total features of AvidXchange: 57

  • ACH Payment Processing
  • Accounting Integration
  • Accounts Payable
  • Accounts Receivable
  • Ad hoc Reporting
  • Alerts/Notifications
  • Approval Process Control
  • Approval Workflow
  • Audit Trail
  • Bank Reconciliation
  • Billing & Invoicing
  • Billing Portal
  • Budgeting/Forecasting
  • Cash Management
  • Cataloging/Categorization
  • Check Writing
  • Compliance Management
  • Configurable Workflow
  • Contact Database
  • Contact Management
  • Contract/License Management
  • Customizable Reports
  • Document Imaging
  • Document Management
  • Electronic Funds Transfer
  • Electronic Payments
  • Fixed Asset Management
  • Fraud Detection
  • General Ledger
  • Inventory Management
  • Invoice Creation
  • Invoice History
  • Invoice Processing
  • Mobile Payments
  • Multi-Currency
  • Online Invoicing
  • Online Payments
  • PO Reconciliation
  • Payment Processing
  • Payment Processing Services Integration
  • Payroll Management
  • Portfolio Management
  • Project Billing
  • Purchase Order Management
  • Purchasing & Receiving
  • Receipt Management
  • Recurring/Subscription Billing
  • Reimbursement Management
  • Reporting/Analytics
  • Requisition Management
  • Spend Control
  • Status Tracking
  • Strategic Planning
  • Supplier Management
  • Time & Expense Tracking
  • Vendor Management
  • Workflow Management

Alternatives

QuickBooks Desktop Enterprise

4,5
#1 Alternative to AvidXchange
QuickBooks Desktop Enterprise is an accounting software for small businesses which provides users with real-time access...

Odoo

4,2
#2 Alternative to AvidXchange
Odoo is a fully-integrated, customizable, and open-source suite of business applications. A majority of the business...

Xero

4,3
#3 Alternative to AvidXchange
Xero is a cloud-based small business accounting software with tools for managing invoicing, bank reconciliation,...

NetSuite

4,1
#4 Alternative to AvidXchange
NetSuite is the world's #1 cloud ERP solution trusted by more than 24,000 high-growth customers worldwide to run all of...

Reviews

Overall rating

4,5 /5
(35)
Value for Money
4,4/5
Features
4,4/5
Ease of Use
4,4/5
Customer Support
4,4/5

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Showing 5 reviews of 35
Omikka C.
Overall rating
  • Industry: Commercial Real Estate
  • Company size: 51-200 Employees
  • Used Daily for 1+ year
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Awesome for invoice tracking and AP

Reviewed on 2018/10/17

Pros

Very easy to set up and use, great customer service. Quick and easy to learn.

Cons

Indexers. Invisible trolls that come with the software who go in, pull the invoices and assign them where they want, so there may be invoices in random queues that are paid late, unless you check the random queues often.

Josh C.
Overall rating
  • Industry: Sporting Goods
  • Company size: 11-50 Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Simplify Your AP Process

Reviewed on 2020/10/19

Overall, AvidXchange has saved our company a lot of time. When I first started, I would have...

Overall, AvidXchange has saved our company a lot of time. When I first started, I would have employees from different departments coming into my office and handing me invoices. This was not only hard to keep track of, but the invoice would need to be uploaded into the system by me (only one person reviewing header details), I would need to scan the invoice if I wanted a PDF to be attached to the NetSuite record, and then I would need to physically file the invoice. Now, it's as simple as reviewing the invoice in Avid's user-friendly portal and syncing it into our accounting system. Each department will get an invoice based on the supplier's workflow that was set in Avid and all they have to do is review, select what GL they would like to put the invoice to, and submit.

Overall experience has been great. One of the few companies we work with that we actually like and feel we are getting our money's worth with. Definitely urge anyone who is looking for an automated A/P system to give Avid a try.

Pros

- AvidXchange has indexers who automatically enter the basic invoice/bill data, then send it into the proper workflow to be reviewed, approved and paid.
- Customer Service is phenomenal. I have never had to wait more than 12 hours for a reply. If a check is lost in the mail, Avid will immediately void and re-issue a new check to your supplier.
- A/P workflows provide a seamless and efficient way for a bill to be reviewed and approved from the right department. It allows for flexibility and completely removes the need for physical copies of invoices.
- Reduces paper.
- Our company uses AvidXchange with NetSuite, and we love the fact that invoices are automatically tied in to the NetSuite bills. Easy way to find a document during audits.
- Overall worth every penny.

Cons

- Unable to make changes to supplier preferences for your supplier. Instead, you will need to have your supplier reach out to Avid and have them select any payment options, etc.. This isn't a huge deal, but sometimes I wish we could make changes for our customer since they aren't the ones using the software. Other changes can be made by the user, such as address changes, company name changes, etc.. This mostly refers to how a supplier would like to receive payment through AvidPay.
- Indexers can make mistakes on basic invoice header data, but this is very rare.

Grace L.
Overall rating
  • Industry: Real Estate
  • Company size: 11-50 Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 0.0 /10

Avoid at All Costs

Reviewed on 2019/06/13

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.

Taylor W.
Overall rating
  • Industry: Real Estate
  • Company size: 11-50 Employees
  • Used Daily for 1+ year
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 9.0 /10

Avid has saved our company so much time

Reviewed on 2021/01/11

Overall it has had its flaws, but is worth the time that it saves us daily.

Overall it has had its flaws, but is worth the time that it saves us daily.

Pros

We like the ease of having everyone be able to review the invoice from the convenience of their desk as well as the time it has saved us.

Cons

The thing I like the least is having to set up a new property there are several steps and often times the company doesn't execute everything on there end in order for things to be added smoothly.

Verified Reviewer
Overall rating
  • Industry: Real Estate
  • Company size: 51-200 Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support

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

Reviewed on 2018/07/26

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!

Showing 5 reviews of 35 Read all reviews

AvidXchange FAQs

Below are some frequently asked questions for AvidXchange.

AvidXchange offers the following pricing plans:

  • Starting from: US$0,01
  • Free Trial: Not Available

Pricing information is available on inquiry.

We do not have any information about AvidXchange features

AvidXchange has the following typical customers:

2-10, 11-50, 51-200, 201-500, 501-1 000, 1 001+

AvidXchange supports the following languages:

English

AvidXchange supports the following devices:

AvidXchange integrates with the following applications:

AccountMate, Dynamics 365, Dynamics 365 Business Central, Microsoft Dynamics GP, Microsoft Dynamics SL, NetSuite, Quickbooks Online, Sage 300 Construction and Real Estate, Sage 500, Sage 50cloud, Sage Intacct, Viewpoint Team

AvidXchange offers the following support options:

Email/Help Desk, Phone Support, Chat

Related categories

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