AvidXchange Pricing, Features, Reviews & Comparison of Alternatives

AvidXchange

Liberate Your AP

4.52/5 (31 reviews)

AvidXchange overview

What is 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.
www.avidxchange.com

Pricing

Pricing options
Value for money
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Devices

Business size

S
M
L

Markets

United States, Canada

Supported languages

English
AvidXchange screenshot: AvidXchange allows users to pay vendors electronicallyAvidXchange Anthem (2)AvidXchange screenshot: Over 50 standard reports are built into AvidXchange, and users can define their own custom reportsAvidXchange - Software Demo Video

AvidXchange reviews

Value for money
Features
Ease of use
Customer support
  4.3
  4.4
  4.5
  4.4
Omikka Cummings

Awesome for invoice tracking and AP

Used daily for 1-2 years
Reviewed 2018-10-17
Review Source: Capterra

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.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Anonymous

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

Used daily for 2+ years
Reviewed 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

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Ease of use
Features
Customer support

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JOHN GLASER

Good Accounting Tool

Used weekly for 1-2 years
Reviewed 2020-04-09
Review Source: Capterra

I was skeptical at first about changing to this software but once I learned the system and all the available features, I found it to be very easy to use and the reporting out of the system was very user friendly.

Pros
It is easy to enter information into the system and edits are very easy to do. The reporting out of the system was also a marked improvement over our previous software.

Cons
I really don't have any negatives to talk about. It was so much of an improvement over our previous system.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 7/10

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Grace Langham

Avoid at All Costs

Used daily for 2+ years
Reviewed 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
Features
Customer support

Likelihood to recommend: 0/10

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Linda Lanier

Avidxchangem (Exchange stress for success)

Used daily for less than 6 months
Reviewed 2020-02-06
Review Source: Capterra

My overall experience with AdvidXchange had increase my knowledge of payment systems and made the office more efficient. It's a great tool and it has helped immensely to keep the vendors satisfied.

Pros
What I like most about Avidxchange is once you submit the documents its done. Payments are made in a timely manner and you can review payments that have cleared. It enhances the account payable and receivable processing because with more checks and balances and less paper.

Cons
There is not thing that I don't like about this software. Once you are at ease with all of the features, it because a great resource tool.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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AvidXchange pricing

Pricing options
Subscription
View Pricing Plans

Pricing information is available on inquiry.

AvidXchange features

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

API (252 other apps)
Accounting Management (168 other apps)
Activity Dashboard (204 other apps)
Billing & Invoicing (173 other apps)
Compliance Management (172 other apps)
Data Import/Export (164 other apps)
Expense Tracking (156 other apps)
Invoice Management (220 other apps)
Multi-Currency (152 other apps)
Real Time Data (141 other apps)
Real Time Reporting (123 other apps)
Reporting & Statistics (236 other apps)
Third Party Integration (183 other apps)

Security and privacy

Encryption

Encryption of sensitive data at rest
HTTPS for all pages

Access control

Multi-factor authentication options
This will ask you to sign in with LinkedIn

Videos and tutorials

Additional information for AvidXchange

Key features of AvidXchange

  • ACH payment processing
  • 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
  • Billing and invoicing
  • Cash management
  • Central data repository
  • Credit card processing
  • Custom invoice approval workflows
  • Custom payment approval workflows
  • Electronic invoice capture
  • Electronic payments
  • Fraud risk reduction
  • Invoice management
  • Invoice submissions by email & web
  • Invoice tracking
  • Microsoft Dynamics GP integration
  • Oracle NetSuite integration
  • Payment controls
  • Payment tracking
  • Quickbooks integration
  • Sage Intaact integration
  • Status tracking
View All Features

Benefits

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