AvidXchange Pricing, Features, Reviews & Alternatives

AvidXchange

Liberate Your AP

4.49/5 (35 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.

Pricing

Starting from
$0.01
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 - Software Demo VideoAvidXchange screenshot: Over 50 standard reports are built into AvidXchange, and users can define their own custom reportsAvidXchange Anthem

AvidXchange user reviews

Value for money
Features
Ease of use
Customer support
  4.4
  4.4
  4.4
  4.4
Omikka C.

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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Josh C.

Simplify Your AP Process

Used daily for 2+ years
Reviewed 2020-10-19
Review Source: Capterra

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.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Grace L.

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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Taylor W.

Avid has saved our company so much time

Used daily for 1-2 years
Reviewed 2021-01-11
Review Source: Capterra

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.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 9/10

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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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Features
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AvidXchange pricing

Starting from
$0.01
View Pricing Plans

Pricing information is available on inquiry.

AvidXchange features

Accounting Integration
Alerts/Notifications
Audit Trail
Billing & Invoicing
Compliance Management
Customizable Reports
Electronic Payments
Invoice Processing
Multi-Currency
Recurring/Subscription Billing
Reporting/Analytics
Workflow Management

API (393 other apps)
Accounting (282 other apps)
Activity Dashboard (375 other apps)
Data Import/Export (347 other apps)
Expense Tracking (260 other apps)
Invoice Management (302 other apps)
Reporting & Statistics (411 other apps)
Third Party Integrations (332 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