What users are saying about

Adaptive Insights

Top Rated
204 Ratings

AvidXchange

15 Ratings

Adaptive Insights

Top Rated
204 Ratings
Score 8.7 out of 101

AvidXchange

15 Ratings
Score 8.5 out of 101

Add comparison

Likelihood to Recommend

Adaptive Insights

It is very helpful for budgeting and reporting. I love how easy it is to automate reports and presentations. It can be more difficult to plan specific activities. It feels more high-level than activity-level. It shows totals rather than individual transactions (either past or future transactions).
Mark McConkie profile photo

AvidXchange

AvidXchange is well suited for companies with multiple locations where approvals may be hard to get directly. A user can log on when they have time basically from anywhere to review, code and approve invoices. This would allow for processing of invoices centrally more efficiently then with appear invoices being moved from one place to another to be processed
Brian Murphy profile photo

Feature Rating Comparison

Budgeting, Planning, and Forecasting

Adaptive Insights
8.7
AvidXchange
Long-term financial planning
Adaptive Insights
8.9
AvidXchange
Financial budgeting
Adaptive Insights
8.9
AvidXchange
Forecasting
Adaptive Insights
9.1
AvidXchange
Scenario modeling
Adaptive Insights
8.3
AvidXchange
Management reporting
Adaptive Insights
8.2
AvidXchange

Consolidation and Close

Adaptive Insights
7.5
AvidXchange
Financial data consolidation
Adaptive Insights
7.9
AvidXchange
Journal entries and reports
Adaptive Insights
5.5
AvidXchange
Multi-currency management
Adaptive Insights
7.7
AvidXchange
Intercompany Eliminations
Adaptive Insights
7.5
AvidXchange
Minority Ownership
Adaptive Insights
7.0
AvidXchange
Local and consolidated reporting
Adaptive Insights
8.3
AvidXchange
Detailed Audit Trails
Adaptive Insights
8.6
AvidXchange

FInancial Reporting and Compliance

Adaptive Insights
8.3
AvidXchange
Financial Statement Reporting
Adaptive Insights
9.0
AvidXchange
Management Reporting
Adaptive Insights
8.6
AvidXchange
Excel-based Reporting
Adaptive Insights
8.5
AvidXchange
Automated board and financial reporting
Adaptive Insights
8.5
AvidXchange
XBRL support for regulatory filing
Adaptive Insights
6.9
AvidXchange

Analytics

Adaptive Insights
7.6
AvidXchange
Personalized dashboards
Adaptive Insights
7.3
AvidXchange
Color-coded scorecards
Adaptive Insights
6.8
AvidXchange
KPIs
Adaptive Insights
8.0
AvidXchange
Cost and profitability analysis
Adaptive Insights
8.1
AvidXchange
Key Performance Indicator setting
Adaptive Insights
8.1
AvidXchange
Benchmarking with external data
Adaptive Insights
7.3
AvidXchange

Integration

Adaptive Insights
8.6
AvidXchange
Flat file integration
Adaptive Insights
8.4
AvidXchange
Excel data integration
Adaptive Insights
8.8
AvidXchange
Direct links to 3rd-party data sources
Adaptive Insights
8.7
AvidXchange

Pros

  • Infinite ability to group accounts and departments for reporting. The only limitation is the number of ways that you think of in terms of consolidating the information.
  • Being able to build scalable, complex, distributed, budget models. With the data we can bring into the system and the formulas we can use we have all the functionality of the spreadsheet, but with the flexibility to allow leaders across the organization to participate and update their section.
  • The platform allows multiple forecast/budget versions which allows for version control and sensitivity analysis. I can lock versions from changes while quickly creating a new version to see the impact of a +or- scenario to the company’s profitability.
  • With the OfficeConnect tool we can leverage Excel to provide repeatable reports for the board and other business leaders that are repeatable from month to month. While the platform provides more flexibility than an accounting package it still has limitations. Using OfficeConnect I can leverage the power of the Microsoft suite of Excel/Word/PowerPoint directly.
Brian Kyslinger profile photo
  • AvidXchange tracks the history of an invoice with their History Tab and allows for management to review how the invoice was processed through approval.
  • Workflows within AvidXchange allows for invoices to be routed easily for approval.
  • Utilizing AvidPay frees up our AP Department from spending all Friday afternoon folding, stuffing and stamping the payments to be mailed out each week.
Brian Murphy profile photo

Cons

  • When trying to learn about a new feature or a feature I have not used previously it is sometimes difficult to find that information on the help section.
  • Adaptive can be deployed through consultants when they do not have specialized knowledge like higher education. This sometimes makes it difficult to determine who to contact when experiencing issues with the model after implementation.
  • You are limited to one master chart of accounts. When you have multiple businesses this can cause some difficulties that can be overcome, but takes additional thought and planning and can cause issues when making changes.
Brian Kyslinger profile photo
  • AvidXchange does not have a mobile app or full functionality on mobile phones or iPads. This would be a great tool for the customers.
  • AvidXchange at times is too quick to want to refund payments not taken by a vendor versus doing detailed research as to why they won't accept a payment from their customer.
  • I feel the reporting tab should be allowed to be given to users by report or sections of reports. Currently it is all or nothing.
Brian Murphy profile photo

Likelihood to Renew

Adaptive Insights8.5
Based on 32 answers
We have renewed this a number of times. It fits our business model and it is now an integral part of our organization.
Harry Vasels profile photo
AvidXchange8.2
Based on 5 answers
Has met all of my needs. Very satisfied.
No photo available

Usability

Adaptive Insights7.7
Based on 75 answers
Fairly easy to get trained on the system and how to build models. Within 3 days of hands-on training, we build out robust capacity models on our own. Reports and dashboards are drag and drop to create.
Meghan Gardiner, CPA, CA profile photo
AvidXchange8.2
Based on 1 answer
Except the one difficult/cumbersome point I made, it is a strong, solid, easy-to-use system.
Richard Maritt, CMCA, AMS profile photo

Reliability and Availability

Adaptive Insights9.1
Based on 9 answers
We can access Adaptive anytime 24/7 from any computer or laptop pc or Mac. They are committed to keep this product up to date and relevant
Harry Vasels profile photo
AvidXchange9.0
Based on 1 answer
No answer on this topic is available.

Performance

Adaptive Insights9.1
Based on 4 answers
Product performs well when making and saving changes and navigating between pages within the application
Andrew Rosenberg profile photo
AvidXchange8.0
Based on 1 answer
No answer on this topic is available.

Support

Adaptive Insights6.8
Based on 11 answers
Support requests are always handled promptly and resolved favourably.Many user support requests arise during initial deployment and use and often represent questions relating to best methods or how to approach their particular situation, which we gladly assist with as we provide the appropriate skills transfer training and assistance.As clients become more knowledgeable in working with the product suite then they tend not to ask many questions.
Greg Clarke profile photo
AvidXchange8.2
Based on 2 answers
Except for occasional escalations needed to Level 2 support, they are efficient and quick with nearly all requests.
Richard Maritt, CMCA, AMS profile photo

Online Training

Adaptive Insights8.2
Based on 6 answers
Training receives the highest rating due to the availability of Webex training from an expert at Adaptive, with several sessions tailored to specific features including personnel, capital, formulas, reporting, etc
Andrew Rosenberg profile photo
No score
No answers yet
No answers on this topic

Implementation

Adaptive Insights8.2
Based on 13 answers
In our experience the Adaptive Suite is quick and easy to deploy. Most implementations are facilitated in just a few weeks but may range depending on organisation complexity from say 2 to 12 weeks with only the very largest and most complex taking a little longer. When key stakeholders are properly engaged and the opportunities for skills transfer are exercised, we find that implementations proceed well and are delivered on time and to project budget
Greg Clarke profile photo
AvidXchange7.3
Based on 1 answer
No answer on this topic is available.

Breadth of Deployment

It is used throughout the company in different divisions and at our corporate level. When used in a division recently the personnel from different departments directly inputted data and monitored their budget against actual. It is very user friendly and flexible.
Harry Vasels profile photo
No answers on this topic

Alternatives Considered

I do not have comparisons for this product, other than the budgeting section with Intacct. That system however, is not designed as an FP&A tool, so it is only a bare bones budgeting tool, that would work for smaller organizations, but would not be a manageable solution for the way our group budgets.
Brian Lawrence, CPA profile photo
No comparison. Our national company recommends a small selection of A/P modules that integrate with our MRI accounting software. When the decision was made, it was a no-brainer to select AvidXchange, due to my prior knowledge and experience.
Christina Honthy-Little profile photo

Collaboration and Sharing

Adaptive Insights7.5
Based on 17 answers
This is one of the best features as personnel in different areas at different sites can work together on the budget, forecast or "what-if" models.
Harry Vasels profile photo
No score
No answers yet
No answers on this topic

Data Integration

Adaptive Insights7.6
Based on 17 answers
We have used Adaptive for years and it works well as we adapt to changing business scenarios. We can make changes and see potential impacts to our business before they occur.
Harry Vasels profile photo
No score
No answers yet
No answers on this topic

Scalability

Adaptive Insights9.1
Based on 7 answers
Adaptive is the leader and is very progressive with the product improvements that they provide.
Gary Sabulski profile photo
No score
No answers yet
No answers on this topic

Return on Investment

  • Cycle time for processing financial statements, budgets, and forecasts are greatly reduced.
  • Visibility of company metrics and drivers has been increased across the company.
  • The ease and ability to quickly create multiple forecasts using different scenarios is now available.
Jack Kersjes profile photo
  • AvidXchange has increased our efficiency 100%. It used to take 30-60 days to receive, code and process invoices. Now, they are uploaded, coded and approved within days.
  • No negative impact at all. Couldn't imagine working without this software.
Christina Honthy-Little profile photo

Pricing Details

Adaptive Insights

General
Free Trial
Yes
Free/Freemium Version
Premium Consulting/Integration Services
Yes
Entry-level set up fee?
Optional
1.  per seat, per installation
Additional Pricing Details

Adaptive Insights More Information

AvidXchange

General
Free Trial
Free/Freemium Version
Premium Consulting/Integration Services
Entry-level set up fee?
No
Additional Pricing Details

AvidXchange More Information