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    Overview
    ProductRatingMost Used ByProduct SummaryStarting Price

    Altair Monarch

    Score8 out of 10
    N/AAltair Monarch (formerly Datawatch Monarch, acquired by Altair in December, 2018) works with both relational and multi-structured data including support for a wide range of formats including PDF, XML, HTML, text, spool and ASCII files. The product can access data from invoices, sales reports, balance sheets, customer lists, inventory, logs and more. According to the vendor, the system is easy to use, allowing users to quickly select any data source and automatically convert it into…N/A

    BILL

    Score8.2 out of 10
    N/ABILL is an online service for SMBs which provides a central dashboard for managing Accounts Receivable, Accounts Payable, and cash flow management. It syncs with all major accounting systems like QuickBooks, Sage, Intaact, and NetSuite.

    $45

    per month

    Pricing
    Altair MonarchBILL
    Editions & Modules
    No answers on this topic
    Essentials
    $45
    per user/per month
    Team
    $55
    per user/per month
    Corporate
    $79
    per user/per month
    Enterprise
    Custom Pricing
    Offerings
    Pricing Offerings
    Altair MonarchBILL
    Free Trial
    YesYes
    Free/Freemium Version
    YesNo
    Premium Consulting/Integration Services
    YesNo
    Entry-level Setup FeeOptionalNo setup fee
    Additional Details
    More Pricing Information
    Community Pulse
    Altair MonarchBILL
    Considered Both Products
    Altair Engineering, Inc.
    No answer on this topic
    BILL
    No answer on this topic
    Key User Insights
    Would buy again
    No answers on this topic
    66%
    Would buy again
    23 Answers
    Delivers good value for the price
    No answers on this topic
    66%
    Delivers good value for the price
    23 Answers
    Happy with the feature set
    No answers on this topic
    66%
    Happy with the feature set
    23 Answers
    Lived up to sales and marketing promises
    No answers on this topic
    52%
    Lived up to sales and marketing promises
    13 Answers
    Implementation went as expected
    No answers on this topic
    67%
    Implementation went as expected
    20 Answers
    Features
    Altair MonarchBILL
    Payment Management
    Comparison of Payment Management features of Altair Monarch and BILL
    Feature
    Altair Monarch
    -
    Ratings
    BILL
    7.9
    8 Ratings
    4% above category average
    Customizable Approval Policies00 Ratings8.06 Ratings
    Financial Document Management00 Ratings7.68 Ratings
    Payment Status Tracking00 Ratings8.18 Ratings
    Payment Audit Trail00 Ratings8.18 Ratings
    Duplicate Bill Detection00 Ratings8.16 Ratings
    Advanced OCR00 Ratings7.54 Ratings
    Electronic Funds Transfer00 Ratings7.97 Ratings
    Accounts Payable
    Comparison of Accounts Payable features of Altair Monarch and BILL
    Feature
    Altair Monarch
    -
    Ratings
    BILL
    7.8
    5 Ratings
    8% above category average
    Automated Accounts Payable Processes00 Ratings8.54 Ratings
    Vendor Management00 Ratings8.15 Ratings
    Tax Form Preparation00 Ratings6.92 Ratings
    Best Alternatives
    Altair MonarchBILL
    Small Businesses
    No answers on this topic
    Tipalti
    Score7.7 out of 10
    Medium-sized Companies
    Toad Data Point
    Score8.4 out of 10
    Stampli
    Score8.4 out of 10
    Enterprises
    Datameer
    Score8.4 out of 10
    Yooz
    Score8.8 out of 10
    All AlternativesView all alternativesView all alternatives
    User Ratings
    Altair MonarchBILL
    Likelihood to Recommend
    8.1
    (6 ratings)
    7.9
    (68 ratings)
    Likelihood to Renew
    7.2
    (6 ratings)
    8.0
    (14 ratings)
    Usability
    -
    (0 ratings)
    8.5
    (8 ratings)
    Availability
    -
    (0 ratings)
    8.0
    (7 ratings)
    Performance
    -
    (0 ratings)
    6.0
    (3 ratings)
    Support Rating
    -
    (0 ratings)
    9.0
    (18 ratings)
    Online Training
    -
    (0 ratings)
    9.0
    (2 ratings)
    Implementation Rating
    -
    (0 ratings)
    8.0
    (6 ratings)
    Configurability
    -
    (0 ratings)
    8.0
    (1 ratings)
    Contract Terms and Pricing Model
    -
    (0 ratings)
    8.0
    (1 ratings)
    Data Sharing and Collaboration
    7.0
    (1 ratings)
    -
    (0 ratings)
    Data Sources
    5.0
    (1 ratings)
    -
    (0 ratings)
    Ease of integration
    -
    (0 ratings)
    8.0
    (2 ratings)
    Product Scalability
    -
    (0 ratings)
    8.0
    (1 ratings)
    Vendor post-sale
    -
    (0 ratings)
    8.0
    (1 ratings)
    Vendor pre-sale
    -
    (0 ratings)
    8.0
    (1 ratings)
    User Testimonials
    Altair MonarchBILL
    Likelihood to Recommend
    Altair Engineering, Inc.
    The product is especially useful when you have real-time and/or time series data to analyze. If you have more mundane, simpler requirements, other products might do the job you need for less money (there are even some decent open source visualization tools you can find.) I know the product is very widely used in capital markets applications to monitor and analyze risk and price and volume changes; if you're working in that area, I don't think there's a better tool to use.
    Incentivized
    Read full review
    BILL
    It depends, Bill.com certainly has a strong reputation and I agree it can be a great solution in the right scenario but I think the implementation and initial setup are critical and need to be well thought out based on the setup of the organization you are a part of.
    Incentivized
    Read full review
    Pros
    Altair Engineering, Inc.
    • Creating a basic model to extract data from a report is very easy.
    • Advanced features like Calculated Fields and External Lookups allow you to augment the raw data.
    • You can create a "project" to automate the data extraction. Combined with Datapump (a separate DW app), you can fully automate the process once the raw report is generated.
    Incentivized
    Read full review
    BILL
    • The fact that bill.com automatically processes most information on the invoice is really helpful - leads to quicker processing
    • The "to do list" feature ensures you see the tasks that need to be completed ASAP
    • The reports section is very helpful in year end prepping for audits
    Incentivized
    Read full review
    Cons
    Altair Engineering, Inc.
    • Recently, we had some major sticker-shock when we wanted to upgrade Data Pump. It is an exceptional product, but when the price jumped from $6,000 to over $60,000, it was impossible to get the funds approved internally for the upgrade.
    • We also paid for yearly maintenance contracts which included Professional Services, but rarely found those services beneficial. However, we did receive all software upgrades for Datapump as part of the contract which we found to be very beneficial. However, with the new pricing, that is not longer the case.
    Incentivized
    Read full review
    BILL
    • Currently, our company uses a different platform to submit expenses, we only use bill.com to receive them. So perhaps this isn't actually a place where bill.com could improve, but the expense submission process may not have been robust enough for our company.
    • The bill.com platform wasn't the most beautiful or pleasing to use, but this is a minor fault.
    • I'd love a way to set up recurring payments (e.g., my phone bill is reimbursed each month).
    Incentivized
    Read full review
    Likelihood to Renew
    Altair Engineering, Inc.
    Even though we do not utilize it on a daily basis, I do hope my current company renews it's license. If not, I intend to purchase myself.
    Incentivized
    Read full review
    BILL
    While our firm does not use Bill.com internally, we know many customers that use Bill.com and are very happy with it. Based on the feedback from current users, I would say that the product should have a strong renewal forecast. Once customers move their AP to the cloud, they would be unlikely to move it back given a choice.
    Read full review
    Usability
    Altair Engineering, Inc.
    No answers on this topic
    BILL
    Bill.com continues to raise the bar with new features and improved interface. The Fast Pay option is another innovation that reduces administrative time when you have to get an overnight check out. The new Chat Support interface, powered by Zopim, which is world-class, adds to the responsiveness of Bill.com's support team and makes getting real-time answers that much easier.
    Incentivized
    Read full review
    Reliability and Availability
    Altair Engineering, Inc.
    No answers on this topic
    BILL
    The only time Bill.com was ever "unavailable" was then the Sync to Quickbooks function failed. That happened a time or two but was usually quickly remedied. I'm not sure if that's an issue with newer online versions of Quickbooks Enterprise -- at the time we were using a remotely hosted Quickbooks instance accessed via terminal server (vs a cloud offering like Bill.com is)
    Read full review
    Performance
    Altair Engineering, Inc.
    No answers on this topic
    BILL
    Load times can be slow after long use.
    Incentivized
    Read full review
    Support Rating
    Altair Engineering, Inc.
    No answers on this topic
    BILL
    I could not explain to them how I was trying to remove an old email account from my company page while granting the new email account access to the bank account that the first email account had added. The "set a bank account as inactive" button is labeled delete, but they don't seem to recognize that. I requested my Bill.com account be deleted on Wednesday so I could start all over with a fresh account; this seemed to be completed Wednesday night, but when I tried to create a new Bill.com account from the same email, it took me to my old bill.com account.
    Incentivized
    Read full review
    Online Training
    Altair Engineering, Inc.
    No answers on this topic
    BILL
    The online training provided by Bill.com is concise and since the firm consistently improves the platform functionality, users are able to select the training for the modules they specifically need.
    Incentivized
    Read full review
    Implementation Rating
    Altair Engineering, Inc.
    No answers on this topic
    BILL
    I heard from my leadership that it went very well.
    Incentivized
    Read full review
    Alternatives Considered
    Altair Engineering, Inc.
    Datawatch is very good value of money compared to QlikView; QlikView is really more of a BI tool and has a lot of functions that I didn't need. Datawatch is very strong in the real-time area where Tableau, Panorama, and Qlik don't do very well. If you need to set up a visual monitoring dashboard, Datawatch is the best product I've seen for that. if you want to do a lot of in depth statistical analysis of large databases, Tableau is probably a good option.
    Incentivized
    Read full review
    BILL
    1. Automation & Workflow Efficiency.2. Integration Capabilities with other softwaresWe needed a centralized, automated, and scalable solution for managing both payables and receivables. The strong integration with our existing accounting software was a key factor.The platform gave us better visibility and control over cash flow and approval processes.
    Read full review
    Contract Terms and Pricing Model
    Altair Engineering, Inc.
    No answers on this topic
    BILL
    None, all good.
    Incentivized
    Read full review
    Scalability
    Altair Engineering, Inc.
    No answers on this topic
    BILL
    We have multiple locations, and everything works fine.
    Incentivized
    Read full review
    Return on Investment
    Altair Engineering, Inc.
    • Data Pump reduces complexity of report solutions by offering a standardized approach for organizing and scheduling
    • 97% service level for past 5 years for all of our jobs going through Data Pump
    Incentivized
    Read full review
    BILL
    • After receiving an offer to 'finance' outstanding invoices, I was enticed by the promise of a 3% total cost for a 60-day period, with the possibility of extending the financing for an additional 10 months (for an additional fee). Eager to access funds, I decided to finance an invoice worth $17,160.00. Within 24 hours, BILL deposited $16,645.20 (97% of the invoice amount) into my account.
    • However, when the customer paid their $17,160 invoice four days later, instead of the funds being deposited into my checking account as I expected, BILL chose to retire the loan and retain my $514.80 fee for the 4 day advance period. This unexpected turn of events resulted in an effective interest rate of a staggering 273.75%. It was clear that this arrangement was far from what I had initially understood, and the financial impact was outrageously high.
    • Frustratingly, my attempts to resolve this issue through customer service were in vain, as I spoke with three agents who provided no satisfactory solutions. To anyone contemplating using BILL's services, I strongly urge you to carefully scrutinize the fine print and consider opting for a more reputable finance company."
    Read full review
    ScreenShots

    Altair Monarch Screenshots

    Product screenshotProduct screenshotProduct screenshot

    BILL Screenshots

    Screenshot of BILL’s central dashboard, which displays upcoming bills, invoices, and ingoing and outgoing payments.Screenshot of BILL automatically pulls in bills via email and automatically starts the process. It also checks for duplicate invoices by looking at the invoice numbers and payment amounts to flag questionable invoices.Screenshot of BILL's desktop and mobile applications so users' teams can review invoices and send payments on-the-go.Screenshot of BILL’s mobile app, which can be used to review invoices, add comments, and approve from anywhere.Screenshot of The overview screen, where the status of invoices can be reviewed to get a bird’s eye view of tasks.