AvidXchange vs. BILL vs. D&B Finance Analytics

For a company who is needing to transition from paper invoices/manual approvals to an electronic solution, AvidXchange is an excellent option. It is very functional and will highly improve your invoice capability, the speed of invoice processing, and will help your overall accounts payable department. It also makes auditing much easier, where auditors are able to easily search invoices, see approvals, payment status, etc.

Incentivized

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

D&B Finance Analytics is helpful with determining a customer's credit worthiness when our customer has data reported. We are a Wholesale Durable Goods company and we prefer to see data reflecting Trade Payments that show Wholesale Durable and/or Non-Durable Goods to help us see how they pay their Trade Payments. I also like to see the Maximum Credit Recommendation, however, in some instances I tend to disagree just based on customer history with us as well as the lack of data for Trade Payments. I would (and have) definitely recommend this program to colleagues.

Incentivized

• Automation: Every part of Avid's process is automated through the use of workflows established by the AvidXchange administrator. This allows all vested entities to review and approve the payment of an invoice in a timely manner.
• Transparency: As an invoice goes through the review and approval process, every step is documented and available for review. This ensures all parties are appropriately vested in ensuring the timely approval of invoices for payment
• Accuracy: Automating the AP process has helped to minimize the risk for errors that occur through manual invoice entry and approval.

Incentivized

• 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

• Custom Scores
• Finding Companies through Search or Advanced Search. It's got an easy search bar. And then for example, we have companies all over the world that come to us. And so we can just choose the country, for example, and then write the name in there and it'll bring up a lot of different companies that maybe are exactly that name or close to that name. And when we see what we believe to be the actual company, we can click on it and then know whether they are credit worthy.
• Great UX on the website - fast and easy to use. The speed with which it operates is really terrific and very important for us because we usually have to make that decision right away.
• Using something as objective as a numerical score simplifies decisions about offering credit. We have to make a decision usually on whether to offer credit to an advertiser quickly. So what's wonderful about the process is that we don't have to be searching around on Google or any kind of review site and then try to discern whether they're credit worthy. We simply open up the D&B Finance Analytics tool.

Incentivized

• I really wish there was a way for AvidXchange indexers to "get to know" the companies they index for. The indexing policies are such that it leaves little room for common sense and I do a fair share of correcting workflows and such.

Incentivized

• Voiding a bill in Bill.com is easy, but unfortunately, the void doesn't sync automatically to Quickbooks Online (unlike bill and bill payments, which do automatically sync). Bill.com is great in always telling you exactly what to do to correct it in your Quickbooks Online software, but it would nice if there weren't extra steps you had to take when this happens.
• Bill.com only sends the first page of a bill with a check. Typically this isn't a problem, but in some instances, it's necessary for more than 1 page to be sent. It would be nice if Bill.com had a checkbox selection option to print up to a set number of pages (maybe up to 5) for an additional fee. Having the option would be great so I don't have to jump through hoops with other methods to try to get a bill paid, all because I need more than 1 page to go with the check.

Incentivized

• Provide EIN number of the business to ensure you are viewing the correct business.
• Have an easier, clearer way to view a parent company and its subsidiaries or a main entity and its other addresses, so basically clearly define if it is the same entity.

Incentivized

At the moment we have a contract for another year, we are hoping there is improvement with the company to decide if we stay with them or change.

Incentivized

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.

D&B Finance Analytics reports have just about everything. You can see a full company profile including legal forms, history records, employee count, years in business, paydex scores, delinquency scores, viability ratings, state of incorporations, naics codes, CEO or business owner names, etc. There is a lot that pulls up in this report

Incentivized

AvidXchange is very easy to use and the customer service is always there is you need help or more training. New employees even comment on how easy it is to pickup the program.

Incentivized

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

Very easy to access, and the reports are generally intuitive and clearly understandable. Some minor issues with entering data, nothing that would keep me from using this software, though. The databases it draws from are robust, and I can generally find the information I need, or get pointed to that information as a result of studying the report.

Incentivized

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)

I've never had any issues with the availability of D&B. Whenever I've needed to run a report on a company, it has always been available

Incentivized

Load times can be slow after long use.

Incentivized

5--PAGES TEND TO LOAD SLOWLY MORE OFTEN THAN NOT. IT IS A PROBLEM I NOTICE MORE OFTEN WHEN THERE ARE EXTREMELY LARGE CORPORATE LINKAGES

Incentivized

Except for occasional escalations needed to Level 2 support, they are efficient and quick with nearly all requests.

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

The customer support service team is very good and very knowledgeable. The customer reps are also helpful and quick to answer back when I send them an email or need to call them for additional help if I can not find it on my own. The whole D&B community is awesome on how they treat the customers.

Incentivized

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

The online training was worth it. We did an online training with our team and an account rep from D&B. They walked us through the entire interface and answered all of our questions.

Incentivized

I heard from my leadership that it went very well.

Incentivized

Skipping question, I was not involved in implementation.

Incentivized

At the time we moved to AvidXchange; CSI did not have the full functionality of processing invoice for payment. We only utilized them for specific vendor who took payments via virtual credit card. All invoices were processed in house by our AP Department.

Previously, we used Rydoo for submitting, approving, and receiving reimbursements. We switched to bill.com after changing our external tax consultants in the US. We still use Rydoo for the submitting and approving part and only use bill.com to receive payment. I admit I find Rydoo easier to use, with a cleaner interface and friendlier brand voice.

Incentivized

We have used CLEAR, LexisNexis, Paynet (Equifax), and Zoom info. I would say D&B is compatible with LexisNexis, but less competitive with CLEAR and Paynet (Equifax). Paynet (Equifax) is much more applicable as it provides credit history on term debt, which is the area we provide financing for in our industry.

Incentivized

We have multiple locations, and everything works fine.

Incentivized

AT THIS PARTICULAR TIME, WE ONLY USE IT TO MAKE A DETERMINATION ON CREDIT. NO OTHER DEPARTMENTS HAVE ACCESS TO PROGRAM OTHER THAN ACCOUNTING

Incentivized

• AvidXchange has saved us on payroll by making the process go from hours to minutes. It really cuts down the time needed to get invoices approved and into QB for payment.
• It is very easy to train employees to use which also saves time and money.

Incentivized

• 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."

• As long as good credit decisions are being made by the user, DSO can expect to be reduced.
• ROI in terms of value for the cost of using D&B, is typically favorable.
• Working Capital generally does increase with better DSO and fewer write offs.

Incentivized