AvidXchange vs. Shareworks, by Morgan Stanley

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

Well suited for privately or publicly held companies with stock option plans or ESPP. Helpful for calculating stock compensation expense.

Incentivized

• Our contractors and vendors can submit invoices electronically through AvidBill, removing the tedious task of sorting and coding mail. This feature saves on time and administrative duties.
• Communication is key, and being able to log a comment or question in AvidInvoice allows for clarification and expedited approval process.
• Having multiple properties, having the Property Code and % Allocation features allow us to ensure the correct entity is charged it's portion of expenses. For example, we may have a service that is coded to all 32 properties. With AvidInvoice we are able to allocate each entity's pro rata share of the invoice.

Incentivized

• Calendar of vesting schedule
• Visibility into value of various equity based compensation
• Ability to setup default release elections at vesting dates

Incentivized

• AvidPay needs some improvement to minimize the amount of time it takes to issue payment for invoices
• The search features within AvidXchange on the advanced search screen sometimes do not function correctly (sorting by ascending / descending order doesn't work all of the time).
• The log enhancement follow-up procedure could use some work.

Incentivized

• At the time, couldn't calculate a formula based on milestone vesting
• Had some small hiccups with calculating stock option compensation expense, but Capshare was able to solve over time.

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

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

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

We had a great team consisting of two Solium Shareworks admin experts, and one financial reporting expert to help us with the implementation. After the implementation, I feel we are in good hands with the Solium Shareworks relationship manager. We have quarterly contact with the team when new grants need to be added. Other then that, we are self-sufficient with the tool.

Incentivized

We are presently evaluating a move to Concur Invoice, not because of any real lack of functionality from AvidXchange, but simply because we have other business functions already on Concur Invoice. From what we have seen so far, the functionality is similar, though I believe Concur Invoice is more expensive.

Incentivized

We like Carta because they offer transfer agent services in addition to Cap Table management. Shareworks is the upgraded Capshare. This is for IPO ready companies who are ready to take the next steps

Incentivized

• AvidXchange allows our office to be more productive on invoice approvals.
• Overall, AvidXchange is saving us money. We do not have to courier invoices back and forth once signatures have been provided.
• You can approve invoices from anywhere as long as you have internet access.

Incentivized

• Positive - easy for employees to review stock plan and agreement.
• Positive - easy to pull cap table reports.
• Negative - requires a lot of administrative work for account activation, acceptance by users.
• Negative - support is not responsive.

Incentivized