AvidXchange vs. Plate IQ

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
AvidXchange
Score 8.9 out of 10
N/A
AvidXchange is an automated bill payment system.
$5,000
per license
Plate IQ
Score 5.4 out of 10
N/A
Plate IQ is an automated accounts payable platform.N/A
Pricing
AvidXchangePlate IQ
Editions & Modules
AvidXchange
5,000
per license
No answers on this topic
Offerings
Pricing Offerings
AvidXchangePlate IQ
Free Trial
NoNo
Free/Freemium Version
NoNo
Premium Consulting/Integration Services
NoNo
Entry-level Setup FeeNo setup feeNo setup fee
Additional DetailsConact vendor for pricing information.
More Pricing Information
Community Pulse
AvidXchangePlate IQ
Top Pros

No answers on this topic

Top Cons
Features
AvidXchangePlate IQ
Payment Management
Comparison of Payment Management features of Product A and Product B
AvidXchange
-
Ratings
Plate IQ
2.7
2 Ratings
75% below category average
Customizable Approval Policies00 Ratings3.02 Ratings
Financial Document Management00 Ratings1.02 Ratings
Payment Status Tracking00 Ratings2.72 Ratings
Payment Audit Trail00 Ratings3.22 Ratings
Duplicate Bill Detection00 Ratings3.02 Ratings
Advanced OCR00 Ratings3.22 Ratings
Electronic Funds Transfer00 Ratings3.02 Ratings
Accounts Payable
Comparison of Accounts Payable features of Product A and Product B
AvidXchange
-
Ratings
Plate IQ
2.4
2 Ratings
78% below category average
Automated Accounts Payable Processes00 Ratings3.02 Ratings
Vendor Management00 Ratings2.72 Ratings
Tax Form Preparation00 Ratings1.52 Ratings
Best Alternatives
AvidXchangePlate IQ
Small Businesses
Square 9 Softworks
Square 9 Softworks
Score 9.7 out of 10
Square 9 Softworks
Square 9 Softworks
Score 9.7 out of 10
Medium-sized Companies
Square 9 Softworks
Square 9 Softworks
Score 9.7 out of 10
Square 9 Softworks
Square 9 Softworks
Score 9.7 out of 10
Enterprises
Webexpenses
Webexpenses
Score 8.5 out of 10
Webexpenses
Webexpenses
Score 8.5 out of 10
All AlternativesView all alternativesView all alternatives
User Ratings
AvidXchangePlate IQ
Likelihood to Recommend
9.0
(18 ratings)
5.3
(3 ratings)
Likelihood to Renew
8.2
(5 ratings)
-
(0 ratings)
Usability
8.2
(1 ratings)
-
(0 ratings)
Availability
9.0
(1 ratings)
-
(0 ratings)
Performance
8.0
(1 ratings)
-
(0 ratings)
Support Rating
8.2
(2 ratings)
9.0
(1 ratings)
Implementation Rating
7.3
(1 ratings)
-
(0 ratings)
User Testimonials
AvidXchangePlate IQ
Likelihood to Recommend
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
Read full review
Plate IQ
It is well targeted at restaurants and similar service organizations with complex COGS. It dovetails well with complementary systems like FinTech payments. It wasn't designed by accountants, so there is a bit of roughness. Reporting is very limited: would like to see some SQL / build your own report functionality. Lookups are reasonably robust (filter for amount, time, vendor, etc). It is occasionally unstable but recovers gracefully. From our use case, it would be preferable to have the user approving the invoice ALSO have the ability to attach documents. This is left to the payment approver, who in our case is the "check signer".
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Pros
AvidXchange
  • 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.
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Plate IQ
  • OCR
  • Workflow
  • Support
Read full review
Cons
AvidXchange
  • 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.
Read full review
Plate IQ
  • Provide better analytics in terms of cost increases per item.
  • Provide the ability to create recipes and forward price increases to those recipes for accurate food cost projections.
  • Free Bill Pay
Read full review
Likelihood to Renew
AvidXchange
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.
Read full review
Plate IQ
No answers on this topic
Usability
AvidXchange
Except the one difficult/cumbersome point I made, it is a strong, solid, easy-to-use system.
Read full review
Plate IQ
No answers on this topic
Support Rating
AvidXchange
Except for occasional escalations needed to Level 2 support, they are efficient and quick with nearly all requests.
Read full review
Plate IQ
They have a dedicated support person for each customer who actually knows the product.
Turnaround is usually within an hour or faster.
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Alternatives Considered
AvidXchange
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.
Read full review
Plate IQ
We used DocuWare first; great experience; however, it was not made specifically for restaurant clients like Plate IQ is. Plate IQ does a much better job of recognizing common items, and they've continued to add a function that is important for restaurant owners. Restaurant 365, we felt, was trying to be a complete package of accounting/AP/AR/inventory. After looking at each piece, we didn't feel that each of them was as strong as the other.
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Return on Investment
AvidXchange
  • 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.
Read full review
Plate IQ
  • In my opinion, it has had zero impact on ROI now that we are paying for an additional year.
  • Another negative is that we've spent a lot of time discussing this issue with Plate IQ, to no avail. They feel it's appropriate to charge a company for an entire year of service even though said company emailed to cancel prior to the end of the first year of service.
  • We also wasted a lot of time onboarding this company only to find out that the software left a lot to be desired.
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ScreenShots