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AvidXchange has been a go-to solution for over ten years, helping users digitize their accounts payable process and streamline invoice …
Starting at $5,000 per license
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What is AvidXchange?
AvidXchange is an automated bill payment system.
Recent Reviews
Pricing
AvidXchange
5,000
Cloud
per license
Entry-level set up fee?
- No setup fee
Offerings
- Free Trial
- Free/Freemium Version
- Premium Consulting/Integration Services
Product Demos
EXTENDED SOLUTIONS: AvidXchange - Why You Should Automate AP
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AvidXchange Speeds Up Development and Time-to-Market with Logi Analytics
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Streamline Your Entire AP Process with AvidXChange Pay
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AvidXchange: Building A World-Class AP Department
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CREtech Virtual Demo Day 5/5/20 - AvidXchange
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CREtech Virtual Demo Day - AvidXchange
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Product Details
- About
- Integrations
- Competitors
- Tech Details
- FAQs
What is AvidXchange?
AvidXchange is a cloud-based automated bill payment and invoicing system from AvidXchange, Inc headquartered in Charlotte, NC. The software provides accounts payable solutions via invoice capture, approval routing, and payment automation. Its reporting tools allow for customized ad hoc reports of transaction data. Its design is meant to mirror a company's approval processes and workflow, capturing invoices and their status and leaving a clear audit trail. It's functionality is augmented via integration with a more comprehensive accounting systems (e.g. NetSuite, Quickbooks), should this be desired. It is mobile-accessible.
AvidXchange guarantees a full implementation of their automated process within 45 days of starting. Transitioning is supported with training materials, hands-on configuration session and support, a project plan and templates to guide the process. A free demo is available.
AvidXchange Video
AvidXchange is the industry leader in automating invoice and payment processes for mid-market businesses. With 1,500 employees supporting 6,000 customers across North America, AvidXchange processes over $140 billion transactions annually across its network of more than 680,000...
Show More AvidXchange Integrations
- Sage Intacct
- AccountMate
- Acumatica
- AppFolio Property Manager
- Buildium
- CMiC Construction Platform
- Entrata
- Certinia ERP Cloud
- NetSuite ERP
- Oracle JD Edwards EnterpriseOne
- PeopleSoft eProcurement
- ResMan
- Sage 100 Contractor
- Sage 300 Construction and Real Estate
- Viewpoint Spectrum
- Yardi Breeze
- Viewpoint Vista
- SAP Concur
- Rent Manager
AvidXchange Competitors
AvidXchange Technical Details
| Deployment Types | Software as a Service (SaaS), Cloud, or Web-Based |
|---|---|
| Operating Systems | Unspecified |
| Mobile Application | No |
Frequently Asked Questions
AvidXchange is an automated bill payment system.
The most common users of AvidXchange are from Mid-sized Companies (51-1,000 employees).
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Reviews and Ratings
(45)
Community Insights
TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!
- Business Problems Solved
- Pros
- Cons
- Recommendations
AvidXchange has been a go-to solution for over ten years, helping users digitize their accounts payable process and streamline invoice management. Users across various industries have found the software indispensable in improving efficiency and eliminating the challenges associated with paper invoices. Property managers, in particular, have benefited greatly from AvidXchange's ability to seamlessly track and approve property invoices for multiple sites, making record keeping much easier. The software also integrates smoothly with other accounting systems like MRI, enabling easy upload and differentiation between different types of expenses. AvidXchange not only simplifies the approval process for invoices that require owner client approval but also provides additional features like comments and contract information attachments. Moreover, organizations with multiple locations have found AvidXchange invaluable in preventing the loss of approved invoices and facilitating invoice review. With its automated AP process, AvidXchange helps eliminate issues like lost invoices and late payments, allowing employees to focus on more strategic tasks within their roles. This software has been a game-changer for managing accountability, providing transparency and security throughout the approval processes at all levels. Additionally, AvidXchange's ability to generate reports easily from digital records has significantly reduced the time spent digging through paper files. Organizations of all sizes have benefited from AvidXchange's intuitive interface and comprehensive functionality, saving time and simplifying the payment process by streamlining bill pay. Furthermore, AvidXchange has proven to be an ideal solution for year-end audits due to its reliable compliance process and robust reporting capabilities. Whether it's managing invoices for managed entities or homeowner associations, this software offers a quicker turnaround time from receipt to payment issuance. Finally, vendors have also found value in utilizing AvidXchange as it simplifies invoicing procedures by automatically extracting header level information and routing invoices through workflows for approvals. Overall, AvidXchange has solved the problem of paper invoices by providing a sustainable and scalable invoice solution that is efficient, reliable, and user-friendly.
Time-saving Electronic Invoice Submission: Users have consistently praised AvidXchange's electronic invoice submission feature, stating that it has been a significant time-saver. Several users have mentioned that this feature eliminates the need for sorting and coding mail, streamlining their accounts payable process.
Efficient Approval Process with Comment Logging: The ability to log comments or questions in AvidInvoice has greatly improved communication and expedited the approval process, according to multiple reviewers. This feature allows for clarification on invoices, ensuring timely review and approval by all vested entities.
Accurate Expense Charging with Property Code and Allocation Features: Reviewers have highlighted the Property Code and Allocation features in AvidInvoice as highly valuable. These features enable accurate charging of expenses to the correct entities, even for multiple properties. Users appreciate the ease with which they can allocate expenses accurately within their portfolio.
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Limited mobile functionality: Some users have expressed frustration with the lack of a mobile app or full functionality on mobile devices, such as phones or iPads. This limitation hinders convenience and accessibility for customers who prefer to use their mobile devices.
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Inefficient refund process: Users have raised concerns about AvidXchange's approach to refunding payments not accepted by vendors. They feel that the software initiates refunds too quickly without conducting thorough research to understand why vendors refuse payments. This can lead to unnecessary refund processes and delays.
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Lack of customization in reporting: Several users have reported dissatisfaction with the reporting feature in AvidXchange. They feel that there is a lack of flexibility in customizing reports, as they can only provide all sections or individual reports instead of specific sections or customized reports. This restricts users' ability to obtain the specific information they need from the software's reporting capabilities.
Based on user reviews, users recommend the following for Avid:
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Use Avid to its fullest capabilities, including thorough testing before implementation and ensuring correct ownership of Supplier functions by AvidXchange. Working with the customer support manager for implementation items and integrations is also advised.
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Before signing up, conduct thorough research on Avid's integration with other software and understand what is wanted. It is important to consider how growth may hinder Avid's processes and ensure full integration with other accounting software. Providing vendors with a letter stating invoice requirements is also recommended.
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For smaller companies, it is suggested to have someone dedicated to the original setup/training processes. Additionally, having one person in the office who is familiar with the system can assist others during the transition period. While users appreciate the software's ease of use, they find the support for the software problematic and confusing at times.
Overall, users highly recommend Avid as a time-saving tool that simplifies the invoicing and accounting process. They emphasize maximizing its capabilities, conducting proper research, and ensuring adequate training and support for a successful implementation.
Attribute Ratings
Reviews
(1-6 of 6)Companies can't remove reviews or game the system. Here's why
July 27, 2021
Excellent invoice processing option
AvidXchange is our invoice processing platform. All vendors submit invoices to AvidXchange, header level information is extracted by their processors, and invoices are routed through workflows for approvals before coming to our Accounts Payable team for payment. It is essentially used by our whole organization, as most every department has a workflow and approver who uses it for approving and coding invoices. In our Finance Department, we use it extensively for vendor management, invoice paying, and accounts payable research. For us, the biggest problem it solved is the elimination of paper invoices. We were drowning under a pile of paper, and as our organization spread out more geographically, maintaining paper invoices and approvals was becoming impossible. AvidXchange allowed us to go electronic, streamline approvals, and have given us a much more sustainable and scalable invoice solution.
- Invoice processing
- Workflow capability
- Search functionality
- 1099/W9 functionality could be better
- For us, the PO capability is not very functional, but we acknowledge our operations are a little different than the normal business
- Would love two-way vendor management integration with our accounting software
March 09, 2021
AvidXchange review
We use AvidXchange daily to process invoices, our staff uses Avid to approve and code invoices.
- AvidPay
- Electronic invoices
- Searchable invoice functions
- Indexers accuracy
- 1099 functionality
- Reporting
August 02, 2018
A Solid A/P Business Partner!
Score 9 out of 10
Vetted Review
Verified User
We use AvidXchange throughout our entire organization. The invoices for 770 managed entities (homeowner and condo associations) are handled in it by 150 managers. It has allowed for remote invoice entry, quicker turnaround of invoice receipt to payment issuance, and a reduction in our mailroom workforce. Archiving of invoices and their remote access has been a huge advantage for us.
- Invoice creation/upload is simple for users needing immediate/quick entry/creation.
- Invoice assignment from one entity to another is quick and easy for administrators. Users can do so easily if it is a switch within their own portfolio to which they have access.
- Payment options offered to vendors are numerous. It is nice we can provide them with options.
- AvidXchange is too aggressive after payments are sent to vendors in their approach to getting the vendors to sign up for a virtual credit card payment. Some of our vendors have complained at how frequently or diligently they were were pursued by AvidXchange.
- When an invoice approver is to become unavailable temporarily due to vacation, illness, etc., they should be able to auto-assign a covering party for a determined length of time or through a particular date like our previous system did. There is no good way for this to be handled by AvidXchange.
April 28, 2017
The Perfect Solution
Score 10 out of 10
Vetted Review
Verified User
We use AvidXchange through our corporate office and five corporate locations. AvidXchange provides transparency; it provides our security for all approval processes at all levels. It's a perfect solution for our accounting need at year end audit.
- It's amazing. You can be an owner of multiple companies and have all the invoices paid from one solution, and it's all online and at your fingertips.
- Set up each company with their own bank account code the expense, review the invoice and send it for approval.
- Transparency. The approval process it set up at all levels. So you can have a first coded - then the department or manager that oversaw the work approve - then the final release of payment the accounting looking at the bank balance. You can set up at a certain dollar amount to receive a second or third approval if your company has partners or Board members.
- I have nine (9) different locations and global vendors in our set up. If I did not have AvidXchange, a day of check cutting [is what] I would need for each location and that is what I would do all week long. This is a click of the button, an approval process, a complete assembly line that works perfect and a massive time saver so I spend one hour a day on this.
- Credit Memos needs to be a better function. Currently this function does not work properly and pulls over into our accounting software Intacct.
April 04, 2017
AvidXchange a Move Towards the Future
Score 9 out of 10
Vetted Review
Verified User
AvidXchange is used throughout our whole organization. With approximately 170 locations we had issues with losing approved invoices from the locations and processing the invoice images/attachments for our locations to review. With AvidXchange the image is the 1st step in the process and approval is done online where it can be reviewed by whoever needs to review. Our whole AP Department is now used to manage the invoices versus just being someone who keyed the invoice into our system.
- 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.
- 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.
July 08, 2015
Accounts Payables
AvidXchange is used by our whole organization in the corporate office as well as our property management throughout the US. We are a Real Estate Management Investment Company and we use AvidXchange to pay all our property payables.
- AvidXchange invoicing system does flag duplicates if invoice information entered correctly by their Indexers.
- Their manual payments via check in my opinion seem to work better as vendors do not complain about payments as much.
- AvidPay Team is very supportive in helping out with vendor issues when payments have been made.
- Avid Support does need improvement, in replying to tickets in a much faster and timely manner. Usually my experience is a turn around of 24 to 48 hours when I need an answer a bit faster to get to our property management team or vendor.
- Avid virtual credit card can be also improved by letting vendors know fees associated with receiving payments in this manner. Seems most vendors are confused with VCC type payments.