Overview
What is AvidXchange?
AvidXchange is an automated bill payment system.
Excellent invoice processing option
Very Pleased with AvidXchange
A good Accounting Product for non Accounting Users
AvidXchange Impressed Me
Scalable invoice processing solution for our integrated team
AvidXchange review
New Hope AvidXchg Review
A Solid A/P Business Partner!
AvidXChange Review
AvidXchange Review
Activate AvidXchange
The Perfect Solution
AvidXchange a Move Towards the Future
Using AvidXChange for Multi-Property Portfolios is a No-Brainer!
I’ve been using AvidXchange for over ten years and couldn’t imagine doing my job without it.
As a property manager with 32 sites, …
Accounts Payables
Pricing
AvidXchange
5,000
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
AvidXchange Speeds Up Development and Time-to-Market with Logi Analytics
Streamline Your Entire AP Process with AvidXChange Pay
AvidXchange: Building A World-Class AP Department
CREtech Virtual Demo Day 5/5/20 - AvidXchange
CREtech Virtual Demo Day - AvidXchange
Product Details
- About
- Integrations
- Competitors
- Tech Details
- FAQs
What is AvidXchange?
AvidXchange Video
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
Comparisons
Compare with
Reviews and Ratings
(45)Community Insights
- 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.
-
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.
-
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.
-
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:
-
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.
-
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.
-
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
(1-4 of 4)- Tracks invoice history
- Easy to route
- Converts invoices to electronic versions
- Cost
- Levels of approving parties
- Training for new users
- Easy to route
- Searchable archive and trackable history
- Convert email invoices, PDF, etc., to electronic versions
- Saves time
- Builds accountability
- Gives line of sight to multiple parties on approvals
AvidXchange a Move Towards the Future
- 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.
- We can see our ROI pretty quickly. The AP Department was restructured to be more efficiently utilized.
- The process of receiving, approving and paying invoices has decreased dramatically.
- Our Management who relies on seeing the image of the invoice at their fingertips can now do that, prior to AvidXchange that was not always the case.
- CSI
Using AvidXChange for Multi-Property Portfolios is a No-Brainer!
I’ve been using AvidXchange for over ten years and couldn’t imagine doing my job without it.
As a property manager with 32 sites, digitizing the accounts payable process is a necessity. Processing approximately 1600 invoices every 90 days, record keeping can be harrowing. Gone are the days of being handed folders of invoices to approve against a stapled stack of G/L account codes. All I have to do is login from any computer and AvidXchange provides a seamless system for tracking and approving our property invoices.
The software integrates with our MRI accounting system, allowing for easy upload. We can assign workflow approval levels to differentiate between general OPEX and Capital Expenditures. As such, invoices that require owner/client approval can be streamlined with added comments. Most importantly, for construction or large tenant improvements, we can attach pertinent contract information to the invoice.
- 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.
- Searching for invoices: Because of the number of properties we have, AvidBill automatically codes an invoice internally to one property, but we may find upon review that it is really for a different property. When we search for an invoice, it won't show as the corrected Property ID, rather the first one entered.
- Vendor Names: I know this is a matter of human data entry, but oftentimes there are multiple vendors with the same name entered. The system may not grab the one that is intended for our company.
- AvidXchange has increased our efficiency 100%. It used to take 30-60 days to receive, code and process invoices. Now, they are uploaded, coded and approved within days.
- No negative impact at all. Couldn't imagine working without this software.
- 2 Administrative staff
- 1 Assistant Property Manager
- 1 Chief Engineer
- 1 Construction Manager
- 1 Construction Admin
- 1 Owner/Client
- 1 Accounts Payable processor
- Streamlining paperwork process.
- Workflow and coding approval process.
- Keeping digital copies of pertinent AIA or construction documents.
- Don't know
Accounts 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.
- I think their customer service needs some improvement and better training module for their clients. Video training just does not work for all organizations.