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AvidXchange

AvidXchange

Overview

What is AvidXchange?

AvidXchange is an automated bill payment system.

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Recent Reviews

TrustRadius Insights

AvidXchange has been a go-to solution for over ten years, helping users digitize their accounts payable process and streamline invoice …
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AvidXChange Review

10 out of 10
June 26, 2017
My company uses AvidXchange in all departments to approve invoices and review what work is being done and how it should be paid. It helps …
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Accounts Payables

5 out of 10
July 08, 2015
Incentivized
AvidXchange is used by our whole organization in the corporate office as well as our property management throughout the US. We are a Real …
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Pricing

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AvidXchange

5,000

Cloud
per license

Entry-level set up fee?

  • No setup fee

Offerings

  • Free Trial
  • Free/Freemium Version
  • Premium Consulting/Integration Services
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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

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...
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AvidXchange Competitors

AvidXchange Technical Details

Deployment TypesSoftware as a Service (SaaS), Cloud, or Web-Based
Operating SystemsUnspecified
Mobile ApplicationNo

Frequently Asked Questions

AvidXchange is an automated bill payment system.

BILL, Tipalti, and MineralTree are common alternatives for AvidXchange.

The most common users of AvidXchange are from Mid-sized Companies (51-1,000 employees).
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Comparisons

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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!

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.

  1. 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.

  2. 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.

  3. 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:

  1. 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.

  2. 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.

  3. 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

(1-5 of 5)
Companies can't remove reviews or game the system. Here's why
Score 9 out of 10
Vetted Review
Verified User
Incentivized
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
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.
  • Electronic invoice processing
  • Digital invoice storage
  • Ease of pay options
  • Improved invoice processing speed
  • Improved invoice processing capability (without increasing staff)
  • Only negative is AvidXchange insists on attempting to sell its v-card payment method to vendors and does so in a less-than-above-board way, which has disgruntled some vendors when they discovered fees withheld that they didn't understand
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.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
I'm unable to answer the question directly because our organization used AvidXchange in a unique way. Our software is designed to accept payment directly. We have several clients who have to use AvidXchange to process their payments so we are on the receiving end of the process. With that explanation, a single department uses it, but again, it's on the receiving end.
  • AvidXchange's client portal is one of the best I've encountered. It's clear and easy to use. I appreciate their desire to constantly improve it.
  • Communication with AvidXchange is great! You can quickly get a hold of a real person and they've all been able to help resolve my issues quickly.
  • I haven't encountered anything that I think could be improved. I've been part of testing groups and they tend to notice things before I do.
I really appreciate their web portal. I can quickly and easily find what I need. Additionally, they're quick to process payments.
  • No response.
  • Because it's so easy to track the payment process, I'm able to see where our funds are and how quickly they'll arrive.
I haven't use any other products.
John R. Glaser | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Avid Exchange is used across all departments that are invoiced. I personally use it to manage my expenses for the lead generation program that I oversee.
  • Easy for non accounting personnel to use and understand
  • It is easy to manage a good volume of invoices
  • Reporting is easy to create
  • None really come to mind
As a Media Planner, I receive a lot of invoices monthly from a lot of different vendors. AvidExchange helps me submit my invoices to accounting and allows me to put in notes to customize my payments.
  • Easy to use for non accounting people
  • It helps me make my month end closing easier
Matthew Kreutzer | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
We recommend AvidXchange to organizations of all sizes. This product helps the finance team improve the Accounts Payable process. We have seen organizations simplify the payment process by adopting this solution. These organizations streamline the entire bill pay process with document management and can even process the payment. I have seen this solution save 10-20 hours per month.
  • Streamline AP Processes
  • Paperless Invoice Processing
  • Bill Payment Automation
  • Integration with Financial Edge NXT
  • Search for previous invoices could be easier
AvidXchange is great for organizations that have need for automation. This is a time saving solution. This solution helps organizations: procure items, create purchase orders, route invoices, save documents, and process payments. This is a great solution for anyone who is looking to cut down on the hours involved in the accounts payable process.
  • Workflow automation
  • Document Management
  • Saves time in the AP processing
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Our mid-size independent marketing agency uses AvidXchange to track invoices and route them internally for approval. Invoices and purchase orders are processed internally via AvidXchange.
  • Tracks invoice history
  • Easy to route
  • Converts invoices to electronic versions
  • Cost
  • Levels of approving parties
  • Training for new users
AvidXchange works well in our integrated environment where different service stakeholders have a line of sight on projects and vendor payments that require approval across internal segments.
  • 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
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