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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

(1-1 of 1)
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Richard Maritt, CMCA, AMS | TrustRadius Reviewer
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.
It is well suited for a company like ours with three primary offices and an additional 50 satellite offices. It provides a way for things to be centralized with uniform access to information and processing. As well, the processes and communication remain consistent when you are working with a company of this scale as they do not experience hiccups when a single staff member may be out for vacation, sick, or due to a staffing shortage. Things just continue on as expected.
  • Hard costs have grown related to costs involved with being a part of AvidXchange. However, soft/hidden/assumed costs have likely dropped. They are just less apt to be noticed when the upfront hard costs are easy to determine.
  • Check turnaround time has remained good. Our previous system permitted us to get checks out the door the day after an invoice was approved by the reviewing manager. That schedule has been maintained despite the checks now being mailed by AvidXchange and from a far away location.
  • Some vendors have worked with us for 10+ years and do not like mailing invoices to a location far away rather than sending to us locally. Of course, we have offered them the ability to email directly to AvidXchange. Some still prefer mailing and are small enough they believe the operations office should receive the bill....which then means we need too many folks to process the incoming invoice mail.
  • SIRE and Manual
SIRE became bogged down over time, began having more downtime, worked slower than expected, and had stopped advancing the development of its features. As such, we had to find an alternative. For our size (not small and not big), we needed something which got narrowed down to Strongroom and AvidXchange. Since AvidXchange purchased Strongroom, it became a no-brainer as to which company's product we would be using. Compared to the manual processing of invoices, this is much better as they can be reviewed and approved remotely in addition to the archive being searchable from anywhere.
160
130 are managers, 20 are accountants, and 10 are executive team members/supervisors.
3
The three people only have to support it on an as-needed basis. They are:
  • IT Dept rep - to ensure integration with accounting software is maintained and up-to-date
  • Accounting Dept rep - to ensure proper process flows are assigned to each account and their team members are properly assigned to each
  • Operations Dept rep - to ensure managers are trained on using the system and to ensure each manager and their supervisor is properly assigned to their managed accounts as they come on new or change
  • n/a
  • n/a
  • n/a
  • n/a
  • n/a
  • n/a
  • n/a
  • n/a
  • n/a
It is nearly failure proof, has amazing "up time", and has (overall) reduced our personnel and check printing costs.
Yes
SIRE became bogged down over time, began having more downtime, worked slower than expected, and had stopped advancing the development of its features. As such, we had to find an alternative.
  • Price
  • Product Features
  • Product Usability
  • Product Reputation
Up time, mobile abilities, integration with our accounting software, and payment turnaround time were all factors. Accountings software was the most important so we would have no staff manually inputting entries of invoices or payments.
n/a
  • Implemented in-house
No
Change management was minimal
n/a
  • n/a
n/a
No
Not needed
Except for occasional escalations needed to Level 2 support, they are efficient and quick with nearly all requests.
No
n/a
  • GL coding of invoices
  • Approving invoices for payment
  • Setting specific dates for payment
  • Placing invoices to be held for awhile on "hold" so they don't clutter your queue
  • Instant creation of invoices (self-uploading) is not as intuitive as one would hope as it requires 2 fields to be completed prior to the upload occurring though the system WILL permit you to attempt an upload if you do not first complete those fields. It should either work both ways or you should be forced to complete the steps in the order the system requires.
Yes
It works like a non-mobile friendly website so there is too much scrolling back/forth up/down compared to a truly mobile site.
Except the one difficult/cumbersome point I made, it is a strong, solid, easy-to-use system.
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