AvidXchange Reviews & Pricing

by AvidXchange | Founded 2000, Charlotte, NC

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What is AvidXchange?

Industry Specialties: Serves all industries

AvidXchange is an accounts payable software company that helps mid-market-sized companies automate invoice and payment processing. Instead of replacing the existing system, it digitizes and transforms all systems electronically without letting the business lose control over the process. It automates all the payable processes and allows the accounting team to electronically review and direct the invoices based on rules and alerts set by the company.

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User Sentiment

Based on 181 reviews:

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AvidXchange Pricing

Based on our most recent analysis, AvidXchange pricing starts at $440 (Monthly).

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Starting From: $440
Pricing Model: Monthly
Free Trial: No

Training Resources

AvidXchange is supported with the following types of training:

Documentation
In Person
Live Online
Videos
Webinars

Support

The following support services are available for AvidXchange:

Email
Phone
Chat
FAQ
Forum
Help Desk
Knowledge Base
Tickets
Training
24/7 Live Support

AvidXchange Benefits and Insights

Why use AvidXchange?

Key differentiators & advantages of AvidXchange

Paperless Invoicing: Eliminate the need for paper bills with electronic data for payment processing, thus saving significant time and money. Reduce processing time by 700% and improve the output required to upscale the company.
Save Money: Reduce the payment processing cost by 60% with automation, thereby eliminating the need for manual intervention and paper usage. Run auditing and cost processes efficiently with an electronic trail for each record.
24/7 Accessibility and Security: Get data round the clock, secured by the SSAE 16 facility secure feature. Leverage robust disaster recovery systems to help the team in disaster by backing up the critical data.
Greater Productivity: Eliminate the manual intervention and burden of repetitive tasks, making the whole process productive and scalable. Ensure quick and safe payments.

Industry Expertise

It’s hailed as a robust, AI-powered AP automation tool by businesses operating in the banking sector, health care, hospitality, real estate, technology and software.

AvidXchange Reviews

Average customer reviews & user sentiment summary for AvidXchange:

181 reviews

92%

of users would recommend this product

Synopsis of User Ratings and Reviews

Based on an aggregate of AvidXchange reviews taken from the sources above, the following pros & cons have been curated by a SelectHub Market Analyst.

Pros

Reduced Invoice Processing Time: AvidXchange automates invoice data capture and approval routing, which can significantly reduce the time it takes to process invoices compared to manual methods.
Improved Payment Accuracy: Automating the accounts payable process with AvidXchange can help to reduce errors that can occur with manual data entry and payment processing.
Enhanced Visibility and Control: AvidXchange provides users with real-time visibility into invoice and payment status, as well as the ability to set up custom approval workflows and controls.
Streamlined Vendor Payments: AvidPay, a service offered by AvidXchange, allows businesses to pay their suppliers electronically through a single platform, which can simplify the payment process and reduce the need for paper checks.

Cons

Customer Service Issues: Users have reported challenges in getting timely and effective support from AvidXchange's customer service team, leading to frustration and delays in resolving issues.
Integration Challenges: Integrating AvidXchange with existing accounting software or ERP systems can be complex and time-consuming, requiring significant IT resources and potentially causing disruptions to workflows.
Cost Considerations: AvidXchange's pricing structure, which often involves transaction fees and subscription costs, can be a concern for businesses with tight budgets or high invoice volumes, potentially impacting their bottom line.
Learning Curve: The platform's interface and features can have a steep learning curve for new users, requiring additional training and time to become proficient, which may impact productivity during the initial implementation phase.

Researcher's Summary:

AvidXchange automates the typically tedious accounts payable process, but how does it stack up against the competition? User reviews from the past year highlight both the platform's strengths and weaknesses, painting a picture of who this software might be a good fit for.

AvidXchange shines in its ability to streamline invoice processing and approvals. Users rave about the time saved by automating tasks like data entry and routing invoices to the right people. The platform's approval workflows are lauded for their customizability, allowing businesses to tailor the process to their specific needs. This is a major advantage over competitors like Bill.com, which offer less flexibility in this area. Additionally, AvidXchange's integration with various accounting systems is a significant plus, eliminating the need for manual data transfer and reducing the risk of errors.

However, the platform isn't without its drawbacks. Some users find the interface clunky and difficult to navigate, particularly when compared to more modern and intuitive platforms like Tipalti. The initial setup process can also be time-consuming, requiring significant effort to configure workflows and integrate with existing systems. This can be a deterrent for smaller businesses with limited resources.

So, who is AvidXchange best suited for? Mid-sized to large businesses with complex accounts payable processes stand to benefit the most. The platform's automation capabilities and customizability can significantly improve efficiency and reduce errors for organizations dealing with a high volume of invoices. However, smaller businesses or those seeking a more user-friendly experience might find better options elsewhere. Keep in mind that the software landscape is constantly evolving, so it's always a good idea to check for the latest reviews and comparisons before making a decision.

Key Features

Utility Bill Management: Offer a separate program for the management and payments of utility bills. Check the meter reading continuity, monitor rate variances for irregularities, detect duplicate utility bills and more.
Bill Payment Software: Offer two methods of payment to settle the invoices. Use a digital check creator or route to an e-payment application to settle the bill.
Invoice Management Software: Give vendors the freedom to choose the format to send the invoices. Code the invoice, assign it to a workflow and send it electronically for approval.
Purchase Order Software: Create official orders for goods and services to speed up the buying process online. Send the purchase order to vendors and the invoice to the business’s email address.
Cloud-Based Delivery: Get online access 24 hours a day with the cloud-based accounts payable platform. Streamline the approval process by optimizing vendor portfolios and eliminating duplicate entries.
Subscription Billing: Bill customers automatically on a fixed schedule for products and services. Predict revenue each month and ensure that there are not excessive supplies than required.
Invoice Tracking: Automate account receivables process by connecting and syncing invoices from invoice tracker and bank accounts. Keep track of unpaid bills with a few clicks. Save time spent making calls and sending emails and boost business profitability.

Limitations

At the time of this review, these are the limitations according to user feedback:

Cumbersome setup.
Hard to locate a lost or missing check.
Can't make changes to supplier preferences.
Slow customer support.
Can't see if the check has been cut or sent until the AP department manually updates.

Suite Support

Email: Not listed.

Phone: +1 (800) 560-9305 for the U.S.

Training: Get on-demand webinars, FAQs, downloadable resources and more under the resource tab.

Tickets: Submit tickets through the contact us page, where customers learn about products or services, reach out to customer support or talk to the supplier support team by filling out a form.