AvidXchange

About AvidXchange

Deep Dive with Clara AI

AvidXchange enables you to automate the entirety of your accounts payable process. As part of this functionality, AvidXchange allows you to reduce your processing costs, accelerate the approval process, as well as almost completely eliminate paper, which provides sustainability benefits for your company. This solution also ensures you have complete control over your spending, as well as visibility into and transparency within this. With AvidXchange, you can automate your manual accounts payable tasks, while reducing time your team spends wasting doing things such as chasing approvals, processing paper invoices, and answering inquiries. With AvidXchange’s Purchase-to-Pay (P2P) automation functionality, you can streamline your purchasing operations and processes, including ensure you have optimal spending in place, improving the reports you produce, and enhancing the way you budget for your whole company. This will enable you to run more effective and efficient AP processes, while always staying compliant.

Screenshots & Videos

AvidXchange screenshot: AvidXchange allows users to pay vendors electronically

AvidXchange screenshot: Over 50 standard reports are built into AvidXchange, and users can define their own custom reports

Pricing

Free Trial Available
Offers Custom plan.
View Detailed Pricing

SW Score Breakdown The SW Score breakdown shows individual score for product features.Read more

Features The Feature Score % is calculated using the weighted average method, where core features hold more weight in the final calculation. Read more

97%
Reviews

60%
Momentum

71%
Popularity

69%

Platforms Supported

Browser Based (Cloud)

Organization Types Supported

Medium Business
Small Business

API Support

NA

Modes of Support

Business Hours, Online

AvidXchange Features

Show Feature Explanation

Show Missing Features

Accounts Payable Automation Features

Features: The Feature Score % is calculated using the weighted average method, where core features hold more weight in the final calculation. Read more

97%

ACH Payment Processing

Offers support for ACH, virtual cards, checks, and wire transfers.

Invoice Matching

Automatically matches invoices with purchase orders and receipts (2-way / 3-way matching).

Invoice Capture

Utilizes OCR technology to efficiently capture and process data from both paper and digital invoices, ensuring accurate and structured data entry.

ERP/Accounting Integration

Seamlessly integrates with ERP and Accounting tools like QuickBooks, Xero, NetSuite, and SAP.

Audit Trail

A record of changes made in chronological order of a user or activity

Approval Workflow

Allows to route the documents to one or multiple people for seeking their approval

Duplicate Detection

Detects duplicate data and notifies the users about potential duplicates

Vendor Management

Helps to manage necessary data concerning vendors and allows easy access

Fraud Detection

Detect foul practices and handle disputes between participants, if any

Multi-Currency

Enables payment and collection in multiple currencies.

Compliance Management

Helps in making an assessment of risks, ensures policy comprehension and that policies/procedures are being followed

AvidXchange Pricing

Free Trial

Available

Pricing Options

Premium Plans ( Quotation Based )

AvidXchange Custom

Features

Purchase Order Application
Bill Services
Invoice Application
Payment Application
Pay Services

Contact the vendor to get the latest pricing detail.

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Disclaimer: The pricing details were last updated on 26/10/2021 from the vendor website and may be different from actual. Please confirm with the vendor website before purchasing.

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AvidXchange Reviews

User Sentiments

Automated Invoice Processing, User-Friendly Interface, Streamlined Approval Process, Comprehensive Invoice Tracking

Slow Payment Processing, Indexing Errors, Occasional System Bugs, Limited Workflow Customization

Do You Use AvidXchange?

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Review Summary

Overall, AvidXchange users appreciate its user-friendly interface, automation capabilities, and excellent customer support. It is known to streamline processes, improve efficiency, and provide detailed insights into financial data. However, some users have reported occasional technical glitches and a learning curve for new users. The pricing structure may also pose a concern for some businesses. Additionally, some users have highlighted the need for more robust reporting and analytics capabilities. Despite these drawbacks, AvidXchange remains a popular choice for businesses seeking a comprehensive and user-friendly financial management solution.

Pros

Automates accounts payable processes, including invoice capture, approval, and payment.
Provides realtime visibility into cash flow and budget.
Streamlines vendor management and improves communication.