Home/Accounting Software/AvidXchange
Updated on: November 15, 2019
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AvidXchange - Accounting Software : SaaSworthy.com
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AvidXchange

Improve your accounts payment processes and operations
(53 Ratings) Write Review

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.

AvidXchange Features Show All Features

AvidXchange Technical details

Support Business Hours Online Customer Type Medium Business Small Business
API NA Location / Phone Number Charlotte, NC - 28206 / 800.560.9305
Deployment SaaS/Web/Cloud Category Accounting Software

AvidXchange Pricing

Pricing ModelFree Trial , Quotation Based
How much does AvidXchange cost ?
AvidXchange provides a custom pricing for their software.
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 06/12/2018 from the vendor website and may be different from actual. Please confirm with the vendor website before purchasing.

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AvidXchange Reviews

OVERALL RATING
4.4
Based on 53 Rating(s)
Rating Distribution
  • 44
  • 6
  • 2
  • 1
  • 0
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Source : g2crowd.com
(Reviewed on 30 May 2019)
""2+ year Successful User""

What do you like best?

Traditionally our company handled the entire payables cycle manually. As we have grown it became more evident that the volume of invoices that were being processed was hindering real time cost and 'global view' of our jobs. The need for a more streamlined, less incumbent process became more evident, as well as the need for users to instantly be able to access an invoice image. As a processor I like not having to manually enter our invoices and saving (2) - (3) days in processing time.

What do you dislike?

Project setup is somewhat a challenge because of the (2) step code integration. It would be nice to be able to enter this at the time of initial setup when mapping the addresses. This is the only current dislike I have encountered.

What problems are you solving with the product? What benefits have you realized?

There are many benefits to the solutions we use including AVIDInbox, Invoice, and Pay. As previously stated the time savings in processing is phenomenal, there is little to no paperwork, and all of the invoices are available online. There is also real time cost capture which assists our team in making sure that our budgets and costs are in line on a continuous basis.

...more
Source : g2crowd.com
(Reviewed on 27 May 2019)
"AvidXchange Review"

What do you like best?

I love the fact that it streamlines the process and has taken quite a load of work off my hands! AvidXchange also offers us the chance to go paperless which I feel is a big plus!

What do you dislike?

The growth they are experiencing right now seems to impede there ability to offer there offer their services. Responses are slower and there have been a lot more "glitches." Otherwise there service seems to be the same as it has been.

Recommendations to others considering the product:

Make sure that you ask about how there growth is hindering there processes.

What problems are you solving with the product? What benefits have you realized?

Again, our major problem that was solved with AvidXchange is the fact that it streamlined our AP process and helped us go paperless!

...more
Source : g2crowd.com
(Reviewed on 26 April 2019)
"Does its job"

What do you like best?

AVID rarely breaks down or causes any problems for my management team. It's quite reliable.

What do you dislike?

Nothing, honestly. AVID does its job perfectly.

What problems are you solving with the product? What benefits have you realized?

Problems solved: relaibable invoice processing software, straightforward

Benefits: no problems

...more
Source : g2crowd.com
(Reviewed on 01 April 2019)
"Kind of Clunky Software for Invoicing"

What do you like best?

I think the workflow tracking is good with this software in comparison to other products on the market. You can easily make comments to other people in the workflow and communicate back and forth.

What do you dislike?

It is slow, inefficient and clunky as well. It is difficult to search for past invoices, and the coding process is very unconventional with the number of buttons you have to click to simply code an invoice. It also does not separate different billing properties well.

Recommendations to others considering the product

rCash (Yardi), MRI and many other platforms seem to be a lot more functional than this one. If you need to do a lot of communicating with various parties throughout the AP process, then this may be great for you. Otherwise, the platform is set up very inefficiently in comparison to other products on the market.

What business problems are you solving with the product? What benefits have you realized?

We are able to communicate with accounting and ownership (who are both remote) on invoicing tasks.

...more
Source : g2crowd.com
(Reviewed on 25 March 2019)
"Great Paperless System!"

What do you like best?

The best part of AvidXchange is being paperless and having a history for every single invoice that is processed. Gone are the days of spending afternoons filing away paid invoices or trying to track down an old invoice only to find it has vanished.

What do you dislike?

The part we really struggle with is the Indexing portion. Due to the large amount of entities we have and the amount of invoices that are processed, working with vendors to have the correct information on them is difficult. This leaves a lot of invoices in research queues that need to be researched and handled.

What business problems are you solving with the product? What benefits have you realized?

Tracking down invoices has become so much easier, especially when it comes time for audits.

...more
Source : g2crowd.com
(Reviewed on 18 February 2019)
"One of the best Automated AP systems"

What do you like best?

Ability to simply forward invoices to an email that will automatically be sent into Avid. Having the options to set as many or as few people as you need in the approval workflows. Easily integrates with our MRI accounting software.

What do you dislike?

High turnover rate with the data processing team. One week all you invoices are going to the correct workflow, the next, everything is put in pending queues and require my decisioning to to process.

Recommendations to others considering the product

Be sure it fully integrates with your other accounting software. We use MRI and it works pretty well. Realize that invoice submission is at times tricky. You will need to provide all your vendors with a letter stating the requirements their invoices must meet in order to process payments without delays.

What business problems are you solving with the product? What benefits have you realized?

No more paper invoices, much faster pay out and less late fees.

...more
Source : g2crowd.com
(Reviewed on 16 December 2018)
"Convenient"

What do you like best?

The software is easy to use, submitting invoices is easy, and tracking is a breeze.

What do you dislike?

Reporting user interface is not very user-friendly; coders occasionally code the invoices to the wrong property.

Recommendations to others considering the product

Ensure that everyone involved inthe workflow understands how to void / dispute / add comments. It will make your life easier when researching why an invoice was not paid or why it is pending.

What business problems are you solving with the product? What benefits have you realized?

Time-savings, cost savings, ease of tracking.

...more
Source : g2crowd.com
(Reviewed on 05 December 2018)
"Great company and great product"

What do you like best?

I like visibilty to all our invoices in Avid. This increases accuracy of GL coding and accruals. This visibilty also creates efficiencies during year-end audits since we give access to the system to our auditors.

What do you dislike?

Reporting module needs updated to make it more flexible , give it a more contemporary look and allow us to make it available to all users.

What business problems are you solving with the product? What benefits have you realized?

Eliminated paper, strengthened internal controls over invoice approvals & increased electronic payment adoption by our vendors.

...more
Source : g2crowd.com
(Reviewed on 25 November 2018)
"Very Good A/P Automation System"

What do you like best?

viewing invoices online rather then paper statements

What do you dislike?

sometimes takes a little too long for invoices to be uploaded and payments to get through the mail to vendors

Recommendations to others considering the product

If your a smaller company - make sure you have someone dedicated to the original setup/training processes.

What business problems are you solving with the product? What benefits have you realized?

Allowing more time to be allocated towards other work, eliminates paper files, vendors like receiving payments electronically.

...more
Source : g2crowd.com
(Reviewed on 11 November 2018)
"Best solution for the price"

What do you like best?

For the money I would rate Avid as one of the best, if the note the best automation solution available. The amount of processing that we need to do has been cut in half since we have gone live with Avid and we are not looking back. I envision we can increase our payables by another 50% before we will need to increase staff.

We also like the method of submission for invoices. Avid uses Indexers rather than OCR which means you have a person looking at every invoice that is sent to the system.

Another great thing has been the reduction in paperwork. Because every invoice is captured in the system you never have to worry about losing an invoice again! I came into a completely paper based system and people are constantly surprised as the speed we are able to retrieve invoices.

And I can't end this without mentioning AvidPay. We currently write 500+ checks a month but will be able to reduce that to zero or very close to zero once we have fully automated payments. This will be another huge efficiency boost in our AP cycle.

What do you dislike?

One caveat is make sure you have fully demoed all modules and are very clear on what you are getting. The PO module is why I didn't give 5 stars and while I knew it wasn't as powerful as some others I was lead to believe it contained elements that it in fact, did not.

As I stated above, Avid uses Indexers rather than OCR and while you think the learning curve might be quicker for people vs a computer that is not necessarily true. The indexers do make mistakes and you need to pay close attention early in the implementation to make things are being coded correctly. You also need to submit tickets as things come up to help the indexers with the way you do things, or want them done. This be very helpful in the long run.

Recommendations to others considering the product

Test other systems and make sure they integrate seamlessly with your ERP/GL system. Demo all aspects and don't be afraid to ask questions about the products and what they offer.

What business problems are you solving with the product? What benefits have you realized?

Reduction in paperwork, payment processing times and missed invoices.

...more
Read All Reviews

Videos on AvidXchange Youtube Official Channel

AvidXchange Screenshots

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
avidxchange Screenshots
avidxchange Screenshots
avidxchange Screenshots
avidxchange Screenshots
avidxchange Screenshots
avidxchange Screenshots
AvidXchange screenshot: AvidXchange allows users to pay vendors electronically
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
avidxchange Screenshots
avidxchange Screenshots
avidxchange Screenshots
avidxchange Screenshots
avidxchange Screenshots
avidxchange Screenshots

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