Melio is a small business-oriented Accounts Payable tool, presented as a service that helps small businesses keep up with business. A B2B payments experience and payment workflow designed to be simple, and to enable businesses to pay domestic and international vendors, expedite payments, or pay by card.
N/A
Pricing
AvidXchange
Melio
Editions & Modules
AvidXchange
5,000
per license
Card processing fee
2.9%
Offerings
Pricing Offerings
AvidXchange
Melio
Free Trial
No
Yes
Free/Freemium Version
No
No
Premium Consulting/Integration Services
No
No
Entry-level Setup Fee
No setup fee
No setup fee
Additional Details
—
—
More Pricing Information
Community Pulse
AvidXchange
Melio
Features
AvidXchange
Melio
Payment Management
Comparison of Payment Management features of Product A and Product B
AvidXchange
9.8
Ratings
26% above category average
Melio
8.8
Ratings
15% above category average
Customizable Approval Policies
10.00 Ratings
9.20 Ratings
Financial Document Management
9.00 Ratings
7.50 Ratings
Payment Status Tracking
10.00 Ratings
9.20 Ratings
Payment Audit Trail
10.00 Ratings
9.20 Ratings
Duplicate Bill Detection
10.00 Ratings
8.70 Ratings
Advanced OCR
00 Ratings
8.20 Ratings
Electronic Funds Transfer
00 Ratings
9.20 Ratings
Accounts Payable
Comparison of Accounts Payable features of Product A and Product B
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.
Melio is particularly well suited for small businesses above $100K in revenue whose owners want to save time and simplify bill payments. It is helpful to bookkeepers so that they don't have to ask the owners, over and over again, "what was that check for?" and "can you send me the bill?"
Automation: Every part of Avid's process is automated through the use of workflows established by the AvidXchange administrator. This allows all vested entities to review and approve the payment of an invoice in a timely manner.
Transparency: As an invoice goes through the review and approval process, every step is documented and available for review. This ensures all parties are appropriately vested in ensuring the timely approval of invoices for payment
Accuracy: Automating the AP process has helped to minimize the risk for errors that occur through manual invoice entry and approval.
The simplicity it adds to business payments is a great deal. One feature we really value it the ability to pay vendors by check. Melio prints and mails checks for us which saves time and hassle.
Payment scheduling tool is another thing we enjoy. This tool lets us plan ahead and manage cash flow more effectively by setting payment dates in advance.
Another thing Melio does well is the tracking of payment.
There was a time a vendor claimed that they hadn't been paid, but with just a few clicks we could see the check has already been delivered.
This kind of transparency gives us confident and keep things professional.
The integration with other platform or accounts like QuickBooks is an experience I did love to keep.
I really wish there was a way for AvidXchange indexers to "get to know" the companies they index for. The indexing policies are such that it leaves little room for common sense and I do a fair share of correcting workflows and such.
There should be an automatic link between vendors added with their Melio link and the same vendors that already exist in QuickBooks. As it is now, a new vendor is created when you do that and is not linked with the one that already is in QuickBooks.
AvidXchange is very easy to use and the customer service is always there is you need help or more training. New employees even comment on how easy it is to pickup the program.
Melio has been a very important tool in the advancement of our business. With great features, it has made payments to vendors seamless and hassle free. In terms of vendor management, account/data tracking, and scheduling of payments in advance. This has formed the base that we are still with Melio till today.
At the time we moved to AvidXchange; CSI did not have the full functionality of processing invoice for payment. We only utilized them for specific vendor who took payments via virtual credit card. All invoices were processed in house by our AP Department.
Melio is 100% free if you just use ACH, and that by itself would be reason enough for me to stick with the platform, it boats a ton of other useful features that add to the experience.
AvidXchange has saved us on payroll by making the process go from hours to minutes. It really cuts down the time needed to get invoices approved and into QB for payment.
It is very easy to train employees to use which also saves time and money.
I have been able to save hours every week now that I am only using Melio as my payment processor
I can easily add invoice details which I use to create in another platform and upload to Melio, this saves me time with projects I want to be quicker with
The ease of use for my clients is fantastic, and makes for a seamless workflow
