TrustRadius Insights for AvidXchange are summaries of user sentiment data from TrustRadius reviews and, when necessary, third party data sources.
Pros
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.
We use it to approve bills for our stores. The invoices are initially coded by an accountant and approved so that the GM then has to view and approve the bill.
Pros
Imports into Intacct
Support is quick to help
Invoices also import into Intacct
Cons
Issues with vendors receiving VCC
Likelihood to Recommend
It is well suited so you don't have to follow email trails of managers approving bills to be paid. You can see the audit trail for each bill to see who approved it so there is no confusion.
AvidXchange is our invoice processing platform. All vendors submit invoices to AvidXchange, header level information is extracted by their processors, and invoices are routed through workflows for approvals before coming to our Accounts Payable team for payment. It is essentially used by our whole organization, as most every department has a workflow and approver who uses it for approving and coding invoices. In our Finance Department, we use it extensively for vendor management, invoice paying, and accounts payable research. For us, the biggest problem it solved is the elimination of paper invoices. We were drowning under a pile of paper, and as our organization spread out more geographically, maintaining paper invoices and approvals was becoming impossible. AvidXchange allowed us to go electronic, streamline approvals, and have given us a much more sustainable and scalable invoice solution.
Pros
Invoice processing
Workflow capability
Search functionality
Cons
1099/W9 functionality could be better
For us, the PO capability is not very functional, but we acknowledge our operations are a little different than the normal business
Would love two-way vendor management integration with our accounting software
Likelihood to Recommend
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.
VU
Verified User
Analyst in Finance and Accounting (201-500 employees)
I'm unable to answer the question directly because our organization used AvidXchange in a unique way. Our software is designed to accept payment directly. We have several clients who have to use AvidXchange to process their payments so we are on the receiving end of the process. With that explanation, a single department uses it, but again, it's on the receiving end.
Pros
AvidXchange's client portal is one of the best I've encountered. It's clear and easy to use. I appreciate their desire to constantly improve it.
Communication with AvidXchange is great! You can quickly get a hold of a real person and they've all been able to help resolve my issues quickly.
Cons
I haven't encountered anything that I think could be improved. I've been part of testing groups and they tend to notice things before I do.
Likelihood to Recommend
I really appreciate their web portal. I can quickly and easily find what I need. Additionally, they're quick to process payments.
Avid Exchange is used across all departments that are invoiced. I personally use it to manage my expenses for the lead generation program that I oversee.
Pros
Easy for non accounting personnel to use and understand
It is easy to manage a good volume of invoices
Reporting is easy to create
Cons
None really come to mind
Likelihood to Recommend
As a Media Planner, I receive a lot of invoices monthly from a lot of different vendors. AvidExchange helps me submit my invoices to accounting and allows me to put in notes to customize my payments.
We recommend AvidXchange to organizations of all sizes. This product helps the finance team improve the Accounts Payable process. We have seen organizations simplify the payment process by adopting this solution. These organizations streamline the entire bill pay process with document management and can even process the payment. I have seen this solution save 10-20 hours per month.
Pros
Streamline AP Processes
Paperless Invoice Processing
Bill Payment Automation
Integration with Financial Edge NXT
Cons
Search for previous invoices could be easier
Likelihood to Recommend
AvidXchange is great for organizations that have need for automation. This is a time saving solution. This solution helps organizations: procure items, create purchase orders, route invoices, save documents, and process payments. This is a great solution for anyone who is looking to cut down on the hours involved in the accounts payable process.
Our mid-size independent marketing agency uses AvidXchange to track invoices and route them internally for approval. Invoices and purchase orders are processed internally via AvidXchange.
Pros
Tracks invoice history
Easy to route
Converts invoices to electronic versions
Cons
Cost
Levels of approving parties
Training for new users
Likelihood to Recommend
AvidXchange works well in our integrated environment where different service stakeholders have a line of sight on projects and vendor payments that require approval across internal segments.
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 manage all employees' accountability on what invoices are being paid compared to the work that is being done at one of our corporate campuses or commercial properties. It has helped organize invoices by property and has helped us pay each invoice correctly by entity.
Pros
Great organizational tool.
Able to pay invoices right from the site.
Has a wide variety of reports that can be utilized.
Cons
Setting up users and new entities.
A training on reports and which are the best to use.
Likelihood to Recommend
AvidXchange can be used in all situations where an organization needs to pay a wide variety of invoices and needs its employees to sign in and approve what should be paid. There is no situation where an employee shouldn't go in to look at invoices or work that was ordered and needs review before payment.
We currently utilize AvidXchange for the processing and payment of invoices for all of our managed properties as well as our company entity. AvidXchange is utilized by 80% of the employees at our company, mostly through the approval workflow function. It has helped tremendously in the automation of our AP process.
Pros
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.
Cons
AvidPay needs some improvement to minimize the amount of time it takes to issue payment for invoices
The search features within AvidXchange on the advanced search screen sometimes do not function correctly (sorting by ascending / descending order doesn't work all of the time).
The log enhancement follow-up procedure could use some work.
Likelihood to Recommend
Companies struggling through a manual AP process with a high volume of invoices received every month should consider AvidXchange. They would benefit by freeing up the time and effort of accounting employees, who may then have the time to focus on other duties. Companies with minimal invoices wouldn't be a good fit. The system works best with high invoice volumes.
