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AvidXchange Review: Pros, Cons, Features, and Pricing

AvidXchange is an accounts payable software simplifying payment processing and invoice processing for finance teams. It's ideal for midsize companies in real estate, construction, and financial services, helping them streamline AP operations and enhance overall workflow efficiency. AvidXchange simplifies AP processes with strong functionality, ERP integrations, and AI-driven insights that help users eliminate paper checks and late fees.

AvidXchange tackles invoice errors, manual routing, and processing delays for finance teams managing multiple vendors and purchase orders. In this article, I'll cover AvidXchange's features, pros and cons, use cases, pricing, and more, so you can decide if this software aligns with your accounts payable automation needs and financial goals.

AvidXchange Evaluation Summary

Cloud AP software automating bill capture, workflows & payments.
Rating
4.4 /5
Pricing
  • Pricing upon request
  • Free demo available

Why Trust Our Software Reviews

AvidXchange Overview

In my opinion, AvidXchange is a solid choice for midsize businesses needing reliable AP automation and invoice capture. It offers strong integration with major ERP and accounting software such as NetSuite, QuickBooks, and Microsoft, along with AI-driven insights that improve your team's workflow and approval processes. However, the onboarding and customer support could be more responsive, and the pricing may feel steep for smaller teams. Compared to other providers, AvidXchange excels in automation and electronic payments but can lag in ease of use and user experience. It’s best suited for industries like real estate and construction, where complex vendor payments and multi-step approval workflows are common. If your company values a robust automation tool with high functionality, AvidXchange offers an effective, time-saving platform.

How We Test & Score Tools

We’ve spent years building, refining, and improving our software testing and scoring system. The rubric is designed to capture the nuances of software selection and what makes a tool effective, focusing on critical aspects of the decision-making process.

Below, you can see exactly how our testing and scoring works across seven criteria. It allows us to provide an unbiased evaluation of the software based on core functionality, standout features, ease of use, onboarding, customer support, integrations, customer reviews, and value for money.

Core Functionality (25% of final scoring)

The starting point of our evaluation is always the core functionality of the tool. Does it have the basic features and functions that a user would expect to see? Are any of those core features locked to higher-tiered pricing plans? At its core, we expect a tool to stand up against the baseline capabilities of its competitors.

Standout Features (25% of final scoring)

Next, we evaluate uncommon standout features that go above and beyond the core functionality typically found in tools of its kind. A high score reflects specialized or unique features that make the product faster, more efficient, or offer additional value to the user.

We also evaluate how easy it is to integrate with other tools typically found in the tech stack to expand the functionality and utility of the software. Tools offering plentiful native integrations, 3rd party connections, and API access to build custom integrations score best.

Ease of Use (10% of final scoring)

We consider how quick and easy it is to execute the tasks defined in the core functionality using the tool. High scoring software is well designed, intuitive to use, offers mobile apps, provides templates, and makes relatively complex tasks seem simple.

Onboarding (10% of final scoring)

We know how important rapid team adoption is for a new platform, so we evaluate how easy it is to learn and use a tool with minimal training. We evaluate how quickly a team member can get set up and start using the tool with no experience. High scoring solutions indicate little or no support is required.

Customer Support (10% of final scoring)

We review how quick and easy it is to get unstuck and find help by phone, live chat, or knowledge base. Tools and companies that provide real-time support score best, while chatbots score worst.

Customer Reviews (10% of final scoring)

Beyond our own testing and evaluation, we consider the net promoter score from current and past customers. We review their likelihood, given the option, to choose the tool again for the core functionality. A high scoring software reflects a high net promoter score from current or past customers.

Value for Money (10% of final scoring)

Lastly, in consideration of all the other criteria, we review the average price of entry level plans against the core features and consider the value of the other evaluation criteria. Software that delivers more, for less, will score higher.

Core Features

Invoice Automation

AvidXchange automates the full invoice processing cycle, allowing teams to process invoices faster, reducing manual entry errors, and improving visibility through its dashboard.

Payment Processing

It supports multiple payment options, including ACH, direct deposit, and credit card, minimizing the need for paper checks and avoiding late fees.

Approval Workflow

Create tailored approval workflows with automatic notifications, enabling compliance and speeding up the approval process for invoices and vendor payments.

Audit Trail

AvidXchange provides a comprehensive audit trail for every transaction, helping teams verify payment status and maintain transparency.

Document Management

Store, track, and route invoices digitally, integrating seamlessly with leading ERP and accounting systems.

Reporting and Analytics

Get advanced reporting on AP processes, vendor activity, and payment status to optimize workflow efficiency.

Ease of Use

AvidXchange offers broad functionality, though some user reviews note that the user interface can feel dated. The learning curve can be steep initially, especially for AvidXchange customers without ERP experience. Once familiar, however, users find it a major time saver that enhances visibility across all AP processes.

Integrations

AvidXchange integrates with Oracle NetSuite, Intuit QuickBooks, Microsoft, Sage, Acumatica, Blackbaud, MIP Fund Accounting, MRI, Rent Manager, and Yardi. AvidXchange also offers extensive API support, allowing for custom integrations with various accounting systems.

AvidXchange Specs

  • 2-Factor Authentication
  • Accounts Receivable
  • API
  • Balance Sheet
  • Billing/Invoicing
  • BitCoin
  • Budgeting
  • Calendar Management
  • Contact Management
  • CRM Integration
  • Customer Management
  • Dashboard
  • Data Export
  • Data Import
  • Data Visualization
  • Expense Tracking
  • External Integrations
  • Forecasting
  • Inventory Tracking
  • Multi-Currency
  • Multi-User
  • Notifications
  • P&L
  • Payment Gateway Integration
  • Payment Processor
  • PayPal
  • Payroll
  • SAP Integration
  • Scheduling
  • Stripe
  • Supplier Management
  • Tax Management

AvidXchange FAQs

Bradley Clifford
By Bradley Clifford

I have 15+ years of experience helping growth-stage companies build finance infrastructure, forecasting tools, and decision-support frameworks. I'm VP of Finance at Black & White Zebra, and previously Senior Director of Finance at Rewind, where I helped cut cash burn from $11M to $2M. I also spent 6 years at Stack Overflow, supporting growth from $20M to $100M through its $1.8B acquisition. I hold an FCCA designation and an MSc in Professional Accountancy.