Top 6 AvidXchange competitors

Charlotte, North Carolina-based AvidXchange is a cloud-based finance automation platform that serves over 8,000 customers. Their platform automates the accounts payable workflow for mid-market companies.

The company’s mission is to transform the way middle-market businesses receive, manage, and pay their bills. They bundle software and services into AP solutions tailored for various industries, such as real estate, banks, and construction. They also offer specialized modules for AP and accounting tasks such as utility cost management, purchase order management, and spend analytics. 

AvidXchange offers a combination of software and services to provide an AP automation solution that may suit your needs. However, there are many alternative solutions if you’re looking for a more customer-friendly AP platform that doesn’t require any rework to your ERP, financial system, or accounting software. In this article, we’ll look at 6 AvidXchange alternatives and competitors you might want to explore.

1. Stampli

Stampli is ideal for AP departments who want to implement AP automation without changing their ERP workflows or AP processes. Stampli is the only solution pointedly designed for Accounts Payable. It uses artificial intelligence (AI) and machine learning to learn your company’s AP processes and patterns and automate and streamline your workflows. 

With Stampli, finance teams gain complete control over every step of the P2P process, simplifying tasks like touchless invoice processing, GL coding, invoice verification, approval routing, and payment processing. Its powerful and flexible solution helps businesses improve cash flow management and turn Accounts Payable into a powerful strategic driver.

An industry leader, Stampli has been awarded for customer service, corporate citizenship, and excellence, including: 

• No. 2 in the G2 list of Best Accounting and Finance Products for 2023.
• Recognized By Forbes As One Of America’s Best Startup Employers Of 2023
• Best Accounts Payable Automation Solution, 2022 Fintech Awards.

Key features

• Seamless pre-built integration with more than 70 ERPs and accounting systems facilitates real-time data sharing.
• Supports customized approval routing and multiple approvers.
• Stampli Insights provides real-time AP performance and financial data and analytics for improved visibility and control.
• Manages complex invoice approval workflows (multi-location, multi-category, and multi-subsidiary).
• International payments in USD or local currency to suppliers in over 150+ countries with integrated FX management tools.

Advantages

Smartest AI

Stampli’s AI assistant, Billy the Bot™, learns your AP processes and reduces tedious manual tasks with to assist across the entire invoice lifecycle including invoice capture, coding, matching, approvals, and fraud detection.

Time-to-value

Stampli provides quick implementation with live setup assistance and 24/7 customer support from AP and ERP experts. Implementations can be completed in days without any changes to your existing workflows or IT infrastructure.

Customer satisfaction

Stampli is an industry leader in Accounts Payable automation and consistently receives top scores in the G2 Grid® for AP Automation software.

Enhanced services beyond Accounts Payable

Stampli complements its AP automation solution with a suite of services that add enhanced functionality. These include virtual and physical card programs (Stampli Card), domestic and international payment solutions (Stampli Direct Pay), and employee expense management (Stampli Expenses).

Most control

Stampli centralizes all communications, documents, and tasks on top of the invoice for more control over AP processes.

Pricing

Stampli offers simple monthly or annual pricing with unlimited users, vendors, and training.

Bottom line

Stampli is the perfect choice for small, mid-sized, and enterprise companies looking for a powerful and user-friendly AP solution that doesn’t require you to reconfigure your ERP. It offers exceptional customer service, automation capabilities, industry expertise, seamless integration with business systems, and transparent pricing – making it the #1 best alternative to AvidXchange for AP automation.

2. BILL (formerly bill.com)

BILL provides core accounting solutions to small and medium-sized businesses. It features payment automation solutions, accounts payable, billing and invoicing, accounts receivable, and cash management. BILL’s mission is to make paper-based manual processes obsolete by automating the entire payment process and transforming how business owners manage their cash inflows and outflows.

Key features

BILL offers four service tiers with different accounting features. The tiers are Essentials, Team, Corporate, and Enterprise.

Essentials

• Choice of accounts receivable or accounts payable automation.
• Basic AP automation processes like invoice scanning, vendor data management, and vendor payments.
• Non-customizable user roles and approval process.
• Manual (CSV) accounting integrations with QuickBooks Online, QuickBooks Pro, QuickBooks Premier, and Xero.
• Document management solutions.

Team

Everything in the Essentials tier, plus:

• Custom user roles.
• Automated two-way sync with QuickBooks Online, QuickBooks Pro, QuickBooks Premier, and Xero for AP or AR.

Corporate

Everything in the Team tier, plus:

• Accounts payable and accounts receivable automation services.
• Custom approval processes.
• Automated two-way sync with QuickBooks Online, QuickBooks Pro, QuickBooks Premier, and Xero for AP and AR.

Enterprise

Everything in the Corporate tier, plus:

• Automatic AR and AP sync with Quickbooks Enterprise and Oracle NetSuite, Sage Intacct, and Microsoft Dynamics ERPs.
• API access.
• Multi-entity and multi-location accounting.
• Priority customer support.

Advantages

Streamlined business processes

BILL helps businesses automate and streamline their core accounting tasks so they can focus on higher-value tasks. It also lets businesses pay vendors faster through payment methods like credit cards and ACH.

Manage business spend

If they subscribe to a higher-value tier, businesses can set up custom workflows, approval routing, use, roles, and permissions to enforce internal controls and manage expenditures more closely.

Pricing

BILL charges a per-month price based on service tier. It also charges per-transaction fees for payments made on the BILL platform.

Bottom line

BILL offers a user-friendly interface, flexible electronic payment methods, and scalable service options. It may be a good alternative to AvidXchange for small businesses looking for an affordable solution that can be adapted to meet their needs as they grow.

3. Tipalti

Tipalti is a cloud-based accounts payable software platform with a wide range of AP processing and global payments features. It’s designed to meet the needs of businesses wanting to streamline their financial processes. Tipalti offers a customizable end-to-end solution with a user-friendly interface, internal financial controls, tax compliance, fraud detection, and business payment capabilities.

Key features

• Automated invoice scanning and data entry, receipt and PO matching, payments, and reconciliation.
• Self-serve vendor portal for onboarding and communications.
• Fraud controls including automated enforcement of policies and internal controls, audit trail, error detection, and role-based security.
• PO requisition management to help companies control spending.
• Tax and regulatory compliance powered by a KPMG-approved tax engine.

Advantages

Simple user interface

Tipalti’s user interface is easy to use and provides access to documentation, workflows, transaction data, and historical accounting records.

Multi-entity support

Tipalti offers specific AP workflows for separate entities with the ability to present a high-level overview of AP performance across the entire family of companies.

Pricing

Tipalti charges a monthly fee for access to its basic platform. It charges additional fees for added modules, features, and advanced functionality.

Bottom line

Tipalti provides a solid AP automation and payment processing platform for businesses. It’s a good alternative to AvidXchange for mid-market and enterprise companies who want a customizable end-to-end AP automation solution. It features an intuitive user interface, comprehensive internal controls, and flexible payment processing functionality to help businesses increase their AP processing efficiency.

4. MineralTree

MineralTree is a centralized AP automation platform that can be used anywhere, anytime, and on any device. Owned by Global Payments, MineralTree provides accounting automation services to approximately 2,000 customers and 25 financial institutions. It helps companies streamline AP processing while increasing transaction visibility and control.

MineralTree’s software is designed around four key functions: invoice capture, invoice approval, payment authorization, and payment completion. Its service offering consists of automation tools that simplify and streamline each function.

Key features

• TotalAP: A suite of AP solutions, including invoice processing and verification, approval routing, and supplier payment automation.
• TotalPay: Invoice payment approval and automation.
• SilverPay: Virtual cards with a cashback program.
• Integrations: NetSuite, Microsoft Dynamics, QuickBooks, and others.

Advantages

Simplified payment reconciliation

MineralTree lets businesses reconcile payments once per payment run. Payments are reconciled as they’re processed so businesses can close their books faster at month-end and quarter-end.

Better transaction visibility

MineralTree provides real-time analytics to give customers complete visibility into AP data across business units, locations, and user roles. 

Pricing

MineralTree charges a per-invoice fee with two pricing tiers:

• Summary information: Vendor name, date, and amount.
• Line-level information: Summary information plus all line-level details.

Bottom line

MineralTree is an easy-to-use and feature-rich AP automation solution. It offers industry-specific AP solutions and integration with major ERPs and accounting systems. MineralTree’s volume-based pricing and flexible service offerings make it a compelling alternative to AvidXchange for small to mid-sized businesses who want a scalable AP solution. 

5. Quadient AP Automation (Beanworks)

Business process automation provider Quadient acquired Beanworks in 2021 and rebranded it as Quadient Accounts Payable by Beanworks. It leverages custom business rules to automate accounts payable workflows and manage routing purchase orders, invoices, and payment approvals for improved efficiency. 

Quadient Accounts Payable offers four functional modules: Invoice Process Automation, Expenses, Payments, and Purchase Orders. Customers choose the combination of modules that suit their AP automation needs. 

Key features

• Manage purchase orders, invoices, payments, and expenses in a central system.
• GL smart coding feature codes invoices with one click.
• Approve invoices from anywhere through the Quadient AP mobile app.
• Create and process purchase orders within the Quadient AP platform.
• Support for multi-company and multi-location AP processes.

Advantages

Mobile-friendly approvals

Quadient Accounts Payable allows customers to review and approve invoices on Android and iOS devices.

Good user interface

Customer reviews for Quadient Accounts Payable suggest that the platform contains several user-friendly features such as global search, customizable views, vacation mode, and customizable user roles.

Pricing

Quadient offers custom pricing for Quadient Accounts Payable. Customers can choose one or more of the four modules (Invoice Process Automation, Expenses, Payments, and Purchase Orders) or opt for a custom solution.

Bottom line

Quadient Accounts Payable by Beanworks is a solid AP automation solution with a standard set of features. It’s a suitable alternative to AvidXchange for medium- and enterprise-sized businesses needing an end-to-end AP solution.

6. Airbase

Airbase is a procure-to-pay solution that simplifies business and finance processes, manages expenditures, and helps control risk. It includes a user-friendly interface, comprehensive spend management capabilities, a corporate card program, and customizable service offerings.

Airbase offers three service packages consisting of various module combinations and features. Its key components include Guided Procurement, Accounts Payable, Expense Management, and Corporate Cards, with core AP automation features. Its cloud-based spend management platform is designed for medium and enterprise-sized businesses that want to centralize and manage their expenditures and processes. 

Key features

• OCR invoice scanning to extract vendor information, invoice details, and other information.
• Customized approval rules and routing for expenses and AP expenditures.
• A centralized dashboard for credit card management, accounts payable processing, and spend management.
• Supplier payment management including multiple approval routing and scheduling and tracking payments.

Advantages

Flexible customer support

Airbase offers email and online chat customer support, a knowledge base, and online training.

Corporate card spend management

Airbase’s roots are in corporate credit card management. They offer rewards programs, detailed expenditure reports, and a flexible card management platform.

Pricing

Airbase offers three service packages. Pricing for each tier is customized according to customers’ needs. Certain features and modules are only available at higher-priced tiers.

Standard

Basic access to modules and special features for small and medium businesses (less than 200 employees).

Premium

Enhanced access to modules and greater functionality for medium-sized businesses (up to 500 employees).

Enterprise

Access to all modules and Airbase’s complete suite of features for enterprise businesses (up to 5,000 employees).

Bottom line

Airbase’s user-friendly interface, automated spend management capabilities, and flexible corporate credit card program make it a strong alternative to AvidXchange. It’s a great choice for growing mid-sized companies that want to centralize employee expenses, accounts payable, card management, and procurement functions on a single platform. 

Do you need an alternative to AvidXchange Accounts Payable automation?

While AvidXchange offers a great solution for streamlining financial processes, several alternative solutions may be a better fit for your business:

• Stampli is the leading built-for-AP solution with a strong track record of customer satisfaction.
• BILL provides a cost-effective accounting and basic AP automation solution for growing small businesses.
• Tipalti excels at global payables automation and is good for processing invoices, streamlining workloads, and scaling companies internationally.
• MineralTree is an easy-to-use and scalable AP automation solution with flexible service plans.
• Quadient Accounts Payable by Beanworks is a powerful and flexible solution with available accounts receivable and business process features.
• Airbase focuses on spending management, automating AP, expense management, and corporate cards to enhance financial control and efficiency.

These AvidXchange competitors all offer powerful and flexible solutions for businesses seeking alternatives to AvidXchange software to optimize their financial workflows.

Competitor Pricing

Pricing is a major part of deciding which AP automation solution fits your business best. Most providers don’t publish their pricing or only publish prices for certain products or components without disclosing the full cost of their solution.

When you’re considering an AP automation solution, ask for details about their pricing, including how the pricing is applied (per month/user/invoice), the length of the contract (monthly vs yearly), how many users, locations, or entities are included, what services are included, and what fees they charge for additional services. 

Stampli: Automate AP without disrupting your ERP

Stampli is an all-in-one solution for everything related to AP. Bid farewell to workarounds, spreadsheets, and manual data entry. Stampli’s efficient AI-powered solution for AP automation enhances existing processes without changing workflows or extra IT work. 

Stampli comes with a user-friendly interface that centralizes communication, documentation, and workflows. It also provides automation features like Billy the Bot™ that streamline manual efforts and provide visibility and control. With Stampli, you can easily manage your AP processes in one place.

Stampli`s versatile suite of integrated products and compatibility with over 70 ERPs makes for swift deployment, helping organizations like the San Bernardino County Employees’ Retirement Association (SBCERA) migrate to a new ERP without disrupting AP operations.

Let’s chat about how Stampli can optimize your invoice and payment management workflow and help you achieve cost savings. Contact us today for a free demo.