12 BEST AvidXchange Alternatives & Competitors in 2024

Review and compare the top AvidXchange Alternatives & Competitors with features and pricing to select the best AvidXchange Competitor as per your requirements:

AvidXchange is undoubtedly one of the finest AP automation solutions being widely used today. The software’s digital application suite serves as the perfect alternative to manual accounts payable management. It is widely hailed for being great at automating the entire AP and payment process. In fact, it can automate all crucial aspects of the AP process.

This includes document management, invoice approvals, data entry, etc. Ever since its inception, AvidXchange has catered to both small start-ups and large enterprises. Many prominent businesses today even attribute their success to this AP automation software. That being said, AvidXchange isn’t perfect.

AvidXchange Alternatives & Competitors

Like every other software out there, it too has its fair share of glaring flaws. While some users have complained about its PO capabilities, others have made their disappointment with its 1099/W9 functionality crystal clear. AvidXchange, despite its many impressive features, isn’t going to satisfy everyone.

Fortunately, AvidXchange isn’t the only software out there that can digitally transform your entire AP process.

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In this article, we will shed light on top tools that are either equally great or better than AvidXchange with regard to AP Automation and Invoice Processing.

Frequently Asked Questions

Q #1) Is AvidXchange Legitimate?

Answer: Yes, AvidXchange is a legitimately good AP automation solution. In fact, the software is considered an industry leader when it comes to invoice and payment process automation. The company currently has more than 1500 individuals on its payroll and serves more than 6000 customers all across North America.

Q #2) What is AvidXchange used for?

Answer: As mentioned before, AvidXchange is known for its AP and invoice processing automation features. The major USP is the fact that it helps you do away with the entire hassle of processing payments and invoices manually.

The software can automate every aspect of an organization’s AP and invoice process, regardless of how small or large the operation is.

Q #3) Who are AvidXchange competitors?

Answer: AvidXchange isn’t the only software out there that offers phenomenal AP automation services. There are at least 12 other software solutions out there that do an equally good job of automating the otherwise tedious payment and invoice management process.

Some of my personal favorite AvidXchange competitors are as follows:

• PairSoft
• PaperSave
• Stampli
• Tipalti
• KwikTag

Q #4) What is AvidPay?

Answer: AvidPay is a payment software offered by AvidXchange. It can be used to make bill payments electronically. Currently, the AvidPay network boasts more than 825,000 suppliers. The software works great in tandem with AvidXchange’s payment automation software.

Q #5) Is AvidXchange a Fintech?

Answer: Yes, AvidXchange is in fact considered one of the best B2B Fintech companies in North America. This accolade can be attributed to its AP automation solution that assures benefits to the small, medium, and large enterprises it caters to.

For instance, the software is known to:

• Improve supplier and vendor relationships
• Reduce invoice processing costs
• Reduce financial security risk
• Help the finance team work remotely with 24/7 online access
• Create custom workflows for data accuracy.

List of the Best AvidXchange Competitors

Here is a popular list of AvidXchange Alternatives:

1. PairSoft
2. PaperSave
3. DOKKA
4. Stampli
5. Tipalti
6. KwikTag
7. MetaViewer
8. PN3
9. Docuware
10. MineralTree
11. Altec Doc Link
12. Paymerang
13. DocStar

Comparing Some of the Top AvidXchange Alternatives

Best AvidXchange Alternatives & Competitors

#1) PairSoft

Best for PO customization and customizable approvals.

There are several aspects of PairSoft that put it way above AvidXchange with respect to its AP functionality. For starters, the software offers its users more than 10 payment methods along with international exchange functionality. PairSoft also makes the process of payment hassle-free through seamless integrations with ERPs like Microsoft Dynamics GP and BP.

The software also surpasses AvidXchange with the quality of data analysis it presents. You get a 360-degree view of your data. You basically get complete visibility and control over your entire AP process with PairSoft by your side.

With the added benefit of automated data retrieval and capture, the software also serves as a great antidote to human-based errors in AP processing.

Features:

• Document Management
• P2P Process Automation
• Analytical Reporting
• Instant Electronic Payments

Pros:

• Seamless ERP integration
• Mobile App
• Two-Way Vendor Management
• PO customization

Cons:

• Nothing significant

Verdict: PairSoft is a fantastic AP automation software that easily makes up for the shortcomings of AvidXchange. It facilitates currency conversions and PO customization and allows you to customize the approval process considerably. As such, PairSoft has my highest recommendation.

Price: Contact for a quote.

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#2) PaperSave

Best for efficient Document Management.

PaperSave does a lot of things better than AvidXchange. The thing that impressed me the most was its automatic invoice data extraction capabilities. Powered by an intelligent OCR system, the software can accurately capture data from all types of documents.

The software can automatically index information contained in the documents it processes. Another admirable thing about PaperSave is its search functionality. Whatever documents or information you wish to retrieve, PaperSave will be presented to you in no time.

The software also goes above and beyond to keep your data secure. You can assign user-based roles and permissions to make sure only authorized individuals have access to data securely stored in PaperSave’s repository.

Features:

• Intelligent OCR
• Automated Document Capture
• Streamlining of Approvals Process
• Easy Auditing

Pros:

• Supports all document formats
• Easy data extraction
• Integrates with most existing ERP and CRM systems
• Enables electronic workflows

Cons:

• Nothing significant

Verdict: PaperSave allows you to streamline your workflows with the help of electronic workflows. It excels in the automatic data extraction and process auditing department. Like PairSoft, PaperSave is one of the best AvidXchange competitors out there.

Price: Contact for a quote.

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#3) DOKKA

DOKKA surpasses AvidXchange in several crucial areas. Its standout feature is automatic invoice data extraction, driven by advanced AI technology. DOKKA automatically indexes documents, streamlining data management and enabling swift retrieval. Its search functionality, highly intuitive and rapid, ensures quick access to specific documents or data.

DOKKA places a strong emphasis on data security. You can assign user-based roles and permissions, ensuring authorized access to securely stored data. This robust security framework is essential for protecting sensitive financial information and complying with data privacy regulations.

In summary, DOKKA excels in data extraction, search capabilities, and data security, making it the preferred choice for efficient accounts payable automation.

Features:

• AI-Powered Invoice Processing
• Virtual Desk
• Automated Approval Flows
• Google-Like search functionality
• Go live in days

Pros:

• 7 second invoice processing
• Directly integrated with top accounting systems
• Usage-based Pricing
• No lock-in contract, pay as you go

Cons:

• Nothing of significance

Verdict: DOKKA offers a robust, all-encompassing, and teamwork-oriented solution that’s a perfect fit for your entire accounts payable team, no matter their skill level. It effortlessly integrates with your entire accounting system and significantly accelerates your accounts payable procedures.

Price: Schedule a free 30-minute demo through the link below and the team at DOKKA will be able to provide you a quote.

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#4) Stampli

Best for AI-based document capturing and AP processing.

Stampli comes pre-equipped with OCR, ML, and AI technologies that power its functionality. It leverages these advanced technologies to accurately read your organization’s accounting process in a bid to facilitate smooth approval routing. It also comes with a built-in AP bot that can capture invoice data in real-time.

Stampli also makes sure you and your team members have easy access to the required information. All it takes is a single button click and you’ll have access to all the information you need. Stampli also natively integrates with most ERP tools like Oracle, QuickBooks, and Microsoft Dynamics to streamline the AP, payment, and invoice process.

Features:

• Native ERP integration
• Document capture
• Smart Coding
• Centralized communications hub

Pros:

• Real-time invoice processing
• User-friendly interface
• Audit ready access

Cons:

• Lacks PO customization capabilities

Verdict: Stampli is considered a leading AP automation solution today. The software is powered by superior AI, ML, and OCR technologies. You can streamline your entire AP process with real-time invoicing, smart data capture, and native ERP integration support.

Price: Contact for a quote.

Website: Stampli

Further Reading => List of the TOP Stampli Competitors in the Market

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#5) Tipalti

Best for high scalability.

Tipalti had me floored by its scalable nature. The software’s AP automation capabilities were purpose-built to meet the requirements of an ever-evolving business. The software facilitates automated invoice processing with the help of advanced machine learning, PO matching, and advanced approvals.

As any good AP automation software should, Tipalti also offers its users different payment methods to make instant payments and improve their relationships with vendors, suppliers, and clients. The software also helps you comply with regulatory standards across the globe, thus allowing you to make payments to multiple partners across the globe.

Features:

• Supplier Management
• Automated Invoice Processing
• Payment Reconciliation
• Purchase Order Matching

Pros:

• Rapid scaling
• Financial close acceleration
• Real-time insight into company expenses.

Cons:

• Reconciliation reports can be hard to comprehend.

Verdict: Tipalti makes it to the list for one key reason – its scalability. Besides this, the software tick marks all the parameters necessary for it to qualify as one of the best alternatives to AvidXchange. It is easy to set up and good at automating the invoice process.

Price: Contact for a quote.

Website: Tipalti

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#6) KwikTag

Best for powerful OCR.

KwikTag is another great AvidXchange competitor that’s quite famous in industry circles for its in-built OCR. This OCR technology efficiently eliminates all manual data entry and the risks associated with it. What you get in return is an automated invoice processing system with little to no errors.

Besides invoice automation, the software also grants you complete visibility and control over your AP processes from start to finish. With this software by your side, you can rest assured of making payments while complying with the necessary regulatory requirements.

Features:

• AP Automation for Microsoft GP and BC
• Advanced OCR
• Document Management
• Invoice Process Automation

Pros:

• Automatically create invoice transactions in Microsoft dynamics.
• Easily meet compliance standards.
• Automatic feature updates.

Cons:

• Lack of customization features.

Verdict: KwikTag, with its advanced OCR and ability to create invoices for Microsoft Dynamics, considerably streamlines and increases the productivity of your AP processes. The software can help you reduce costs associated with invoice processing by up to 80%.

Price: Contact for Quote

Website: KwikTag

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#7) MetaViewer

Best for Robotic Process Automation.

MetaViewer has widely been lauded as one of the finest AP automation and document management tools out there. The software, once deployed, gives you greater control over your entire financial processes.

The software leverages robotic process automation technology to offer users the benefits of touchless invoice processing, intelligent OCR recognition, and workflow automation.

Besides complete control, the software also grants users complete visibility into their financial processes. Get real-time insights into your invoices, finances, etc. You can use this information to make data-driven decisions that work well to improve the process of spend management.

Features:

• AP Automation
• Payment Automation
• Document Management
• Instant data access and retrieval

Pros:

• End-to-end payment automation
• Seamless ERP integration
• Two and three-way PO matching

Cons:

• Issues with reports have been reported frequently by users.

Verdict: MetaViewer’s AP automation/document management software was purpose-built to cater to the needs of most modern businesses. It makes it to the list because of the advanced RPA it leverages to facilitate instant invoice processing and workflow management.

Price: Contact for Quote

Website: MetaViewer

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#8) PN3

Best for Agile AP digital transformation.

PN3 is known for its excellent usability and AP-centric functionality. The software does what all good AP automation tools do, and in many ways, does it phenomenally well. However, where it truly excels is in the rapid automation department.

The software, once launched, can rapidly transform all crucial aspects of AP processing. These processes include everything from invoice creation and approval routing to eventual reconciliation.

Features:

• Credit Card reconciliation
• Real-time alerts
• Vendor Invoice Management
• Payment Request Facilitation

Pros:

• Paperless coding
• Supports both PO and non-PO invoicing
• Electronic payment requests

Cons:

• Customer support is not that responsive.

Verdict: If rapid AP automation and digitization are what you seek, then you’ll find a lot to admire in PN3. The platform is easy to set up and implement. As such, it is one of, if not the best AvidXchange competitors being widely used today.

Price: Contact for a quote.

Website: PN3

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#9) DocuWare

Best for automated invoice processing.

DocuWare is another leading document management solution that quickly proves its mettle with impressive automated invoice processing capabilities. The software creates digital invoices with the help of intelligent indexing. These invoices are then stored in a secure repository, from where they can be retrieved easily.

The software helps you keep your entire finance team on the same page with an excellent approval routing feature. DocuWare also allows you to expedite the payment process with the help of pre-configured workflows.

Features:

• Enterprise Content Management
• Workflow Management
• Document Management
• Process Incoming Invoices

Pros:

• Outlook and Oracle integration
• Expedite the payment process
• Seamless automation

Cons:

• Need better documentation

Verdict: DocuWare expedites your entire payment and invoice process. The software serves as the perfect alternative to manual-based data entry. From workflow automation to cut down on audit prep time, the software has a lot to offer users with regard to its AP automation capabilities.

Price: Contact for Quote

Website: DocuWare

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#10) MineralTree

Best for fast invoice processing and simplified reconciliation.

With MineralTree, your team gets a centralized AP platform that can be used anywhere, anytime, on any device. The software grants you complete visibility across business units, locations, and user roles. The software also presents you with real-time analytics, with the help of which your finance staff can make rational decisions to curb expenses.

The software also considerably simplifies the reconciliation process. With MineralTree by your side, all you have to do is reconcile just once per payment. This allows you to close books at a much faster pace. Moreover, MineralTree also works great at processing invoices faster with amazing automation.

Features:

• Real-Time Analytics
• Invoice Processing Automation
• E-Payment Facilitation
• Offloading Management

Pros:

• Helps you with a clean audit trail.
• Improves supplier experience with streamlined payments.
• Reduce costs by leveraging MineralTree’s supplier network.

Cons:

• The learning curve was involved initially.

Verdict: MineralTree is another AP automation solution that impressed me with its features and automation capabilities. While there is a learning curve, users can get over it after some time with the tool. Overall, MineralTree is easy-to-use, feature-rich, and reasonably priced to earn a place on my list.

Price: Contact for a quote.

Website: MineralTree

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#11) Altec DocLink

Best for advanced OCR.

Altec’s DocLink leverages advanced OCR to capture data automatically from the ERP systems that currently power your organization’s financial processes. This is perhaps what makes it such a good alternative to AvidXchange. It is quite effective in eliminating manual efforts in data entry and the errors that come with it.

DocLink also offers impeccable security features. For instance, you can define user roles and permissions. This way only authorized individuals will have easy access to documents whenever needed. Its search functionality is also quite impressive. Any document you are looking for can be retrieved with a simple search query.

Features:

• Team Collaboration tools
• Document Capture
• Seamless ERP integration
• Self-Service Document Access

Pros:

• Eliminates approval delays
• Simple user roles and permission settings
• Intelligent OCR

Cons:

• Not as feature-rich as I’d expected

Verdict: Altec’s DocLink can integrate seamlessly with most ERP tools out there. This allows it to capture data stored in these tools to make better decisions with regard to invoicing and spend management.

Price: Contact for Quote

Website: Altec DocLink

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#12) Paymerang

Best for AI-based Automation.

Paymerang comes pre-equipped with AI and ML technology, which it uses to both expedite and streamline the entire AP process. Right from payment delivery to reconciliation, the software’s capable of simplifying the payment process from beginning to end.

The software is also a personal favorite of many vendors who use it to streamline the cash and bill application process.

Features:

• Finance Automation
• Payment Automation
• Accounts receivables
• E-Routing

Verdict: Paymerang made it to the list for its use of AI and ML technology. These technologies make it a great alternative to AvidXchange, especially when it comes to the automation of payment, AP, and finance processes.

Price: Contact for a quote.

Website: Paymerang

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#13) DocStar

Best for 360-degree visibility.

DocStar is an AP automation software that grants your AP team complete control and visibility over their entire payment process. It can integrate seamlessly with most ERP, HR, and accounting systems out there, thus greatly maximizing the efficiency of AP processes.

The software’s data capture and intelligent workflow automation alone make DocStar worth the subscription fee being charged.

Features:

• 2 and 3-Way matching
• Data Capture
• Flexible Workflow Automation
• Smooth ERP integration

Verdict: DocStar is an AP automation software designed to make the job of your AP team easier. It is easy to use and gives you a complete 360-degree view of your AP processes.

Price: Contact for a quote.

Website: DocStar

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Conclusion

AvidXchange is a good AP automation software with many impressive features to boast. Once deployed, the software is quite effective at boosting the security, accuracy, and speed of your organization’s payment and invoice processing.

That being said, AvidXchange isn’t perfect. While it can cater to some organizations’ needs, there are others that have had a disappointing experience with the tool.

The above list proves that there are many great tools that can do equally well or a better job of automating AP processes than AvidXchange. We recommend the above tools because each of them does a pretty good job of streamlining the critical aspects associated with the invoice and payment process.

As for recommendations, we suggest going with PairSoft or PaperSave as both of them are reasonably priced, user-friendly, and come packed with superior AP automation capabilities.

Research Process:

• We spent 15 hours researching and writing this article so you can have summarized and insightful information on which AvidXchange Competitors will best suit you.
• Total AvidXchange Competitors Researched: 35
• Total AvidXchange Competitors Shortlisted: 12