AvidXchange

Batch Processing

Invoices can be processed as a batch, rather than manually for each invoice. Sometimes enables consolidation of invoices.

Compliance Management

Includes at minimum PCI, P2PE, and SOC compliances.

Self Service Portal

Enables a tier 0 point of contact for end users, shifting work away from service desk generalists and specialists.

Automated Workflow

Usual manual workflows (such as approvals, matching, and so on) are automated.

Content Repository

Database of content with an associated set of data management, ability to search, and access methods allowing application-independent access to the content.

Optical Character Recognition

Electronic conversion of documents into editable and searchable data.

Payments Scheduling

Schedule payments at predefined times.

Reconciliation

Functionality that ensures that two sets of records (usually the balances of two accounts) are in agreement.

Fraud Management

Includes identity theft protection, fraud alerts, payer authentication, and fraud investigations.

Payment Tracking

See an overview and track each stage of the payment process, alongside managing payment history.

Availability and Quality of Training

Effective and readily available training enables users to get the most out of the software you've chosen. Use this section to make sure your vendor's training programs and materials measure up.

Ease of Data Integration

Use this data to determine whether the product will cause headaches or make data integration easy.

Usability and Intuitiveness

End user learning curves cost the organization money. Pay attention to your end users' technical ability to determine how important UX is in your purchase.

Business Value Created

Software needs to create value for employees, customers, partners, and, ultimately, shareholders. This data expresses user satisfaction - or lack thereof - with the product's business value.

Ease of IT Administration

This data indicates whether IT personnel will be able to resolve issues and perform configurations efficiently and effectively.

Ease of Implementation

Successfully implementing new software is necessary to realize its full value and promote end user adoption. This data indicates whether or not the product is easy to implement.

Breadth of Features

Users prefer feature rich software that enables them to perform diverse series of tasks. This data expresses user satisfaction with the product's breadth of features.

Quality of Features

Feature quality is just as important as quantity. Use this data to determine if this product will do what you're purchasing it to do, easily, intuitively, reliably, and effectively.

Vendor Support

The importance of vendor support will vary for each organization depending on internal capabilities, but there will always be issues that only the vendor can resolve.

Ease of Customization

Don't get bogged down in a difficult customization; use this data to make sure you can easily achieve the functionality you need for your particular situation.

Product Strategy and Rate of Improvement

Vendors who don't stay on top of emerging needs and trends won't enable you to meet your business goals. Use this data to separate innovators from imposters.