AvidXchange
AvidXchange provides automated accounts payable and payment solutions that help mid-market businesses digitize their entire invoice process and make secure electronic payments to their suppliers.
Payhawk
Payhawk is a comprehensive spend management platform that combines corporate cards, reimbursable expenses, and accounts payable into a single automated solution to help businesses control global spending and streamline accounting.
Quick Comparison
| Feature | AvidXchange | Payhawk |
|---|---|---|
| Website | avidxchange.com | payhawk.com |
| Pricing Model | Custom | Custom |
| Starting Price | Custom Pricing | Custom Pricing |
| FREE Trial | ✘ No free trial | ✘ No free trial |
| Free Plan | ✘ No free plan | ✘ No free plan |
| Product Demo | ✓ Request demo here | ✓ Request demo here |
| Deployment | ||
| Integrations | ||
| Target Users | ||
| Target Industries | ||
| Customer Count | 0 | 0 |
| Founded Year | 2000 | 2018 |
| Headquarters | Charlotte, USA | London, UK |
Overview
AvidXchange
AvidXchange helps you transform your manual accounts payable process into a fully automated digital workflow. You can eliminate paper invoices and manual data entry by using their intelligent OCR technology to capture invoice data automatically. The platform routes these invoices through your custom approval workflows, ensuring you maintain control and visibility over your spending from any device.
You can also streamline your outbound payments by choosing from multiple electronic options like virtual cards and ACH. The software integrates directly with your existing accounting system, so your financial data stays synchronized without manual reconciliation. It is specifically designed for mid-market companies looking to reduce processing costs and protect against payment fraud while maintaining strong supplier relationships.
Payhawk
Payhawk is an all-in-one finance platform that helps you manage company spending from a single dashboard. Instead of juggling multiple tools for credit cards, out-of-pocket reimbursements, and supplier invoices, you can centralize everything in one place. You can issue physical and virtual cards to your team with built-in spending limits and automated approval workflows that ensure every penny spent aligns with your company policy.
The platform automates the tedious parts of accounting by capturing receipts via a mobile app and extracting data instantly using OCR technology. It integrates directly with your existing ERP or accounting software, like NetSuite or Microsoft Dynamics, to sync transactions in real-time. This eliminates manual data entry and helps you close your monthly books much faster while maintaining full visibility over your global cash flow.
Overview
AvidXchange Features
- AvidInvoice Receive, track, and approve invoices electronically using intelligent data capture to eliminate manual entry and paper filing.
- AvidPay Execute secure electronic payments to your suppliers through a dedicated network of over 1.2 million enrolled vendors.
- Custom Approval Workflows Design automated routing rules that match your existing business hierarchy to ensure every invoice gets proper authorization.
- Purchase Order Matching Automatically pair your invoices with purchase orders to verify accuracy and prevent overpayment or duplicate billing.
- Supplier Services Let a dedicated team manage your supplier data and payment preferences so you don't have to.
- Real-time Reporting Access detailed financial insights and track your liabilities in real-time to make more informed cash management decisions.
Payhawk Features
- Smart Corporate Cards. Issue physical and virtual cards with custom spending limits and automated approval rules to control budgets in real-time.
- Automated Data Extraction. Snap a photo of any receipt and let the AI extract dates, amounts, and VAT automatically to eliminate manual entry.
- Global Accounts Payable. Manage and pay supplier invoices across multiple currencies and countries while maintaining a clear digital audit trail for every payment.
- Real-time ERP Sync. Connect your spending data directly to NetSuite, SAP, or Microsoft Dynamics with automated mapping for seamless month-end closing.
- Subscription Management. Track all your recurring software subscriptions in one view to identify duplicate seats and prevent unwanted renewals or overspending.
- Reimbursable Expenses. Let your employees submit out-of-pocket claims through the mobile app for quick approval and automated repayment via bank transfer.
Pricing Comparison
AvidXchange Pricing
Payhawk Pricing
Pros & Cons
AvidXchange
Pros
- Significant reduction in manual data entry time
- Seamless integration with popular accounting software
- Excellent visibility into invoice approval status
- Strong security features help prevent payment fraud
Cons
- Initial implementation and setup takes time
- Supplier enrollment process can be slow
- Customer support response times vary occasionally
Payhawk
Pros
- Excellent mobile app for quick receipt uploads
- Seamless integration with major ERP systems
- Real-time visibility into employee card spending
- Responsive customer support for technical setup
- User-friendly interface for non-finance employees
Cons
- Initial setup of accounting categories takes time
- Card delivery can be slow in some regions
- Higher price point than basic expense tools