AvidXchange is a financial technology company that offers solutions for businesses to manage their accounts payable process. While the platform provides several features for businesses, there are some disadvantages to using the platform. One of the most significant disadvantages is its high price point. The company charges a high monthly fee for its services, which can be prohibitive for small businesses or those with tight budgets.
Additionally, AvidXchange requires a minimum number of invoices per month in order to use the platform, which can also be a challenge for small businesses. Another downside is that it lacks some features that are offered by other accounts payable and account receivable platforms like Zil Money. For example, the former does not offer a mobile app, making it difficult to manage your account on the go. Nor does it offer accounts receivable management.
Zil Money is an excellent alternative to AvidXchange, not just as software for managing businesses’ accounts payable and accounts receivables. It is a cloud-based invoicing and payments platform that offers several features. It offers inexpensive ACH transfers, check printing, eCheck, and check mailing services, while its competitor does not. These differences between the two platforms make the former a more attractive option for businesses.
Zil Money is a better alternative because it charges much lower fees than its competitor. It saves your business a significant amount of money on each transaction, as it has significantly lower transaction fees when compared to its competitor. It offers faster payment processing times than its competitor. The latter can take up to 5 days to process a payment, while the former can do it as little as one day. This can be a critical difference when you’re trying to get paid quickly. Also, it lets users open accounts remotely from any part of the world.
Finally, Zil Money is a more secure platform as it uses cloud and AI to protect its customers. It also offers cross-platform support letting users access their account using any device like a laptop, tablet, or phone. Overall, it is a better option than its competitor for businesses. It is the superior choice with lower fees, faster payment processing times, and more robust security.