MakersHub vs AvidXchange Detailed comparison features, price

MakersHub

MakersHub offers an accounts payable solution focused on enhancing efficiency and accuracy by significantly reducing manual tasks. Leveraging its proprietary WiseVision technology, which combines advanced OCR with machine learning and large language models, the platform excels at instant and accurate data capture from any bill or receipt format, including detailed line items. This automation aims to eliminate manual data entry, potentially reducing the time spent on AP tasks by up to 90% and improving the reliability of financial records.

The platform provides a comprehensive workflow encompassing data capture, customizable approval and authorization processes, and seamless integration with accounting systems. It features a deep, 2-way synchronization with both QuickBooks Online and QuickBooks Desktop, automatically creating and mapping bill, payment, item, and vendor records to the correct Chart of Accounts. MakersHub also includes an embedded payment solution, MakersHub Pay, facilitating vendor payments via ACH, Check, or Wire transfer directly within the system, complete with necessary context and controls for streamlined reconciliation and enhanced visibility over the entire payables process.

AvidXchange

AvidXchange offers AI-enhanced accounts payable automation solutions designed for finance teams seeking to optimize their bill management, payment processing, and workflow approvals. By integrating seamlessly with existing ERPs and accounting systems, AvidXchange enables organizations to eliminate manual, paper-based processes, centralize oversight, and ensure secure, compliant transactions. Its platform connects businesses with an extensive supplier network, providing flexible and secure payment options tailored to various business needs.

With features like intelligent reporting, customizable workflow automation, full audit trails, and real-time visibility, AvidXchange empowers users to improve productivity and free employees from repetitive tasks. The solution also supports suppliers with fast and reliable payment services through its dedicated Supplier Hub, offering several payment methods and continuous support. Built on over two decades of expertise, AvidXchange is trusted for advancing AP functions while supporting hybrid and remote work environments.

Pricing

MakersHub Pricing

Free Trial

From $99

MakersHub offers Free Trial pricing with plans starting from $99 per month .

AvidXchange Pricing

Contact for Pricing

AvidXchange offers Contact for Pricing pricing .

Features

MakersHub

Smart Data Capture: Automatically extracts all data fields from bills and receipts, including line items, using proprietary WiseVision technology.
Approval & Authorization Flows: Enables creation of customizable approval workflows for bills and authorization flows for payments with notifications.
MakersHub Pay: Facilitates embedded vendor payments via ACH (Standard, Expedited, Same-day), Check, or Wire transfer.
QuickBooks 2-Way Sync: Provides deep integration with QuickBooks Online and Desktop, automating record creation and data synchronization.
Bills & Receipts Inbox: Offers a centralized repository for automatically forwarding and processing AP documents.
Auto-Mapping Rules: Allows configuration of rules for automatic coding to the Chart of Accounts and item/expense creation.
AP Collaboration Hub: Supports team collaboration with notes, document attachments, and notifications.
Powerful Search & Filters: Enables searching for bills using various criteria and operators.
Granular User Access: Allows setting flexible user permissions without requiring full QuickBooks access.

AvidXchange

AI-Enhanced Automation: Streamlines AP workflows to reduce processing time and improve accuracy.
Seamless Integrations: Connects with over 200 ERP and accounting systems for effortless adoption.
Customizable Workflows: Enables tailored approvals and processes for compliance and control.
Centralized Platform: Offers unified access to all AP activities, reports, and analytics.
Supplier Payment Hub: Provides suppliers with multiple payment options and real-time support.
Intelligent Reporting: Delivers actionable insights and visibility into spend and workflow status.
Full Audit Trail: Maintains a comprehensive record of all transactions for compliance.

Use Cases

MakersHub Use Cases

Automating accounts payable data entry for businesses.
Streamlining bill approval and payment authorization processes.
Managing vendor payments efficiently through multiple methods.
Integrating AP workflows seamlessly with QuickBooks Online and Desktop.
Reducing manual workload for accounting departments and bookkeepers.
Improving accuracy and visibility in accounts payable operations.
Centralizing AP documentation and team collaboration.

AvidXchange Use Cases

Automating invoice processing to eliminate manual data entry.
Streamlining payment approvals and reducing turnaround times.
Enhancing compliance and auditability in financial workflows.
Supporting hybrid and remote finance teams with centralized access.
Improving supplier relationships through faster, secure payments.
Integrating AP automation into existing ERP systems without major IT changes.

FAQs

MakersHub FAQs

How does MakersHub capture bill line items accurately?

MakersHub uses proprietary Smart Data Reader technology, combining OCR with machine learning and large language models. It identifies relevant data to capture for QuickBooks integration, ignoring irrelevant details.
Can MakersHub read both bills and invoices?

Yes, invoices and bills are essentially the same document type. MakersHub processes documents associated with Accounts Payable, typically referred to as 'bills'.
Which accounting systems does MakersHub integrate with?

MakersHub offers a deep, 2-way integration with QuickBooks Online and all QuickBooks Desktop versions, automatically creating and updating vendors, items, and jobs.
Does MakersHub handle payments?

Yes, MakersHub provides end-to-end AP solutions, including vendor payments via ACH (standard, expedited, same-day), Wire transfer, or mailed Check.
What is invoice capture software?

It's software using technologies like OCR to convert paper or PDF invoices/bills into electronic formats, extracting data to streamline AP workflows, automate approvals, and simplify management.

AvidXchange FAQs

What ERP and accounting systems does AvidXchange integrate with?

AvidXchange offers integrations with over 200 ERP and accounting platforms, including Oracle NetSuite, Intuit QuickBooks, Microsoft, Sage, Acumatica, Blackbaud, MRI, Rent Manager, and Yardi.
How does AvidXchange improve visibility in the accounts payable process?

It provides a centralized, secure platform with intelligent reporting and real-time access to approvals and payment statuses.
Can suppliers choose their preferred payment methods on AvidXchange?

Yes, suppliers can select from Virtual Credit Card, AvidPay Direct, or mailed checks to suit their business needs.
Is AvidXchange suitable for hybrid and remote teams?

Yes, its secure cloud-based platform supports anywhere, anytime access for finance teams working in hybrid or remote environments.