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AvidXchange VS Splitit

Compare AvidXchange VS Splitit and see what are their differences

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Contents:
  1. ยป Base Details
  2. ยป Videos
  3. ยป Reviews
  4. ยป Alternatives

AvidXchange logo AvidXchange

Liberate Your AP

Splitit logo Splitit

Splitit is a solution that enables consumers to pay for their Retail or Web purchases using their existing credit cards and divide the total cost across as many interest-free payments as they choose, without completing a credit application or qualifโ€ฆ
  • AvidXchange Landing page
    Landing page //
    2023-09-09

At AvidXchange, we build software solutions and dedicated service teams that completely automate your accounts payable and payment process, liberating your AP from the endless paper chase thatโ€™s eating up time and money and replacing it with a digital application that provides you with 24/7 on-demand access.

Eliminate paper invoices and streamline approvals from anywhere without losing visibility or control.

Self-manage payments for suppliers you need to pay in-house, while decreasing chances of check fraud.

Make fast and secure payments while reducing processing costs -- backed by the industry's largest supplier network of over 500,000 companies.

Pay suppliers and subcontractors in their preferred payment method with greater visibility into payment status.

With AvidXchange you donโ€™t need to replace your existing accounting software. Instead, our industry-leading tools seamlessly integrate with over 150 of the most popular accounting systems including Oracle NetSuite, Intuit Quickbooks, MRI, Microsoft Dynamics GP, Sage Intaact, Sage 300 and Rent Manager.

  • Splitit Landing page
    Landing page //
    2023-09-24

AvidXchange features and specs

  • Integrations
    Visit https://www.avidxchange.com/integrations to learn more

Splitit features and specs

  • Interest-Free Payments
    Splitit allows customers to pay in installments without charging any interest, making it an attractive option for those looking to spread costs over time.
  • No Credit Check
    Splitit does not require a credit check to use its services, which can be beneficial for individuals who have a limited credit history or want to avoid impacting their credit score.
  • Easy Integration
    For merchants, Splitit offers easy and seamless integration with their existing payment systems, allowing them to offer flexible payment options to customers without significant technical overhead.
  • Increase in Sales
    By offering a payment plan, Splitit can potentially increase sales for merchants as customers are more likely to make larger purchases when they can spread out payments.

Possible disadvantages of Splitit

  • Credit Card Requirement
    Customers must have a credit card with sufficient available credit to cover the full amount of the purchase, which might restrict some users from using the service.
  • Hold on Credit Amount
    While using Splitit, the customer's credit card will have a hold placed on the full amount of the purchase, potentially reducing their available credit.
  • Limited Market Presence
    Splitit's availability might be limited depending on the region, meaning not all merchants or customers can access its services globally.
  • Dependence on Card Issuers
    The service's operation depends on agreements with card issuers and networks, which may create dependency issues if partnerships change or end.

Analysis of AvidXchange

Overall verdict

  • Yes, AvidXchange is generally considered to be a good solution for businesses looking to streamline their accounts payable processes.

Why this product is good

  • AvidXchange offers automation of invoice processing and payment management, reducing the time and effort involved in manual handling. Their platform provides increased efficiency, greater control over cash flow, and reduced errors. Businesses benefit from improved workflow management and the ability to integrate with various accounting software systems.

Recommended for

  • Medium to large-sized businesses
  • Companies seeking to automate their accounts payable processes
  • Organizations looking to improve operational efficiency and cost-effectiveness
  • Finance teams aiming to enhance accuracy and compliance in their financial operations
  • Companies requiring integration with existing accounting systems

Analysis of Splitit

Overall verdict

  • Splitit is considered a good option for those looking to split payments without taking on additional debt or interest. The service can be especially appealing to consumers who want to budget for larger purchases without impacting their credit rating. However, it's important to ensure that the merchant you're purchasing from supports Splitit.

Why this product is good

  • Splitit offers a unique payment solution that allows consumers to pay for purchases over time using their existing credit cards, without incurring interest or fees. This can be beneficial for managing cash flow and making larger purchases more affordable. Additionally, because Splitit's method doesn't involve opening a new line of credit, it avoids affecting the user's credit score.

Recommended for

  • Consumers who prefer interest-free payment plans
  • Individuals looking to manage cash flow efficiently
  • Shoppers who want to avoid impacting their credit score
  • People making larger purchases who prefer to spread the cost over time

AvidXchange videos

+ Add

AvidXchange Demo Webinar - How to Leverage the Top 3 Benefits of Automated Accounts Payable

More videos:

  • Review - AvidXchange Training

Splitit videos

+ Add

SPLITIT GOES GLOBAL WITH MASTERCARD DEAL ๐Ÿ’ณ

More videos:

  • Review - 3 PROBLEMS with buy now pay later. Afterpay, Zip Pay, Splitit etc.
  • Review - How Does Splitit Work for Shoppers?

Category Popularity

0-100% (relative to AvidXchange and Splitit)

AvidXchange

Splitit

Accounting
100 100%
Accounting
0% 0
Online Payments
0 0%
Online Payments
100% 100
Small Business
100 100%
Small Business
0% 0
Business & Commerce
0 0%
Business & Commerce
100% 100

User comments

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Reviews

These are some of the external sources and on-site user reviews we've used to compare AvidXchange and Splitit

AvidXchange Reviews

Best Accounts Payable Software for 2022
Why we like it: AvidXchange has invoice automation software, purchase order software and bill payment software that integrates with over 180 different accounting programs, making it more useful for small businesses that use something other than QuickBooks. Thereโ€™s also a customer service phone number for live support. A quote-based pricing system and no free trial may make...
Source: www.nerdwallet.com

Splitit Reviews

We have no reviews of Splitit yet.
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What are some alternatives?

When comparing AvidXchange and Splitit, you can also consider the following products

Bill.com - Your financial operations platform. The intelligent way to create and pay bills, send invoices, manage expenses, control budgets, and access the credit your business needs to growโ€”all on one platform.

Sezzle - Sezzle is a digital payment platform designed to help shoppers manage their financial futures with great ease.

Stampli - Interactive Invoice Management. Instant Relief for AP.

Klarna - Klarna provides e-commerce payment solutions for merchants and shoppers.

Spendesk - Smart spending solution for agile teams

PayPal Credit - PayPal Credit provides financing options to businesses.

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