Does anybody have suggestions for Accounts Payable software? We have been using AvidXChange through their Rent Manager integration, but the customer support has been terrible… Also, they mail a check and request a vendor to take a discount to be paid by EFT or ACH, and vendors do not like that.
When we were on Buildium prior to Rent Manager, they provided the option to print a check locally, mail a check as a service for a small fee, or process and EFT for no charge.
In particular, does anybody use Bill.com, Stampli, Beanworks, Tipalti, Yooz, or any other platform, and does it integrate with Rent Manager?
I have worked with Beanworks for one of my clients. It integrates with RM just like Avid. However, their customer support was even worse. We eventually switched back to Avid. That was over a year back. I am not sure if their support has improved since. Beanworks has a better user interface.
I have worked with bill.com but it does not integrate with RM.
Thanks for the update. Beanworks was acquired by Quadient and we currently use a postage meter from Quadient. On the postage side, their customer service is good. Hopefully they can push that to Beanworks (now know as Quadient AP by Beanworks).
We also just identified Condoworks which specializes in AP for property management. They claim they can even download your utility bills from each vendor into their portal and integrate it to Rent Manager. Planning to have a demo next week on both.
If these vendors cannot figure out how to improve service I’m almost inclined to go back 5 years when we printed paper checks.
A lot of banks offer Bill Pay Service. We use Chase Bill Pay service with one client. Its free and takes about 7 days for the check to reach vendor address once we post it on Chase portal.
In my opinion, AP Management software are helpful only when you need a sophisticated approval workflow for bills with multiple approval channels and layers.
We cannot use bank bill pay because that would require giving our overseas bookkeepers transaction access to our checking account, which would be a fraud risk. Also, by using bank bill pay, you are creating two different processes: first you make the payment and second you record the payment. It is so much easier if you could combine both of these into one step which the AP software allows.
Yes, I do agree that a lot of smaller companies may not need the approval process but one advantage is that you can pay vendors through EFT or ACH, which is faster than a paper check.
Also, from some of the demos that I’m seeing, they automatically code the invoice for you, and in some cases, they automatically log into your utility account to download invoices directly into your accounting software. This may seem fairly simple, but it can take a huge amount of time and is a recurring task. Any kind of automation would be helpful.