Payapps and Autodesk partner to help construction companies automate payments
Payapps and Autodesk have announced a strategic alliance to strongly align Autodesk Construction Cloud solutions with Payapps’ best-in-class global construction payment management solutions in Australia, New Zealand, United Kingdom and Ireland, and with GCPay in North America. The alliance enables both Autodesk and Payapps to offer their respective customers real-time accounting and faster payment cycles during the construction process.
Payapps provides contractors in Australia, New Zealand, United Kingdom and Ireland with solutions that improve the entire subcontractor payment management process from the inclusion of schedules of values all the way through to electronic payment. In North America, GCPay provides general contractors with the same benefits and also manages the lien waiver exchange with their subcontractors through electronic payment processing. By digitizing and automating the payment process and implementing real-time payment exchange, construction companies can decrease risk and take steps to improve profitability.
“Construction companies are looking for ways to increase profitability through cost efficiencies and reduce risks by implementing improved compliance processes. The adoption of back-office technology is becoming more critical to automate what has been historically very time-consuming and error-prone manual processes in managing subcontractor billing,” said Geoff Tarrant, Executive Chairman of Payapps. “By partnering with Autodesk, we are extending the technology benefits to customers of both companies to help improve their accounting and AP processes.”
“The payment process in the construction industry is a tedious and administratively burdensome one for both general contractors and their trade partners,” said Sidharth Haksar, head of construction strategy and industry partnerships at Autodesk. “By collaborating with Payapps, we’re able to empower Autodesk Construction Cloud customers to benefit from automating a very spreadsheet-driven workflow to reduce payment cycle time and eliminate potential errors as well.”
Autodesk Build, the comprehensive field and project management solution that is part of Autodesk Construction Cloud, currently integrates with many of the same leading ERP systems in North America as Payapps does with its GCPay solution. Through these integrations, Payapps and Autodesk feed and receive data to and from those ERP systems, for real-time accounting and payment management. As part of the strategic alliance, Autodesk and Payapps will work together to identify additional integrations that will benefit each other’s common customer base.