The alliance enables both Autodesk and Payapps to offer their respective customers real-time accounting and faster payment cycles during the construction process.
By digitising and automating the payment process and implementing real-time payment exchange, construction companies can decrease risk and take steps to improve profitability, said Payapps.
Geoff Tarrant, executive chairman of Payapps, explained: “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.
“By partnering with Autodesk, we are extending the technology benefits to customers of both companies to help improve their accounting and AP processes.”
Sidharth Haksar, head of construction strategy and industry partnerships at Autodesk, added: “The payment process in the construction industry is a tedious and administratively burdensome one for both general contractors and their trade partners.
“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 currently integrates with many of the same 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.
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