AvidXchange Announces AvidPay Incorporation with TimberScan to...

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AvidXchange Announces AvidPay Incorporation with TimberScan to Build a Complete Purchase to Pay Solution

CFO Tech Outlook | Tuesday, July 13, 2021

AvidSuite for Construction, a collection of construction-specific, fully automated AP tools that operate directly with construction accounting systems like Sage 300 CRE, now has a new flexible API integration.

FREMONT, CA: AvidXchange, the principal provider of Accounts Payable (AP) and payment automation solutions for the middle market, recently announced AvidPay is now integrated with TimberScan to create a complete purchase-to-pay AP solution for the construction sector professionals. AvidSuite for Construction, a collection of construction-specific, fully automated AP tools that operate directly with construction accounting systems like Sage 300 CRE, now has a new flexible API integration.

"Construction projects are on the rise in 2021 so it is the perfect time to launch this industry-specific AP platform in light of next years expected growth," said Jim Campbell, Vice President of Construction, AvidXchange. "This technology will help professionals reduce the time spent on paperwork, allowing them to focus on driving revenue and business growth opportunities."

Customers such as contractors, commercial developers, and property managers can now match purchase orders, manage invoices, create reports, and access stored real-time and historical payment information on one centralized platform thanks to the combination of TimberScan and AvidPay technology. This functionality enables enhanced efficiency and profitability while providing better visibility into cash flow when combined with automation to replace paper invoices and checks with electronic solutions.

Through the AvidPay Network of 700,000 suppliers, AvidSuite for Construction also allows sending more secure and accurate payments. Subcontractors and vendors can pick how they wish to be paid using various electronic payment options while working directly with AvidXchanges' supplier services team for day-to-day support. Internal AP staff will no longer have to deal with payment queries or monitor supplier payment preferences, allowing them to focus on more value-added projects.

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