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The payment advancement feature is called Invoice Accelerator, which empowers suppliers to receive electronic payments sooner on approved invoices. The supplier offerings called, AvidXchange Cashflow Manager™, give suppliers access to a portal where they can view the status of receivables and take advantage of a payment advancement feature to have power over their cashflow. Wilson was part of the first group of suppliers who had the opportunity to try out the AvidXchange Cash Flow Manager TM prior to its official launch. This feature has saved me so much time, because I don’t have to make phone calls or write emails to get this information,” said Virginia Wilson, Owner of Virginia’s Cleaning Service. “My job is much easier, because I can use the AvidXchange Cashflow Manager™, to access the invoice and payment data that I need. With the large supplier network that AvidXchange is serving, it has created new offerings to support this rapidly expanding base. The company has always been focused on delivering innovative customer-centric solutions to change the AP and payment automation game. AvidXchange has more than 300,000 suppliers in its network today that process invoice and/or payment transactions. AvidXchange has experienced phenomenal growth over the last several years, and a key part of AvidXchange’s customer ecosystem is its customers’ suppliers. , (February 16, 2017) – AvidXchange™, leading provider of accounts payable and payment automation solutions for midsize companies, announced today that they have unveiled new offerings for suppliers by the name of AvidXchange Cashflow Manager™. Based in Austin, TX, Rabbet was founded in 2017 and offers visibility and efficiency across billions of dollars in commercial construction projects.CHARLOTTE, N.C. Rabbet provides cloud-based solutions for commercial construction lenders and real estate developers to organize construction finances, automate administrative tasks, and improve collaboration. By collaborating with AvidXchange we are taking an exciting step towards our goal of streamlining payments in construction finance, allowing real estate development companies to save time, reduce errors, and build stronger relationships with all project stakeholders.” Will Mitchell, CEO of Rabbet says, “Our most recent construction payments report showed that slow payments cost the industry over $100 billion last year. “By using both AvidXchange and Rabbet, managing invoices has become significantly more efficient.” “Now, with the partnership between Rabbet and AvidXchange, both our accounting team and the development team can trust their information and carry out their respective processes with ease,“ said Albert Jarrell, Partner and Managing Director of Construction Management for Stream Realty Partners. Stream Realty Partners, one of the fastest-growing full-service commercial real estate companies, and a mutual customer of Rabbet and AvidXchange, is already seeing the benefits of the partnership. Real estate development teams often rely on accounting teams to compile invoice information, and much of their work is managed in spreadsheets that don’t tie to accounting’s records.Through this partnership, AvidXchange will help Rabbet customers improve collaboration between those teams and maximize efficiency. “As we work together, our hope is that customers will see a significant impact on collaboration between their development teams and accounting teams, and transformation in their day-to-day invoice processes.” “This partnership not only deepens our position within the real estate industry but will also provide a better experience for Rabbet’s customers,” said Joe Fox, Chief Product Officer of AvidXchange.
AVIDXCHANGE CASHFLOW MANAGER MANUAL
This new functionality reduces the need to duplicate invoice data, allowing invoices to be paid more efficiently and with less errors to minimize costs and time spent with manual processing. Rabbet’s technology will now communicate with AvidInvoice, AvidXchange’s AP solution designed to shorten lifecycle times and streamline workflows with electronic invoicing. Austin, TX (September 21, 2021) – Rabbet, the leading provider of real estate development management software, today announced a partnership with AvidXchange, the leading provider of accounts payable (AP) and payment automation solutions for the middle market to enhance the invoice management process for real estate development teams.