Payapps Limited and Autodesk have announced a strategic alliance to align Autodesk Construction Cloud solutions with Payapp construction payment management solutions in Australia, New Zealand, United Kingdom and Ireland, with GCPay in North America.
The alliance enables Autodesk and Payapps customers real-time accounting and faster payment cycles during the construction process.
Payapps provides contractors with solutions that improve the subcontractor payment management process, from schedules of values to electronic payment. In North America, GCPay offers general contractors the same benefits and manages the lien waiver exchange with their subcontractors through electronic payment processing.
By digitising 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. By partnering with Autodesk, we are extending the technology benefits to customers of both companies to help improve their accounting and AP processes,” says Geoff Tarrant, Executive Chairman, Payapps.
“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,” says Sidharth Haksar, Head of Construction Strategy and Industry Partnerships, Autodesk.
The field and project management solution part of Autodesk Construction Cloud integrates with ERP systems in North America as Payapps does with its GCPay solution. Payapps and Autodesk feed and receive data to and from those ERP systems for accounting and payment management through these integrations. Autodesk and Payapps work together to identify additional integrations that will benefit each other’s common customer base.
Payapps Limited says it improves efficiency, transparency, reduces risk for stakeholders and provides a user-friendly process for submitting and certifying payment applications.
General contractor - Reduce cost and improve transparency by connecting the field and office.
Subcontractors - Deliver on time and within budget with connected tools for the field and the office.
Designers - Collaborate on coordinated, constructible designs at any location.
Owners - Connect with your build partners for visibility into your project portfolio.
Payapps is a cloud-based construction collaboration software that reduces time and stops unnecessary costs on payment submissions and approvals. Developed for the construction industry, it works by allowing contract parties to collaborate on a neutral platform, eliminating the need for spreadsheet reconciliations and email trails.