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Newsroom   /   Press Release

Construction and Real Estate Firms Can Now Focus More on the Job, Less on Paperwork by Automating Accounts Payable Processes

April 3, 2019

CHARLOTTE, N.C. (April 3, 2019) – AvidXchange™, a leading fintech provider of accounts payable (AP) and payment automation solutions, today announced enhancements to its construction offering through a partnership with Core Associates, LLC, the makers of TimberScan® , to deliver a complete AP experience for the construction industry. The joint offering, named Core + AvidXchange Pay, provides the only full invoice-topay solution for Sage 300 CRE users, allowing firms to focus more on their jobs and less on time-consuming paperwork by delivering greater control over invoice and payment approvals, faster payments for vendors, and higher rebate potential to offset cash flow challenges.

“In the construction industry, whether you’re a general contractor or property management firm, you want to focus on the job, not managing manual, repetitive AP tasks,” said Jim Campbell, Vice President of Construction at AvidXchange. “Combining AvidXchange with TimberScan expands our product by incorporating even more industry-specific functionality, allowing construction firms to leave behind the days of stuffing invoices in visors or piling paperwork on a desk. By automating their AP, we’re reducing a painful, month-long process down to two or three days.”

“TimberScan was built to automate workflows and optimize the handling of project documents specifically for construction companies and property management firms using Sage 300 CRE,” said Frank Grenci, CEO and co-founder of Core Associates. “Core + AvidXchange Pay offers a seamless end-to-end payables solution to these Sage users, and to other ERP users, that provides full visibility along the way.”

Utilizing TimberScan alongside AvidXchange Pay, customers ranging from specialty contractors to commercial developers can manage the complete purchase-to-pay process in a single, comprehensive solution. From purchase order creation to invoice receipt and approval, the joint offering provides a consistent user experience, eliminates manual processing risks and ends the relentless paper-chase that hampers timely invoice approval and payments to vendors. With TimberScan and AvidXchange, users have total control over both committed and approved costs, as well as those not yet approved.

Through this partnership, customers will also benefit from the AvidXchange Supplier Network, which includes existing relationships with 470,000 suppliers. These connections minimize back-and-forth communication for construction firms, allowing decision-makers to focus on more strategic business objectives. The AvidXchange Supplier Network also helps to increase ePayment adoption, providing more rebates and enabling faster payment fulfillment for buyers.

About Core Associates Core Associates, LLC is the proud maker of industry leading AP workflow, invoice approval, and document management solutions. Primarily serving the construction and real estate industries, Core Associates is a charitable and growing business that offers an excellent operational environment for its talented workforce. As a certified partner for digital accounting and construction platforms, Core Associates provides exceptional services along with quality software that is continually innovating based on the evolving demands of the market. The Core Associates product portfolio includes hosted, mobile, and cloud-based applications serving more than 30,000 users, worldwide. www.core-assoc.com

About AvidXchange™

Founded in the year 2000, AvidXchange transforms the way companies pay their bills. Trusted by more than 5,500 customers throughout North America, AvidXchange is the industry leader in automating invoice and payment processes across the real estate, HOA, construction, and healthcare industries. AvidXchange is distinguished as a global fintech unicorn and one of the fastest growing technology companies in the U.S., offering a complete solution designed to help mid-market businesses modernize operations and embrace the future of finance. For more information, visit www.AvidXchange.com.

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