Rabbet Announces Partnership with AvidXchange to Enhance the Invoice Management Process for Real Estate Development Teams | Business

By Editor On Sep 21, 2021

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AUSTIN, Texas – (BUSINESS WIRE) – Dec. September 2021–

Rabbet, the leading provider of real estate development management software, today announced a partnership with AvidXchange, the leading provider of accounts payable and payment automation solutions for the midmarket, to improve the invoice management process for real estate development teams.

Rabbet’s technology will now communicate with AvidInvoice, AvidXchange’s AP solution designed to shorten life cycle times and streamline e-invoicing workflows. This new functionality reduces the need to duplicate invoice data, which allows invoices to be paid more efficiently and with fewer errors, minimizing the cost and time of manual processing.

“This partnership not only strengthens our position in the real estate industry, but will also provide Rabbet customers with a better experience,” said Joe Fox, AvidXchange’s chief product officer. “We hope that during our collaboration, customers will have a significant impact on the collaboration between their development teams and accounting teams, as well as on the transformation of their day-to-day invoicing processes.”

Real estate development teams often rely on accounting teams to compile billing information, and much of their work is kept in spreadsheets that are not linked to accounting records. Through this partnership, AvidXchange will help Rabbet customers improve collaboration between these teams and maximize efficiency. Stream Realty Partners, one of the fastest growing full-service commercial real estate companies and a joint Rabbet and AvidXchange client, is already seeing the benefits of the partnership.

“With the partnership between Rabbet and AvidXchange, both our accounting team and development team can now trust their information and run their respective processes with ease,” said Albert Jarrell, Partner and Managing Director of Construction Management at Stream Realty Partners. “By using AvidXchange and Rabbet, the administration of invoices has become much more efficient.”

Will Mitchell, Rabbet CEO, said, “Our latest report on construction payments showed that slow payments cost the industry over $ 100 billion over the past year. By working with AvidXchange, we are taking an exciting step towards our goal of streamlining home finance payments and enabling real estate development companies to save time, reduce errors and build stronger relationships with everyone involved in the project. “

About Rabbet

Rabbet offers cloud-based solutions for commercial mortgage lenders and real estate developers to organize mortgage lending, automate administrative tasks and improve collaboration. Rabbet, based in Austin, TX, was founded in 2017 and provides transparency and efficiency in commercial construction projects worth billions of dollars.

View source version on businesswire.com: https: //www.businesswire.com/news/home/20210921005016/en/

CONTACT: Trisha Patel

tpatel@rabbet.com

(833) 474-6759

KEYWORD: TEXAS UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: COMMERCIAL CONSTRUCTION & REAL ESTATE SOFTWARE CONSTRUCTION & REAL ESTATE FINANCE DATA MANAGEMENT ACCOUNTING PROFESSIONAL SERVICES TECHNOLOGY

SOURCE: Rabbet

PUB: 09/21/2021 09:24 AM / DISC: 09/21/2021 09:25 AM

http://www.businesswire.com/news/home/20210921005016/en

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