CHARLOTTE, N.C., Feb. 2, 2017 /PRNewswire/ -- AvidXchange™, a leading provider of accounts payable and payment automation solutions, is pleased to announce its partnership with GCPay.com, the construction industry's leading online platform for automating subcontract management processes . AvidXchange™ and GCPay.com have formed a strategic partnership to deliver clients a best-in-class payment automation solution designed to meet the specific needs of the construction industry. The companies are excited to begin development, and have an integrated offering that will empower construction professionals with a solution that will automate the "lien waiver" management process, as well as the execution of electronic payments to subcontractors.
"The GCPay.com team is excited to begin our partnership with a company of the size, stature and expertise of AvidXchange. We have been recommending its payment services for quite some time to our clients and prospects, and have been impressed with the company's operations, technology and people," said Daniel Brunelli, Chief Operating Officer of GCPay.com.
"Going forward, our joint solution will take advantage of both companies' expertise to provide state-of-the-art construction invoice processing and payment solutions. Prospective and current clients of either AvidXchange or GCPay.com will have the opportunity to adopt the joint solutions, ensuring a streamlined, integrated method to process conditional payments to subcontractors, which can represent 75% or more of the total cost of a construction project. This is truly a win-win partnership for both companies' clients, and our team looks forward to launching the joint solutions soon with the construction professionals at AvidXchange," added Brunelli.
"We are very excited about the partnership with GCPay.com and the great innovation and value that we're going to bring to the construction industry," commented Michael Praeger, CEO and Co-Founder of AvidXchange. "We declared construction as one of our key verticals a couple of years ago, and our partnership with GCPay.com is an important step for us in continuing to serve this market. We're also looking forward to providing our construction customers with additional offerings to enable them to process conditional payments, such as payments that have a lien waiver associated with them," added Praeger.
GCPay.com is the construction industry's leading online platform for automating subcontract management processes, specifically invoicing, compliance and lien waivers. The company was founded in 2002 and is headquartered in Richmond, Va. The GCPay.com portal is accessed regularly by more than 14,000 entities, including General Contractors, Owners, Developers, Financial Institutions, Government Agencies, Engineering and Architectural Firms, and Subcontractors. The company has established strong software development partnerships with industry-leading financial systems including Vista by Viewpoint and Sage 300 Construction and Real Estate.
General Contractors using GCPay.com are able to cut costs and improve efficiency by eliminating costly manual and paper-based processes relating to subcontracts and change orders, subcontractor applications for payment, compliance documentation, and the generation and collection of lien releases. GCPay.com provides safe, secure on-demand access by any device including computers, tablets and smartphones, and it offers its GC clients and registered users free web-based training and free 24/7/365 support by U.S.-based employees.
AvidXchange revolutionizes the way companies pay their bills. Serving more than 5,000 clients throughout North America, AvidXchange is an industry leader in automating invoice and payment processes for midmarket companies spanning multiple industries including Real Estate, Financial Services, Energy, and Construction. AvidXchange has been recognized as one of the 50 fastest-growing private companies in the Charlotte area for four consecutive years, as well as ranked among Deloitte's Fast 500 this past year. In the midst of record growth, AvidXchange has remained true to its most valued competitive advantage—its people. AvidXchange has been recognized as one of the Best Places to Work in Charlotte for seven consecutive years. For more information, contact us at 800.560.9305 or [email protected].