Rabbet Announces Partnership with AvidXchange to Improve Invoice Management Process for Real Estate Development Teams |

AUSTIN, Texas – (BUSINESS WIRE) – Sep 21, 2021–

Rabbet, the leading provider of real estate development management software, today announced a partnership with AvidXchange, the leading provider of mid-market accounts payable and payment automation solutions to improve the process for managing accounts payable and payments. invoices for real estate development teams.

Rabbet’s technology will now communicate with AvidInvoice, AvidXchange’s AP solution designed to shorten lifecycle times and streamline workflows through electronic invoicing. This new feature reduces the need for duplicate billing data, allowing invoices to be paid more efficiently and with fewer errors to minimize costs and time spent with manual processing.

“This partnership not only strengthens our position within the real estate industry, but will also provide a better experience for Rabbet clients,” said Joe Fox, Product Director of AvidXchange. “By working together, we hope that clients will see a significant impact on the collaboration between their development teams and their accounting teams, and on the transformation of their day-to-day invoicing processes. “

Real estate development teams often rely on accounting teams to compile invoice information, and much of their work is managed in spreadsheets that are unrelated to accounting records. Thanks to 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 joint customer of Rabbet and AvidXchange, is already seeing the benefits of this partnership.

“Now, thanks to the partnership between Rabbet and AvidXchange, our accounting team and our development team can trust their information and execute their respective processes with ease,” said Albert Jarrell, partner and general manager of construction management for Stream Realty Partners. “ By using both AvidXchange and Rabbet, invoice management has become much more efficient.

Will Mitchell, CEO of Rabbet, said: “Our most recent report on construction payments showed that slow payments cost the industry over $ 100 billion last year. By partnering with AvidXchange, we are taking an exciting step towards our goal of streamlining payments in construction finance, saving real estate development companies time, reducing errors, and building stronger relationships with all parties. project stakeholders.

About Rabbet

Rabbet provides cloud-based solutions to commercial construction lenders and real estate developers to organize construction finances, automate administrative tasks, and improve collaboration. Based in Austin, Texas, Rabbet was founded in 2017 and provides visibility and efficiency across billions of dollars in commercial construction projects.

See the 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 AND REAL ESTATE BUILDING SOFTWARE CONSTRUCTION AND REAL ESTATE FINANCING DATA MANAGEMENT ACCOUNTING PROFESSIONAL SERVICES TECHNOLOGY

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PUB: 09/21/2021 9:24 a.m. / DISC: 9/21/2021 9:25 a.m.

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