Charlotte, N.C. – (October 15, 2018) – AvidXchange™, the leading provider of accounts payable and payment automation solutions for midsize companies, and ClickPay, a leading provider of comprehensive electronic payment solutions for the multifamily, HOA, condominium and co-op segments of real estate industry announced a partnership to help accelerate payment processes in the real estate market.
Through this partnership, real estate businesses will now have access to the most innovative real estate payment solutions to improve cash management. This partnership offers benefits such as:
- The opportunity to optimize spend management with an accounts receivable and accounts payable solution to drive productivity
- The ability to leverage change management resources to expand the business further, resulting in reduced operating costs and improved cash flow
- The advantage of gaining access to ClickPay and AvidXchange’s in-depth knowledge of operations, technology, security, and passion for customer service
“AvidXchange is thrilled about the opportunity to extend and offer our network of more than 400,000 registered suppliers to the real estate market by formalizing our partnership with ClickPay,” stated Michael Praeger, CEO & co-founder of AvidXchange. “As technology continues to evolve, solutions available within the real estate market enable companies to gain better control of spend; resulting in greater accuracy in forecasting and budgeting,” added Praeger.
According to PayStream Advisors, nearly 89 percent of small to medium sized real estate companies continue to process invoices manually, with 52% of the payments still being made via paper check. The blend of technologies between AvidXchange and ClickPay delivers an end-to-end financial technology (FinTech) solution from accounts payable to accounts receivable – helping to set new industry standards.
Tom Kiernan, CEO & co-founder of ClickPay, said, “ClickPay is excited to deepen our relationship with AvidXchange to offer Property Managers the most innovative products and services for gaining clarity into their cash management operations. Founded on shared values of payment innovation, client centricity, and data security, ClickPay and AvidXchange are a natural fit for enabling Property Managers to drive efficiencies across spend and information technology.
About AvidXchange™
AvidXchange™ simplifies the way companies pay their bills through a trusted network fostering a true buyer and supplier collaboration. Serving more than 5,500 clients throughout North America, AvidXchange automates the end-to-end payment process for midmarket companies spanning across multiple industries including Real Estate, Community Association Management, Construction, Financial Services, Energy, and more. Headquartered in one of the top financial districts in the United States, AvidXchange has spent the last 18 years revolutionizing the FinTech space. As a result, Forbes identified AvidXchange as one of the top leading cloud companies in the world today. AvidXchange has been recognized as the top software company in North Carolina by the North Carolina Technology Association and one of the 50 fastest-growing private companies in the Charlotte area for six consecutive years. Ranked among Deloitte’s Fast 500 this past year, AvidXchange continues to remain true to its most valued competitive advantage – its people. For eight consecutive years, AvidXchange has been honored as one of the Best Places to Work in Charlotte. For more information, contact us at 800.560.9305 or [email protected].
About ClickPay
As the industry-leading platform for automating real estate receivables, ClickPay accepts all payment methods, including paper checks, e-checks (ACH), cash, and credit & debit cards. ClickPay delivers integrated print and e-bill presentment and payment services to increase operational efficiencies and enable profitable growth. Shaping the future of real estate billing and payments with innovative products and services, ClickPay provides property management companies with customizable solutions to connect with their tenants, residents, and homeowners. To learn more, go to www.clickpay.com.