Rabbet Customers Can Send Invoices Data Directly to AvidXchange

Rabbet partners with AvidXchange, a leading solution for automating invoice and payment processes. Rabbet customers who add the Send to AvidXchange feature can now easily send coded invoices directly to AvidXchange for invoice processing, payment, and posting to accounting systems. This integration allows real estate development and accounting teams to work together seamlessly, saving time and boosting the availability of real-time information for all involved in the invoice process.

Why use Rabbet and AvidXchange together?

Development teams often operate outside of standard systems, relying on spreadsheets instead of connected software. Accounting teams take on the burden of keeping records but rely on reconciliations with the development team. These dynamics mean extra administrative time for everyone involved, decisions based on out-of-date information, and a lack of visibility for senior management, compromising both the bottom line and reputations with capital partners.

As a result, teams end up doing redundant data entry across multiple systems, leading to wasted time and costly mistakes. The integration between Rabbet and AvidInvoice by AvidXchange solves this inefficiency problem.

With this new functionality, users no longer need to manually enter information in two systems. Leading real estate companies have discovered the benefits of combining development management software with AP automation software to manage development projects and financial processes. Operating from the same information empowers both teams to make more informed decisions, reallocate time to value-add activities, and support stronger relationships with capital partners.

With the AvidXchange integration, Rabbet customers can:

• Process and approve invoices within the context of the project budget
• Tie cost to budget line item, cost code, contract, and draw
• Reduce the need for manually entering information between Rabbet, AvidXchange, and the accounting system
• Post invoices to AvidInvoice with document, invoice data, and record of approvals

This partnership allows real estate development teams to have a seamless connection between electronic invoice processing, payments, budget management, and automated reporting for capital partners. Interested in learning more? Contact us today.

Already a Rabbet customer?  Please reach out to your customer success manager to learn more.