Reflecting on 2023, Looking Ahead to 2024
Twelve months ago, I reflected on the difficulties in investing in CRE due to the uncertainty in the market and current status of the T-bill in my white paper “Maximizing... Read More
We are excited to announce that Rabbet has partnered 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 allows real estate development teams and accounting teams to work together seamlessly, saving time and boosting availability of information for all involved in the invoice process.
Development teams often operate outside of standard systems, relying on spreadsheets. 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 These dynamics mean extra administrative time for everyone involved, decisions based on out-of date information, and a lack of visibility for senior management, compromising both the bottom line and reputations with capital partners.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 new connection between Rabbet and AvidXchange’s AvidInvoice solves this 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 lender and equity partner relationships.
This new partnership will allow 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.
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