It’s a harsh fact, but it takes longer for construction and engineering firms to get paid than any other industry in the U.S. The pinch points aren’t simply outdated, PDF-style invoicing processes, but vendor resistance toward modern payments systems that are being widely embraced by...
Real estate development management software platform Rabbet on Tuesday (Sept. 21) announced that it’s partnering with accounts payable (AP) and payment automation solution AvidXchange on a program to improve invoice management for real estate developers. Through the pairing, Rabbet’s technology will communicate with AvidInvoice, AvidXchange’s...
Australia’s federal Labor Party has issued calls to scrutinize late payment practices that it has said are “unfair” to small and mid-sized firms. Separately, a study of the construction industry finds that a majority of subcontractors would offer discounts, if they could be assured of...
What’s more complicated than a B2B transaction? A B2B transaction in an industry like construction, where what triggers a payment isn’t a single, simple invoice. In this sector, B2B payments are a complex process that includes layers of internal approvals to document sharing, in order...
March 08, 2019
What’s more complicated than a B2B transaction? A B2B transaction in an industry like construction, where what triggers a payment isn’t a single, simple invoice. In this sector, B2B payments are a complex process that includes layers of internal approvals to document sharing, in order for money to flow from lender to developer to general […]
February 20, 2019
Rabbet, an intelligent construction finance platform, announced Wednesday (Feb. 20) it has raised $8 million in Series A funding. In a press release, Rabbet said the funding round included participation by Goldman Sachs’ Principal Strategic Investments group, QED Investors and Camber Creek. “With the support of Goldman Sachs, QED and Camber Creek, Rabbet will further its […]
