Autodesk, a global leader in design and construction software, has signed a definitive agreement to acquire Payapps, a leading global provider of construction payment and compliance management solutions. This strategic move aligns with Autodesk’s commitment to spearheading the digital transformation in the construction sector.
Autodesk’s latest acquisition is a response to persistent challenges in the construction industry, particularly around late payments and cash flow constraints. By integrating Payapps’ expertise, Autodesk aims to streamline and enhance payment processes for general contractors and subcontractors.
The acquisition builds on a successful collaboration between the two companies announced in 2022. Operating as Payapps in Australia, New Zealand, the UK and Ireland, and GCPay in North America, the firms have jointly developed cloud-based solutions, significantly improving payment visibility among project stakeholders.
Autodesk’s acquisition underscores its commitment to a more efficient, transparent and compliant payment process. The integration of Payapps’ capabilities into Autodesk Construction Cloud aims to provide construction professionals with enhanced visibility during payment processes.
Autodesk stated: “With payment and compliance management solutions integrated into Autodesk Construction Cloud, our construction customers, including general contractors and subcontractors, will be able to spend less time worrying about payment risk and the tedium of the payment cycles and more time focusing on growing their business.”
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