Autodesk set to acquire Payapps for global payment & compliance management
By Gloria Mathias
Autodesk has signed a definitive agreement to acquire Payapps, a global provider of construction payment and compliance management solutions.
The acquisition builds off the previous collaboration and strategic alignment between Payapps and Autodesk Construction Cloud, which was announced in 2022. With this acquisition, Autodesk customers will benefit from leveraging technology that eases the burden of construction payment management in a process that is simpler, faster, and more efficient for all construction project stakeholders.
The construction industry is undergoing a much-needed and long-awaited digital transformation, evolving its paper-based ways of working into an approach where technology is integrated into every stage of a construction project’s lifecycle.
Known as Payapps in Australia, New Zealand, the U.K., and Ireland, and GCPay in North America, the company’s cloud offerings accelerate the visibility of payments between project stakeholders and have helped construction teams.
With this acquisition, Autodesk customers will benefit from leveraging technology that eases the burden of construction payment management in a process that is simpler, faster, and more efficient for all construction project stakeholders. The acquisition further reinforces our belief that how project teams build should be just as rewarding as what they build, and improving processes and workflows is paramount to improving the industry.
Geoff Tarrant, Executive Chairman of Payapps shared, “Payapps and Autodesk share a common mission of helping our customers increase profitability through cost efficiencies and reduce risks wherever possible. With Payapps becoming part of Autodesk, our customers will get to experience the technology benefits of both companies as we continue our journey to help construction companies improve their payment management processes.”
By expanding the breadth of the Autodesk Construction Cloud to include payment and compliance management, Autodesk will continue to build out an extensive Design and Make Platform and bring general contractors and subcontractors a new level of visibility during payment processes.
With payment and compliance management solutions integrated into Autodesk Construction Cloud, 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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