Payment automation solutions firm AvidXchange has partnered with electronic payment solutions provider ClickPay to accelerate payments in the real estate market.

The partners aim to offer new real estate payments solutions to ensure better cash management.

AvidXchange and ClickPay will integrate their technologies to provide an end-to-end financial technology solution from accounts payable to accounts receivable.

Real estate businesses will be able to optimise their spend management with an accounts receivable and accounts payable solution. They can also utilise change management resources to boost the business, in turn decreasing operating costs and improving cash flow.

The collaboration will also offer access to a combination of AvidXchange and ClickPay’s expertise in operations, technology, security and customer service.

AvidXchange CEO and co-founder Michael Praeger said: “AvidXchange is thrilled about the opportunity to extend and offer our network of more than 400,000 registered suppliers to the real estate market by formalising our partnership with ClickPay.

“As technology continues to evolve, solutions available within the real estate market enable companies to gain better control of spend; resulting in greater accuracy in forecasting and budgeting.”

ClickPay CEO and co-founder Tom Kiernan said: “ClickPay is excited to deepen our relationship with AvidXchange to offer property managers the most innovative products and services for gaining clarity into their cash management operations.

“Founded on shared values of payment innovation, client centricity, and data security, ClickPay and AvidXchange are a natural fit for enabling property managers to drive efficiencies across spend and information technology.”