AvidXchange Announces Lien Waiver Management for TimberScan
CHARLOTTE, N.C., June 01, 2023 (GLOBE NEWSWIRE) — AvidXchange Holdings, Inc. (Nasdaq: AVDX)
AvidXchange Holdings, Inc., a leading provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, has recently announced the launch of Lien Waiver Management for TimberScan. This new premium feature is part of AvidXchange’s full purchase-to-pay solution and offers seamless integration with Sage 300 CRE.
The integration of Lien Waiver Management into TimberScan aims to streamline the lien waiver process for construction companies and contractors. By automating the collection, tracking, and management of lien waivers, AvidXchange is helping businesses mitigate the risks associated with construction projects and ensure compliance with lien release requirements.
With this new feature, users can easily generate and distribute lien waivers, track waiver statuses, and store waiver documents in a centralized, secure repository. This enhanced functionality simplifies the lien waiver process, reduces manual errors, and improves overall project efficiency.
Impact on Individuals
For individuals in the construction industry, the introduction of Lien Waiver Management for TimberScan is a game-changer. Managing lien waivers can be a time-consuming and error-prone task, but with this new feature, contractors and subcontractors can automate the process and focus on more value-added activities. This ultimately leads to improved project outcomes and greater peace of mind for all parties involved.
Global Implications
On a global scale, the implementation of Lien Waiver Management for TimberScan sets a new standard for construction project management. By leveraging technology to simplify complex processes, AvidXchange is paving the way for increased efficiency, transparency, and collaboration in the construction industry worldwide. This innovation has the potential to drive significant improvements in project delivery timelines, costs, and overall success rates.
Conclusion
The introduction of Lien Waiver Management for TimberScan marks a significant milestone in AvidXchange’s commitment to providing innovative solutions for the construction industry. This new feature not only streamlines the lien waiver process but also sets a new standard for project management efficiency and collaboration. As businesses across the globe adopt this technology, we can expect to see a positive impact on project outcomes and industry best practices.
