Finexio, RedTeam to combine their expertise in B2B Payments

Thursday 22 March 2018 00:35 CET | News

Finexio has announced is teaming up with RedTeam to build a new solution for electronically distributing payments to subcontractors and vendors.

The commercial construction industrys payment chain is particularly complicated and fraught with risk, considering the sheer number of outbound payments involved in large-scale construction projects and the potential for lien and bond claims. Finexio and RedTeams new product will mitigate this risk by integrating electronic payment capability directly into RedTeams platform, alleviating payments being delivered without lienholder approval. This payment capability minimizes the possibility of lost checks and human error while maximizing delivery speed.

For the first phase of market implementation, Finexio and RedTeam have partnered with T&G Constructors, an AIA Contractor of the Year licensed in 23 U.S. states. T&G will help further refine the payment delivery experience based on their 31 years of expertise in executing thousands of commercial construction projects.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Finexio, RedTeam, B2B payments, supply chain management, e-invoicing
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: World
This article is part of category

Banking & Fintech