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Autodesk signs definitive agreement to acquire Payapps for global payment and compliance management
Autodesk has taken a major step forward in transforming the construction industry by signing a definitive agreement to acquire Payapps, a leading global provider of construction payment and compliance management solutions. This move is aimed at addressing the urgent need for a more efficient, transparent, and compliant payment process across the sector.
The collaboration between Payapps and Autodesk Construction Cloud began back in 2022, and this acquisition builds on that strong foundation. By integrating Payapps’ technology into Autodesk’s platform, customers will now have access to a streamlined, faster, and more efficient way to manage construction payments. This is a win for all stakeholders involved in construction projects, from general contractors to subcontractors.
The construction industry has long relied on outdated, paper-based processes. Now, with digital transformation in full swing, technology is being embedded at every stage of a project. However, one area that still lags behind is the payment process. Contractors often face delays, cash flow issues, and even bankruptcy due to late or non-payment. On average, it takes 83 days for a subcontractor to get paid after completing work—this is a major pain point that needs fixing.
Payapps, known as GCPay in North America, offers cloud-based solutions that bring much-needed clarity and speed to the payment process. Their tools help teams save over 350,000 project hours annually and improve transparency between all parties involved. With this acquisition, Autodesk aims to provide an even more comprehensive Design and Make Platform, offering greater visibility and control during payment cycles.
Geoff Tarrant, Executive Chairman of Payapps, shared his thoughts on the partnership: “Our shared mission is to help customers increase profitability through cost efficiencies and reduce risks. With Payapps becoming part of Autodesk, our customers will experience the combined benefits of both companies as we continue to improve payment management.â€
Messer Construction, a top-100 general contractor, has used GCPay for eight years and has seen significant improvements in efficiency and accuracy. Similarly, Brett Mason of Built, a leading Australian contractor, expressed excitement about the integration, calling it a natural fit for both companies.
With Payapps integrated into Autodesk Construction Cloud, construction professionals will be able to focus less on payment risk and more on growing their businesses. The acquisition is expected to close in Autodesk’s first quarter of Fiscal Year 2025, subject to regulatory approvals.
While the details are still being finalized, the potential impact of this move is clear: a more connected, efficient, and reliable construction payment system for everyone involved.