AP Payments
as a Service for Construction

Lay the foundation for your business by pairing
technology and service in AP payments

In construction, labor costs are expected to increase by 21% over the next year. General contractors are incurring financial charges when making payments to suppliers, and many are turning to technology to unlock better efficiencies. Construction teams who use Finexio are reducing these costs by eliminating paper check costs, having access to accurate reporting data, and replacing headcount with concierge-level support through supplier management resources.

A building under construction
A trusted partner of some of the largest financial institutions, procurement, and accounts payable software.

"79% of U.S. Construction companies say that accepting electronic payments helps them get paid faster."

- Building Better Cash Flow In Construction with Digital Payments, PYMNTS.com

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What is AP Payments as a Service for Construction?

A complete and fully managed payments operations solution enabling construction companies to eliminate manual payment processes, increase cash flow, and streamline service through bank-level security capabilities.

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Open Your Toolbox to Fully Managed Payment Delivery & Operations

  • Payment Delivery to 100% of Suppliers – You send us a single payment file from your AP or Construction ERP software, and we streamline the process from there.
  • Comprehensive Payment Options – Getting paid on time can be a major roadblock in the construction space. Immediately benefit from modern electronic payments to suppliers, including virtual cards, FinexioExpress, eCheck, and more. Receive revenue from suppliers changing over to virtual card payments.
  • Customer Operations – Remittance emails are sent out automatically. Feel confident that our team has your back, by removing the burden of exception handling, disputes, and manual supplier communication from your AP team.
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An Improved Blueprint for
Dynamic Reporting & Analytics

  • Centralized Payment Reporting – Data at your fingertips for compliance evaluations. Our Portal provides insights into the status of each payment.
  • Payment Lifecycle Management – Unmatched visibility into  construction payments that you never had access to before.
  • Audit Trail – In construction, we recognize that audit trails are important to track in your business. Finexio’s Portal provides you with full visibility of a payment’s lifecycle from beginning to end.
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Monetize AP Payments for Your Construction Business

  • Revenue-Generating Electronic Payment Methods – Finexio understands the high importance in helping you drive revenue. We'll manage high virtual card acceptance and electronic payment adoption without the cumbersome effort to convert your suppliers.
  • Full Coverage of Payment Methods – Finexio leverages multiple payment methods to match your suppliers to the best payment option and increase revenue for your construction business.
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Cover More Ground with Payment Fraud Prevention & Security

  • Fraud Prevention – Finexio deploys account validation, know your customer (KYC), Office of Foreign Assets Control (OFAC) programs, and Anti-Money Laundering (AML) services to prevent fraud before it happens.
  • Fraud Detection – Finexio uses AI for transaction monitoring and fraud detection to identify fraud in real time, protecting all your payments.
  • Fraud Recovery – Finexio fraud and compliance experts leverage best-in-class, specialized fraud tools to recover fraudulent payments so your team can rest easy.
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Two people having a conversation on a construction site

Build Stronger Relationships with
Supplier Management

  • Predictive Model for Supplier Conversion We leverages AI data technology and card issuer data sets, including construction industry specific data, to optimize electronic payment conversion for you.
  • Data Cleaning & Enrichment – Payment data is accurate, up to date and robust. to increase electronic payment conversion and decrease payment delays. 
  • Strong Supplier Relationships – Finexio’s recognizes that you may have established relationships with your suppliers. Our supplier management works to maintain those relationships, which creates long-term success for both you and your suppliers.
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Why AP Payments
as a Service for Construction?

Payments research is showing that construction companies are targeting AP processes to adopt new technologies and lead the way in innovation. Contractors can benefit from Finexio’s AP Payments as a Service, which eliminates paper checks, manual payment processing, and supplier exception handling, while seamlessly moving payments to secure electronic payment methods.

Reduce Costs

By eliminating manual work, paper checks, and preventing errors. Leverage revenue-generating payments by switching suppliers to virtual card payments.

Gain Visibility & Control

With insight into supplier payments and payment types, reconciliation, and other relevant reporting data.

Save Time

By removing administrative payment tasks, check-runs, and supplier management, so your AP team can focus on other value-add activities.

Prevent Fraud

By reducing payment management liability and removing security burdens caused from poor visibility into payment audit trails. Virtual cards are the most secure form of payment methods that suppliers could be accepting.

“We chose Finexio not just for the revenue share, but for the ease of making payments and the security of those payments.”

- Adam Abernathy, President at ViCon Construction, LLC

Ready to make AP Payments Ground-Breaking for your Construction Business?

Comprehensive payment options.
A full team of support to back your team.
Secure payments.

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