AvidXchange, which develops web-based e-purchasing software for the real estate industry, released an updated version of its lead product on Tuesday.

AvidSuite 4.0 includes new collaboration tools designed to improve interaction between real estate firms and vendors, the company said. Clients can provide vendors with a web interface for invoice submittal and also helps automate paper-based management systems for property management, the company said.

AvidXchange: www.avidxchange.com