Accelerate Fund III has invested in PayShepherd, a Calgary-based contractor billing technology company, to enhance billing accuracy and efficiency in large industrial sectors.

Target Information

PayShepherd is a Calgary-based contractor billing solution designed to streamline and enhance billing processes for large industrial businesses. The platform captures high-volume contracts and timesheets, effectively detecting overbilling and ensuring transparency in contract history for all stakeholders involved. In industries such as pulp and paper, where contracted services can exceed $30 million, PayShepherd’s technology minimizes discrepancies in billing that often lead to overpayments.

The platform mandates that industrial clients require hundreds of service providers to utilize a single system for contract and billing submissions. By standardizing contract formats and applying analytical tools, PayShepherd proactively identifies overbilling and other payment inaccuracies in real time. The integrated system not only demonstrates financial savings associated with billing errors but also accelerates approval processes for payments, thus enhancing cash flow reliability.

Industry Overview

The contractor billing management market, particularly within Canada’s industrial sectors, is significant yet often overlooked. Large industrial businesses, including pulp mills and energy facilities, frequently deal with complex contracts go