IPS platform enables property management firm to manage growth, enhance service, and free up payables staff to focus on value-added activities while working from home.
SECAUCUS, NJ, August 18, 2020 – IPS, a leading provider of cloud-based accounts payable transformation solutions, announced today that Charles H. Greenthal Management Corp., one of the largest family-owned privately-operated property management firms in the New York area, deployed the IPS cloud-based accounts payable platform. The platform has enabled Greenthal to manage its growth, provide better service to clients, and free up payables staff to focus on value-added activities.
Like most other property management firms, Greenthal’s staff of 12 accounts payable professionals used to manually key the data from e-mailed invoices for general ledger coding and approval routing. Manually keying the data on e-mailed invoices was time-consuming. It took between three and five days for staff to key the data and for invoices to be approved. The time that staff spent keying invoice data also kept them from high-value tasks such as data analysis.
Complicating things, invoices were not visible in Greenthal’s MDS property management software until the invoice data was keyed. This made it hard to track invoice status – or to even confirm that the invoice was received – or to respond to inquiries from suppliers regarding the status of payments.
The IPS platform provided Greenthal with immediate, tangible benefits:
- Faster uploads. It used to take Greenthal up to five business days to upload the e-mailed invoices it receives from suppliers. Greenthal now uploads 70 percent of its e-mailed invoices to its property management software the same day they are received and without employee intervention.
- Better invoice tracking. Greenthal can track invoices from the time they are received.
- More time for high-value activities. Eliminating the need to key invoice data has freed Greenthal’s accounts payable staff to focus more time on tasks such as data analysis.
- Greater scalability. Since deploying the IPS platform, Greenthal has expanded its property management portfolio, without the need to take on additional staff.
- Business continuity. The IPS solution made it possible for Greenthal’s staff to process e-mailed invoices while working from home during the COVID-19 pandemic.
“Property management firms are under tremendous pressure to deliver exceptional customer service while managing costs in these tough times,” said IPS Founder and Chief Executive Officer Greg Bartels. “Cloud-based accounts payable solutions uniquely address these challenges.”
Read the case study on Greenthal’s automation project.
IPS is a leading provider of cloud-based solutions that transform accounts payable and invoice processing end-to-end. The IPS platform combines intelligent data capture, robotic process automation, digital workflows, mobile, business analytics, supplier management and integration with any ERP application or downstream system. These are some of the reasons that IPS processes more than $100 billion in accounts payable spend each year, has created over 1 billion digital records over the past decade, and is the market leader in media payables.