Property Management

AP Automation for Property Management Firms

Property management firms have better things to do than AP and invoice processing.

But the AP staff at property management firms can waste valuable time:

 

  • Opening mail, sorting and/or scanning Paper invoices
  • Retrieving invoices from an e-mail box, supplier portal or FTP landing site
  • Keying invoice information for general ledger (GL) coding
  • Matching invoices against purchase orders (POs) and proof-of-delivery receipts
  • Forwarding invoices for approval and chasing down purchasers
  • Managing back-and-forth e-mails and phone calls to resolve exceptions
  • Re-keying invoice information into a property management system
  • Generating reports for senior management and other stakeholders

 

If this is your accounts payable and invoice processing environment, it can be hard to track invoice status – or confirm invoice receipt for a supplier– until invoice data is keyed.

And it can take days – or even more than a week – to approve a single supplier invoice.

Remote working only complicates AP and invoice processing for property management firms.

Read our case study on Charles H. Greenthal Management Corp.

The best AP automation solution for property management firms

AP automation solutions digitize and simplify invoice processing for property management firms.

  • All paper and electronic invoices are aggregated onto a single invoice processing platform
  • Intelligent data capture extracts header and line-item invoice information with high accuracy
  • Dynamic workflows digitally route invoices to approvers and external Board Members based on your business rules
  • Mobile approvals keep approvals flowing, even when staff work remotely
  • Information on approved invoices is uploaded touch-free to any property management system
  • An online portal empowers suppliers to check the status of invoices 24/7/365
  • Graphical dashboards display the status of invoices in an intuitive manner
  • Analytics put smart cash flow and spend insights at the fingertips of those who need them
  • A secure cloud delivery model streamlines invoice processing in Work from Home

 

The efficiencies provided by AP automation solutions enable property management firms to scale their operations without the need for additional staff.  And cloud-based invoice processing software makes it possible for staff to process e-mailed invoices while working from home or on-the-go.

Lower invoice processing costs. Fewer AP errors. Faster invoice approvals. Better invoice visibility.

If this is what your property management firm’s AP department is trying to achieve, request a demo today! Let’s arrange a time to speak and show you our AP automation solution.

Learn more about our AP automation solutions and digital technologies for Life Sciences.

If your bank wants to resell an AP automation solution to its property management clients, let's chat! Contact IPS today!