We implemented automated AP/AR workflows for a portfolio of 7 investor-owned communities, improving vendor relationships, accelerating collections from residents and cutting down time to report by 5 business days.
The Challenge:
The client lacked centralized financial oversight and was dealing with delayed payments, inconsistent invoicing, and lack of insight into residents historical ledger data.
Our Solution:
We implemented automated accounts payable and receivable workflows, using Yardi Procure to Pay and Voyager 7S. This standardized vendor communication, and integrated their financial system with cloud-based tools.
The Results:
- Reduced average payment cycle time by 35%
- Increased AR collections by 25% within 90 days
- Enhanced vendor trust and relationships
- Provided centralized reporting for the investors and owners
- Cut costs of an additional AP Manager
Client Feedback: “Before Monarch, our AP/AR processes were not even in an accounting system. We had no idea if our financials were complete and accurate. Now we have monthly financials that look great and are GAAP compliant.”