Yardi Procure to Pay Suite
Efficiency and Peace of Mind
Meanwhile, Yardi Marketplace “completely transformed our accounting controls,” Shaw said. Under Arcadia’s previous system, maintenance technicians took an invoice from a retail store purchase back to the office, explained the purchase and the property for which it was to be billed, routed it through the company’s billing system and posted it, at which time it went to the property manager for coding. “That’s far too many steps, and centralizing our procurement activities eliminates most of them. The property manager is part of the invoice approval workflow and knows what’s happening at each step,” Shaw said. Ordering online eliminates time the maintenance staff spent shopping at a store. The item can be shipped directly to its destination, a boon for productivity.
VENDORCafé saves Arcadia time by allowing vendors to submit invoices online, with approvals auto-routed and approved payments delivered electronically. Along with eliminating lost and duplicate invoices, the system provides a single vendor management system of record that reduces Arcadia’s vendor onboarding risk. Vendors can upload insurance certificates and other documents themselves. “The transparency and security from VENDORCafé give our entire team peace of mind,” Shaw said.
Yardi PAYscan also streamlined Arcadia’s common area maintenance reconciliation process. The company’s Yardi Voyager property management and accounting system automatically captures invoices, relieving the staff of photocopying paper versions and sending them to vendors with the reconciliations.
“The Yardi Procure to Pay Suite makes the procurement cycle easier and saves us a bunch of money. It’s a huge time-saver.” Shaw said.