Save Time with An All-In-One Procurement Solution

Digitising processes can seem daunting and you may worry about transferring your data onto a new platform. However, with a need to save money on expenses, property owners are looking into ways to cut costs and save time.

Processing payments for various products and services that keep your properties running smoothly is an inevitable expense, which is often a manually intensive and paper-heavy process. Many providers still use paper systems to procure supplies leading to inefficiencies, oversights and costly mistakes.

You need to have the right technology that integrates and communicates seamlessly. The main challenge for operators and managers is the wide range of real estate solutions on the market that do not integrate with one another. Fortunately, solutions such as Yardi Procure to Pay dramatically reduce friction across all elements of the procurement lifecycle, including vendor management, invoice processing and payments.

Go Paperless

By digitising procurement, you can go paperless and reduce manual tasks with an end-to-end solution. It allows you to gain better efficiencies and real-time visibility into budgets and cash flow to ensure business continuity with automated payment processing.

With a mobile-enabled platform, such as Yardi Procure to Pay, you can remove the need for printed invoices and automate invoice approvals whilst gaining full visibility into the transaction lifecycle. End-to-end solutions provide a centralised dashboard so your team can reduce manual tasks such as scanning, printing and keying information.

Simplify Processes

Investing in one integrated solution can help simplify your day-to-day processes, such as vendor management. You can mitigate risk and ensure vendor compliance using a single system of record for centralising information and onboarding.

Historically, processing invoices is a long and tedious procedure and can often take weeks and sometimes months to finalise. With Yardi PayScan, part of Yardi Procure to Pay, you can streamline the way you process invoices with efficient, online approval workflows. Your invoices are processed electronically, allowing for faster approval and instant vendor payments.

By implementing the right technology, you can utilise an online platform to streamline vendor management. VendorCafe, part of Yardi Procure to Pay, provides your vendors with the ability to self-service. You can proactively assess vendor risk and ensure that only approved vendors are added to your accounting system.

With a single system record for centralising information, you will be able to streamline onboarding, optimise communication and gain better transparency into your data.

Save time and money in the procurement process

Leveraging electronic invoicing or outsourcing the scanning and keying of invoices can reduce the cost per invoice. Additionally, it can reduce payment processing errors and make cash flow more controlled and predictable.

With a cloud-based solution, such as the Yardi Procure to Pay Suite, you can efficiently onboard and manage vendors, simplify purchasing, streamline approvals and electronically pay vendors.

Yardi Procure to Pay is our centralised procure-to-pay platform that includes comprehensive vendor management and compliance, automated procurement, electronic invoice processing and outsourced vendor payments.

SHARE POST

Facebook LinkedIN

AUTHOR

As Yardi’s senior marketing writer for international content, Sophie draws on her journalism and copywriting experience to transform complex real estate and technology topics into accessible, on brand narratives that connect with global audiences.

Recent articles

How PBSA Finance Teams Shorten Close Cycles with Student IQ

Discover how leading PBSA operators shorten month-end close, improve data accuracy and gain real-time insight using Yardi’s Student IQ platform.

Solving Real Estate Fund Finance Challenges Through Centralised Technology and Data Strategy

Solving Real Estate Fund Finance Challenges Through Centralised Technology and Data Strategy

Most finance functions are still built around fragmented processes, manual workarounds and disconnected systems. Unfortunately, that model doesn't scale, and it doesn't support strategic decision-making. EY saw this coming and rebuilt its real estate finance delivery model from the ground up with Yardi's platform at the centre. See how you can address finance challenges with centralised technology.

Build to Rent Leasing Excellence: Schemes Raising the Bar

Discover how Build to Rent is outperforming other rental models in the hereSAY Leasing Benchmark Report & what defines leasing excellence.

02 / 11 / 26