{"id":19497,"date":"2018-02-08T05:00:34","date_gmt":"2018-02-08T13:00:34","guid":{"rendered":"https:\/\/www.yardi.com\/blog\/?p=19497"},"modified":"2020-12-24T22:46:24","modified_gmt":"2020-12-25T06:46:24","slug":"paperless-perks","status":"publish","type":"post","link":"https:\/\/www.yardi.com\/blog\/paperless-perks\/","title":{"rendered":"Paperless Perks"},"content":{"rendered":"
\"\"<\/a>
Larry Orth<\/figcaption><\/figure>\n

Are you feeling energized for 2018? It\u2019s a new year, bringing fresh challenges and opportunities. And while every January can inspire a list of resolutions, for every real estate business one goal is likely to top the list year after year: reduce costs.<\/p>\n

When it comes to lowering operational expenses, going paperless for as many tasks as possible is smart. And here\u2019s some great news: it\u2019s easier to do than you might think, and the benefits are big. For Dallas-based apartment manager LumaCorp, centralizing and automating procurement and payables processing on its mobile Yardi property management platform using Yardi Procure to Pay<\/a> has not only reduced costs for the company, but also saves its staff valuable time (in addition to sparing more than a few trees). And in just three months, by eliminating the cost of transporting invoices by courier, Procure to Pay paid for itself.<\/p>\n

Better Buying and Bigger Discounts<\/strong><\/p>\n

LumaCorp manages 24 apartment communities with more than 6,000 units. According to Larry Orth, LumaCorp\u2019s controller, the company\u2019s maintenance, repair and operating supply costs fell by 4 percent the first year after adopting Yardi Procure to Pay, an end-to-end, paperless procurement and invoice processing system that\u2019s part of the Yardi Multifamily Suite<\/a> full-business platform.<\/p>\n

Orth said, \u201cFor me, the great thing about it is the time efficiency, both at the properties and in the accounting department. We are a full service Procure to Pay client, so the processing is handled by Yardi, which takes a lot off our onsite people\u2019s hands. All told, Procure to Pay has reduced by up to 40 percent the time our team spends on the payables process. And it\u2019s a paperless system, which obviously also benefits the environment.\u201d<\/p>\n

LumaCorp has also gained savings from the negotiated pricing across its portfolio by using Yardi Marketplace<\/a> catalogs within the Procure to Pay platform. \u201cWe increased the discount from 3.5 percent to 5 percent with our largest maintenance supplier. Procure to Pay has driven a reduction in overall supplies expense of approximately 4 percent,\u201d Orth said.<\/p>\n

Painless Processing and Approvals<\/strong><\/p>\n

Procure to Pay also minimizes risk by providing total visibility into spend and preventing duplicate orders and payments. Orth elaborated, \u201cIn addition to giving us better pricing, Procure to Pay provides automated workflows that help us incorporate procurement policies corporate-wide.\u00a0 This keeps us from creating a purchase order after the product or service has already been received or performed, for example.\u00a0 The mobile application also helps us because we invariably need approvals at the last minute.\u201d In 2015, LumaCorp\u2019s online processing of purchase orders totaled a value of two million dollars.<\/p>\n

Emily Short, director of business intelligence for LumaCorp, also sang the praises of Yardi\u2019s paperless solutions that enable the company to focus on its residents. \u201cOur goal is to run as efficiently as possible. When we close on a new property, we want to walk in and hit the ground running,\u201d said Short. \u201cProcure to Pay\u2019s approval workflows and the fact that an order doesn\u2019t get released until it\u2019s approved really got our expenses into line,\u201d she added.<\/p>\n

LumaCorp also uses Yardi solutions for marketing, leasing and resident services<\/a> to meet its customer service standards and earn industry accolades in the process, including Top Rated Property Award for 14 of its properties by apartmentratings.com in 2015. \u201cWe\u2019re a great story of a small client that uses Yardi\u2019s suite of products<\/a> to be efficient and profitable,\u201d Short added.<\/p>\n

Learn more about Yardi Procure to Pay<\/a> and the Yardi Multifamily Suite<\/a> to reduce costs and energize your operations.<\/p>\n","protected":false},"excerpt":{"rendered":"

Are you feeling energized for 2018? It\u2019s a new year, bringing fresh challenges and opportunities. And while every January can inspire a list of resolutions, for every real estate business one goal is likely to top the list year after year: reduce costs. When it comes to lowering operational expenses, going paperless for as many […]<\/p>\n","protected":false},"author":616,"featured_media":12635,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_s2mail":"yes","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5,3354],"tags":[498,1596,29,885,54,40,116,2271],"class_list":["post-19497","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-people","category-team-yardi","tag-automation","tag-lumacorp","tag-multifamily","tag-procure-to-pay","tag-procurement","tag-yardi","tag-yardi-client-profile","tag-yardi-multifamily-suite"],"acf":[],"yoast_head":"\nYardi Blog<\/title>\n<meta name=\"description\" content=\"Are you feeling energized for 2018? It\u2019s a new year, bringing fresh challenges and opportunities. And while every January can inspire a list of\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Paperless Perks\" \/>\n<meta property=\"og:description\" content=\"Are you feeling energized for 2018? It\u2019s a new year, bringing fresh challenges and opportunities. And while every January can inspire a list of\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardi.com\/blog\/paperless-perks\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Blog\" \/>\n<meta property=\"article:published_time\" content=\"2018-02-08T13:00:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-12-25T06:46:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2015\/02\/orth2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"554\" \/>\n\t<meta property=\"og:image:height\" content=\"666\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Lee Ann Stiff\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Lee Ann Stiff\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.yardi.com\/blog\/paperless-perks\/\",\"url\":\"https:\/\/www.yardi.com\/blog\/paperless-perks\/\",\"name\":\"Paperless Perks - Yardi Corporate Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.yardi.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.yardi.com\/blog\/paperless-perks\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.yardi.com\/blog\/paperless-perks\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2015\/02\/orth2.jpg\",\"datePublished\":\"2018-02-08T13:00:34+00:00\",\"dateModified\":\"2020-12-25T06:46:24+00:00\",\"author\":{\"@id\":\"https:\/\/www.yardi.com\/blog\/#\/schema\/person\/069110045c75f04e7223477b64b54f02\"},\"description\":\"Are you feeling energized for 2018? It\u2019s a new year, bringing fresh challenges and opportunities. And while every January can inspire a list of\",\"breadcrumb\":{\"@id\":\"https:\/\/www.yardi.com\/blog\/paperless-perks\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.yardi.com\/blog\/paperless-perks\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.yardi.com\/blog\/paperless-perks\/#primaryimage\",\"url\":\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2015\/02\/orth2.jpg\",\"contentUrl\":\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2015\/02\/orth2.jpg\",\"width\":554,\"height\":666},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.yardi.com\/blog\/paperless-perks\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.yardi.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Paperless Perks\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.yardi.com\/blog\/#website\",\"url\":\"https:\/\/www.yardi.com\/blog\/\",\"name\":\"Yardi Blog\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.yardi.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.yardi.com\/blog\/#\/schema\/person\/069110045c75f04e7223477b64b54f02\",\"name\":\"Lee Ann Stiff\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.yardi.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2026\/02\/Lee-Ann-Stiff_Headshot.jpg?w=96\",\"contentUrl\":\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2026\/02\/Lee-Ann-Stiff_Headshot.jpg?w=96\",\"caption\":\"Lee Ann Stiff\"},\"description\":\"Lee Ann Stiff is a senior writer at Yardi, covering commercial real estate technology and innovation. She has written for global brands including Marvel Comics and Warner Bros. Records, along with contributing content to numerous websites and publications. She holds a master\u2019s degree in English Literature from Yale University.\",\"sameAs\":[\"https:\/\/www.linkedin.com\/in\/lee-stiff-121b486\/\"],\"url\":\"https:\/\/www.yardi.com\/blog\/author\/lee-ann-stiff\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Yardi Blog","description":"Are you feeling energized for 2018? It\u2019s a new year, bringing fresh challenges and opportunities. And while every January can inspire a list of","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Paperless Perks","og_description":"Are you feeling energized for 2018? It\u2019s a new year, bringing fresh challenges and opportunities. And while every January can inspire a list of","og_url":"https:\/\/www.yardi.com\/blog\/paperless-perks\/","og_site_name":"Yardi Blog","article_published_time":"2018-02-08T13:00:34+00:00","article_modified_time":"2020-12-25T06:46:24+00:00","og_image":[{"width":554,"height":666,"url":"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2015\/02\/orth2.jpg","type":"image\/jpeg"}],"author":"Lee Ann Stiff","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Lee Ann Stiff","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.yardi.com\/blog\/paperless-perks\/","url":"https:\/\/www.yardi.com\/blog\/paperless-perks\/","name":"Paperless Perks - Yardi Corporate Blog","isPartOf":{"@id":"https:\/\/www.yardi.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.yardi.com\/blog\/paperless-perks\/#primaryimage"},"image":{"@id":"https:\/\/www.yardi.com\/blog\/paperless-perks\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2015\/02\/orth2.jpg","datePublished":"2018-02-08T13:00:34+00:00","dateModified":"2020-12-25T06:46:24+00:00","author":{"@id":"https:\/\/www.yardi.com\/blog\/#\/schema\/person\/069110045c75f04e7223477b64b54f02"},"description":"Are you feeling energized for 2018? It\u2019s a new year, bringing fresh challenges and opportunities. And while every January can inspire a list of","breadcrumb":{"@id":"https:\/\/www.yardi.com\/blog\/paperless-perks\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.yardi.com\/blog\/paperless-perks\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardi.com\/blog\/paperless-perks\/#primaryimage","url":"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2015\/02\/orth2.jpg","contentUrl":"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2015\/02\/orth2.jpg","width":554,"height":666},{"@type":"BreadcrumbList","@id":"https:\/\/www.yardi.com\/blog\/paperless-perks\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.yardi.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Paperless Perks"}]},{"@type":"WebSite","@id":"https:\/\/www.yardi.com\/blog\/#website","url":"https:\/\/www.yardi.com\/blog\/","name":"Yardi Blog","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.yardi.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.yardi.com\/blog\/#\/schema\/person\/069110045c75f04e7223477b64b54f02","name":"Lee Ann Stiff","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardi.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2026\/02\/Lee-Ann-Stiff_Headshot.jpg?w=96","contentUrl":"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2026\/02\/Lee-Ann-Stiff_Headshot.jpg?w=96","caption":"Lee Ann Stiff"},"description":"Lee Ann Stiff is a senior writer at Yardi, covering commercial real estate technology and innovation. She has written for global brands including Marvel Comics and Warner Bros. Records, along with contributing content to numerous websites and publications. She holds a master\u2019s degree in English Literature from Yale University.","sameAs":["https:\/\/www.linkedin.com\/in\/lee-stiff-121b486\/"],"url":"https:\/\/www.yardi.com\/blog\/author\/lee-ann-stiff\/"}]}},"jetpack_featured_media_url":"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2015\/02\/orth2.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/posts\/19497","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/users\/616"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/comments?post=19497"}],"version-history":[{"count":1,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/posts\/19497\/revisions"}],"predecessor-version":[{"id":19498,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/posts\/19497\/revisions\/19498"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/media\/12635"}],"wp:attachment":[{"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/media?parent=19497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/categories?post=19497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/tags?post=19497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}