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CLIENT SUCCESS STORY
Crescent Real Estate LLC
Crescent acquires, develops and operates high-end properties alongside an exclusive group of investors and high net-worth clients.
We save several months of labor every month with the budgeting and reporting capabilities from Voyager.
Denise McCracken
Business Systems Manager, Crescent Real Estate LLC
The decision to adopt Voyager and other Yardi products has saved our team a ton of time that they can devote to customer service.
Denise McCracken
Business Systems Manager, Crescent Real Estate LLC
Products featured
The benefits
Paperless invoicing has saved Crescent hours of labor and thousands of dollars previously spent on paper and other supplies. The company’s in-house printing of checks, which once numbered up to 2,000 per week, is almost entirely eliminated. The Commercial Suite has also enabled full integration of Crescent’s debt, forecasting, depreciation, valuations and vendor management operations.
The company
Crescent Real Estate LLC, based in Fort Worth, Texas, is a vertically integrated commercial real estate investment, operating and development firm that manages real estate investments throughout the U.S. Its portfolio includes office buildings, hotels and residential assets.
The challenge
Pain and frustration from multiple platforms
Crescent used a manually operated data management system for invoice processing. “Just looking up an invoice wasn’t only difficult, it was a painful, hours-long process that involved back-and-forth emails, manual scanning and uploading, printing checks in-house, and stuffing and stamping envelopes,” recalled Denise McCracken, a business analyst for Crescent.
The solution
Yardi Commercial Suite
Crescent adopted elements of the Yardi Commercial Suite, including Yardi Voyager Commercial, an end-to-end property management and accounting platform; Yardi PayScan, which automates invoice processing approval workflows through vendor payment; and CommercialCafe, a mobile-enabled tenant self-service platform that enables online payments and maintenance request submissions.
The story
Integrated platform provides a ‘big win’ for staff and tenants
“Moving to Voyager completely changed our accounting world. We can find information with a touch of a button instead of that painful process. And we and can use the entire Commercial Suite on a single screen without having to jump between modules or software systems,” McCracken said.
Crescent adopted Yardi PayScan to automate its invoice processing approval workflows through vendor payment. PayScan uploads images and automatically routes them to the correct approval workflows, minimizing errors from lost invoices, duplicate payments, late payments and overpayments while eliminating paper and manual data entry.
Meanwhile, CommercialCafe enables tenants to make payments online, set up recurring payments, and submit and track work orders. Crescent maintenance technicians can manage work orders in the field and communicate with tenants without having to return to the office. “That convenience is a big win for maintenance and our tenants, who enjoy an enhanced experience with us,” McCracken said.
She added, “The Commercial Suite has increased our efficiency and lets us focus on more important things than who paid a vendor when. It definitely has increased our output.”