

Markets
Portfolio
Private investment and development
Client Since
2021
About
We chose Yardi’s real estate platform as our company is growing – we needed a solution that could handle our growth, consolidate our data, gain visibility on rent review/breaks and simplify lease renewals. Yardi does all of this and much more. Everything is consistent and streamlined and we have more visibility, more control and more security.
Tarryn Waddell
Financial Controller, Esprit Investments
Products featured
The benefits
- 70% reduction in time for invoice processing
- 24-month predictability of rent roll processes
- 100% digitised
- 0% critical dates missed
The company
Esprit Investments Limited (Esprit) is one of Ireland’s most active private investment and development companies and is responsible for developing some of Dublin’s most innovative buildings. Esprit built Ireland’s first office space with a substantial area over water, Waterways House, at the Grand Canal Basin in Dublin. Esprit is developing Trinity North – which will be Ireland’s first multistorey offices built over an existing rail line. This project is designed to LEED platinum certificate standard and to be a near zero energy building. Founded in 1992 by Eric Kinsella, one of Ireland’s most successful entrepreneurs, Esprit’s diversified property portfolio includes Georgian and modern office developments, prestigious corporate HQs, and industrial buildings/warehousing. With over 1 million square feet of property under management or construction, Esprit has a proven track record of delivering high-quality business environments for Irish and multinational clients.
The challenge
Esprit was using multiple systems and managing accounts, leases and more in spreadsheets. The team had no clear visibility into vacant space, tenancy schedules, and reports were updated manually – which was all open to human error. The company needed a solution that would consolidate its data, streamline processes and provide additional control and security. Furthermore, there are six different entities under Esprit which were growing quickly. It became harder for the team to manage this rapid growth with the current systems. The company required a platform that could support and handle that growth.
The solution
Esprit implemented solutions from the Yardi Commercial Suite, including Yardi Voyager, Yardi Construction Manager and Yardi Lease Manager. These solutions will help Esprit to centralise its data into one connected solution, allowing for standardisation of processes, easier access to data, faster reporting and project management. Construction Manager provides visibility and helps to mitigate risk on large capital and tenant improvement projects. Procure to Pay automates time-consuming processes, streamlines invoice approval and processing and centralises procurement. Furthermore, Lease Manager will help Esprit to proactively manage collections, track outstanding AR, deferral plans and report on overall tenant revenue, risk and collections. All these solutions integrate with Yardi Voyager to provide a comprehensive view of Esprit’s portfolio with clear visibility into tenant and portfolio health.
The story
Since implementing Yardi’s asset and property management software, Esprit has consolidated all previous systems into a single connected real estate platform. In addition, accounts payable has been streamlined, as AP images can now be easily scanned and uploaded. Due to this, Yardi’s technology has assisted the service charge reconciliation process at year-end, as all costs can be reviewed. On the Accounts Receivable side, Yardi has reduced the invoice processing time by 70%.
“When issuing invoices to tenants, Yardi automatically does the calculation for you to see what the rent or service charge should be, depending on the relevant period, based on your lease setup. The PDF document is then produced from your ID and then sent electronically to the tenant – all from one system. Before Yardi, all of this would have been individual steps in different applications and therefore a very cumbersome process. It’s helped reduce the AR invoice processing time by at least 70% and means there’s less chance of human error as it’s all digitised.” Tarryn Waddell, Esprit Investments
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