Property management company reduces invoice processing costs by 60% and upgrades online tenant services with integrated solutions
SANTA BARBARA, CALIF., Jan. 09, 2014 – Commercial property manager Arcadia Management Group Inc. has saved money and enhanced tenant services by expanding its Yardi Voyager® property management and accounting system with products from the Yardi Commercial Suite™.
Arcadia adopted Yardi Procure to Pay™, an end-to-end, paperless procure to pay system that includes purchase order and invoice processing and customized approval workflows. The solution has produced “out of this world” results, according to Gary Shaw, president of Arcadia. “Completing approvals and vendor payments electronically has saved time, money and the environment,” Shaw said. “Our per-invoice cost has dropped 60% with Procure to Pay. We process about 5,000 invoices per month, so that translates to thousands of dollars and a lot of paper.”
He added, “Procure to Pay also speeds up our common area maintenance reconciliations. With the invoices captured in Yardi Voyager, we no longer have to photocopy paper invoices and send them to vendors with the reconciliations.”
To increase the level of service to its tenants, Arcadia adopted another Yardi Commercial Suite product, Yardi COMMERCIALCafé™, which gives Arcadia’s tenants a portal for submitting maintenance requests online or from a mobile device. Allowing tenants to submit requests through the portal enables Arcadia to respond to and fulfill work orders much more quickly, driving higher productivity and increasing tenant satisfaction. “A key advantage of COMMERCIALCafé is that our work order system is now integrated with Voyager, eliminating duplicate data entry. Our previous work order system was separate from our property management platform, and recording actions in two databases was inefficient,” Shaw said. Yardi COMMERCIALCafé also allows tenants to pay rent online, review accounts and update profile information.
Also integrating with Yardi Voyager and providing online and mobile access is Yardi Inspection™, which Arcadia uses to set up, schedule and perform unit and property inspections. “Yardi Inspection lets us standardize our inspection procedures across our company. It’s also easier for our technicians to record their actions with smartphones in the field instead of using pen and paper back in the office,” Shaw said.
About Arcadia Management Group Inc.
Arcadia Management Group Inc., founded in 1986, is one of the leading commercial property management firms in the western U.S. It is ranked No. 5 on the Business Journal’s 2012-2013 book of lists for Commercial Real Estate Management, with more than 7.9 million square feet in its management portfolio The Phoenix-based company has offices in Arizona, California, Nevada, Utah and Texas. For more information, visit www.arcadiamgmt.com.
Now in its fourth decade, Yardi® is committed to the design, development and support of software for real estate investment management and property management. With the Yardi Commercial Suite™, Yardi Multifamily Suite™, Yardi Investment Suite™ and Yardi Orion™ Business Intelligence, the Yardi Voyager® platform is a complete real estate management solution. It includes operations, accounting and ancillary processes and services with portfolio-wide business intelligence and platform-wide mobility. Yardi is based in Santa Barbara, Calif., and serves clients worldwide from offices in North America, Asia, Australia, Europe and the Middle East. For more information, visit www.yardi.com.
Trade Media Contact: Joel Nelson 805.699-2040, ext. 1255