The Challenge
This leading commercial property management company manages many commercial properties around Australia, and monthly rental invoices need to be generated for over 3,500+ tenant contracts.
Building lease managers had to manually review tenant charges working off large printouts of up to 300 pages long (generated by Yardi’s CTI property management software). Any errors or required changes were manually marked up on these printouts and sent to another team for processing.
The report would have to be generated again and this process was repeated until all chargers were approved. This manual rent roll approval process was very time consuming and prone to errors.
The PhoenixDX Solution
Our customer decided to replace their existing property management software with a new application built in OutSystems integrated with their existing SAP platform. The new application automated the review and approval process. Once approved, the system automatically sent the rent roll to SAP for billing, streamlining the entire process.
Main features:
- Building managers can easily filter and search contracts and corresponding charges using sophisticated filters.
- A dashboard provides an overview of their progress through the rent roll contracts and current approval status.
- Approvals can now be done by clicking a box rather than highlighting a printout, and changes can be easily tagged for review.
- Administrators can allocate Building managers appropriate access only to the buildings they manage.
- Users can make batch changes to charges for single or multiple tenants with a single click.
- Users can generate and share summary and detailed reports.
- An automated workflow ensures all charges are verified and that approvals are obtained.
- Required documentation is automatically generated as a PDF document and can be downloaded, shared and archived for auditing purposes.
This significantly improved the user experience for the building lease managers and dramatically reduced errors and double handling of information. This allowed them to review and correct monthly charges easily.
The Benefits
This leading commercial property management group now has a fast, easy-to-use and reliable solution that automates and tracks their rent roll process:
- Increased efficiency: streamlined and digitised processes, reducing the time required to complete the rent roll approval.
- Accountability: each step of the rent roll approval process is digitally archived and can be easily audited.
- Improved User Experience: employees find the process easier, faster and more enjoyable.
- Mitigated errors: The rent roll can be processed on time while avoiding mistakes or delays in the invoicing process.
- Reduced costs: Yardi property management software was replaced, avoiding licence fees and training costs. The working hours of managers reviewing charges were greatly reduced.
