Real estate developer reduces manual tasks and paper, gains efficiency with mobile approvals
SANTA BARBARA, Calif., Aug. 30, 2018 – With its portfolio continually expanding, commercial and residential property developer Buchanan Partners LLC sought a new invoice processing system that could keep up. The company selected Yardi® PAYscan™ to automate its invoice processing approval workflows through vendor payment.
Yardi PAYscan is part of Yardi® Procure to Pay, an end-to-end procurement, vendor management and electronic invoicing platform. “PAYscan has saved clients up to 80% on per-invoice costs and 75% on per-invoice processing time,” said Akshai Rao, vice president of Procure to Pay for Yardi. “The solution minimizes errors from lost invoices, duplicate payments, late payments and overpayments by automatically matching invoices to purchase orders.”
“With a larger portfolio, we needed new tools to help our staff be more productive by eliminating manual data entry. We also wanted to reduce the volume of paper taking up space in our offices. PAYscan has done all that with automated workflows, electronic processing and instant drilldown to invoices and receipts. We don’t have to search through file cabinets and multiple databases,” said Johanna C. Bolin, controller for Buchanan. “With mobile access to the Yardi cloud, our workers are as empowered to process invoices in the field as they are in the office.”
Seamless integration of Yardi PAYscan with Buchanan’s Yardi Voyager® property management and accounting platform enables easy retrieval of invoices and other scanned items such as lease documents and W-9s.
Download a brochure to learn more about how Yardi PAYscan lets property managers spend more time on high-value tasks, provides full insight into transactions, offers even more convenience with a full-service option and supports a fully integrated procurement platform.
About Buchanan Partners LLC
Buchanan Partners LLC (“Buchanan”) is a leading full service real estate development firm operating in the Washington, D.C. region. Since 1998, Buchanan has made over $1.2 billion in total investments, with over $300 million in equity capital invested with multiple investment partners including pension funds, endowments and family offices. With a portfolio spanning a broad range of building types, Buchanan is able to move with the market, whether the environment favors residential, office, industrial or raw land investments. The firm, led by partners Brian Benninghoff, Bob Buchanan and Steve Hubert, has developed over 5,000,000 square feet of commercial space and has entitled and developed property on over 2,000 acres of land in Maryland, Virginia and the District of Columbia. For more information, visit buchananpartners.com.
About Yardi
Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi is based in Santa Barbara, Calif., and serves clients worldwide. For more information on how Yardi is Energized for Tomorrow, visit yardi.com.