Client Description

  • Client is a large and fast growing MultiFamily company based out of Oakbrook, Illinois.
  • Client has 6000 apartment units across Midwest

Business challenge & drivers

  • Client had a lot of challenges around Accounts Payable & Accounts Receivable area
  • The approval workflows and AP implementation was complex and had a lot of pain areas
  • There were a lot of manual and time consuming activities which resulted in larger number of errors and high reconciliation times
  • No proper tracking for Service Issue Management

Solution approach

  • A team of experts from SmartFin performed a business Process reengineering exercise to align client’s AP process with best practices
  • An Optimized workflow process was designed based on client’s approval process
  • Designed process with optimum customization and automation
  • SmartFin also developed a roadmap for outsourcing the Finance front office functions

Key Highlights

  • Consulting engagement was completed in a timeline of 3 weeks with a team size of 3 Consultants
  • Reengineered AR Process and workflow to ensure rigid closure and established hierarchies for posting receipts.
  • Designed key process improvements in AP side for approvals and workflows which resulted in removing key bottlenecks in AP process
  • Automated manual intensive activities which resulted in reduced efforts and eliminated manual errors
  • Prepared roadmap for implementing Sharepoint for workflow and paperless office
  • The recommendations in outsourcing roadmap resulted in savings in excess of million dollars for the client over a period of 3 years.
  • Recommended for developing a portal for service ticket management across the organization for better tracking and quicker resolution of issues and adherence to SLAs.

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