Most real estate companies in the past few years have taken steps to increase efficiency in their accounts receivable department but have overlooked the significant savings potential in accounts payable. Studies have shown that the average invoice approval process costs organizations exorbitant amounts of money due to multiple approval steps, copying and overnight delivery. In addition, approvals can take extended time periods and are susceptible to maverick spending.
By putting in place Workspeed Payables, your entire organization can get one system which enforces standard approval processes while eliminating all of that paper. Workspeed Payables gives you real time visibility into the dollars you are spending. An electronic system not only has a return on investment but is a virtual requirement if you are a public company or hope to be one.
Workspeed Payables brings an opportunity for facilities and real estate companies to implement a broad range of AP solutions resulting in significant gains in efficiency. Using a proprietary workflow engine, Workspeed Payables electronically routes your invoices, from input to approval to your current G/L system, without any manual data entry from your accounting department. Workspeed’s scalable solution will improve vendor management for a single property or a national portfolio. Put in place a fully integrated PO system that gives you visibility into the dollars you are committing to now.
Intuitive and Fully Integrated
Workspeed Payables is the industry’s first fully integrated Accounts Payable Automation Solution and is the only Real Estate Management platform that covers the end-to-end process from tenant service request initiation to vendor payment processing.
Enforce process compliance, effortlessly
Eliminate paper shuffle, copying and FedEx bills
Decrease manual data re-entry
Robust budget control
Real-time consolidated reports facilitate pass-thru reporting
Ensure Sarbanes – Oxley Section 404 Compliance
Implement a seamless purchase order system
