Considering numerous core functions that property managers or real estate companies need to focus on, they are often left with limited time to handle accounts payable and receivables. While these processes are critical to maintaining a steady cash flow and meeting companies’ financial goal, the sheer volume of transactions and huge ticket size involved make the process complex and cumbersome. Add to this, most of the real estate accounting processes are primarily manual, making it prone to inherent errors including duplication of invoices, data entry errors and even cyber/data security. These challenges are further compounded given the time constraint, restricting property managers ability to efficiently manage these tasks, while chipping away at the time needed to focus on more strategic business operations.
What Springbord can do for you
At Springbord we appreciate that you need to take care of strategic and core business functions in order to maximize profitability and streamline and enhance operations. We also realize the criticality of accounts payable (AP) and accounts receivable (AR) processes and therefore offer comprehensive AP and AR services designed to help you run these functions more efficiently and profitably.
Springbord’s AP services help streamline invoice visibility and workflow, improve payable cycle efficiency and timely reconcile and manage accounts payable to ensure you avoid paying any interest or late fines.
Springbord’s AR services help closely monitor and manage tenants' security deposits, move-ins, move-outs and renewals, process invoices and customer statements, process and analyze monthly rents, accurately tally cash receipts with invoices or checks and thoroughly follow-up for the payments as part of receivables management.
Why partner with Springbord
At Springbord, we have been working with real estate owners and property managers for a long time that has allowed us to gain deep and multi-domain experience. We thoroughly understand the concept of positive cash flow in real estate industry and its importance in ensuring consistent profitably. Our team of financial experts and accountants are trained to handle any kind of AP and AR functions diligently and efficiently. By partnering with us you can:
- Maximize and regulate cash flow by recovering payments timely and quickly and reducing delinquencies
- Gain better visibility through detailed and precise AP and AR reporting
- Ensure better compliance with standards and guidelines with our prompt, accurate, error-free and transparent process management
- Facilitate robust data security and confidentiality as we follow stringent policies to ensure we keep your data safe
- Experience top quality and reliable service at an affordable cost while you get to ensure uninterrupted focus on mission-critical tasks
To learn more about how we can support you in enhancing AP and AR process efficiency and drive better business outcomes, talk to us today!