This blog post relates to Rockend, one of our previous brands. For more information please read the press release.
Property managers will agree that one of the most laborious tasks that comes with the job is processing creditor invoices.
On average, each property generates 20 invoices in a year and if you manage a rent roll of over a thousand properties you could be manually entering 20,000 invoices a year! That’s a lot of invoices and a lot of time spent on processing those invoices.
Thankfully there’s Invoice Genius – the invoice automation platform by Rockend that will help you process hundreds of invoices quickly and effortlessly. It’s one of the most-loved features included in our property management software, Property Tree. We think you’ll love it too. Here’s why:
1. It’s a time-saver
Our tests show that it takes the average property manager about 40 seconds to process a single invoice. Invoice Genius lets you go through your invoices in less than half the time, cutting it down to just 5-10 seconds per invoice. That’s about 60% faster processing time, meaning you can upload and process 100 invoices of any kind in just 20 minutes! Simply scan and upload your invoices and Invoice Genius will do the work for you.
2. It eliminates data entry errors
Thanks to its ability to read data from QR codes and bar codes on the invoice, Invoice Genius automates data entry, eliminating errors that occur when manually entering invoices. After you scanned or uploaded a stack of invoices, Invoice Genius will automatically extract the key information, align it with the correct owners account and auto-populate all required fields. All that’s left for you to do is check and then click to approve them all.
3. It stores invoices securely in the cloud
The real estate industry is one that is notoriously paper heavy, and filing documents – and invoices – can be a pain for most. With Invoice Genius, all uploaded invoices are automatically saved in Property Tree and securely stored in the cloud for future reference. This helps your office go paperless and creating more space as filing systems will no longer be needed. You’ll also be able to manage documents efficiently as well as streamline your processes and workflows.
4. It’s a complete end to end invoice automation
Invoice Genius not only scans, processes and digitally files invoices, it also lets you send invoices automatically to owners. Every time you use Invoice Genius, you’ll have the option to send tenancy invoices to primary contacts via email, further completing the invoicing process and making work much easier for you.
5. It’s free and easy to use
For such a smart feature, Invoice Genius is included as part of your Property Tree subscription at no extra cost. To start using its time-saving benefits, just activate Invoice Genius in the Subscription Features section in Property Tree. Setup is easy, and its intuitive interface gives you a step by step guide as you go along.
“We love Invoice Genius in Property Tree! We are able to charge tenants at the same time
as processing water rates and it pre-fills the amount and description for what tenants need to pay.
Tenants are paying on time more than before and we are able to get
the funds back to the clients quicker”
– Amanda Deshong, PMC Property Management
Activate Invoice Genius today and get hours of your life back so you can spend it on things that matter most. Just go to Configuration > Optional Features to activate, or checkout the knowledgebase for more info.