Lose the Spreadsheets: Invoice Automation for CRE

AP Automation Best Practices
  • June 30, 2017
  • Chris Ogletree
Lose the Spreadsheets: Invoice Automation for CRE

Invoice and utility data automation streamlines real estate processes and optimizes portfolio performance

The widespread use of spreadsheet tools, such as Excel, in the commercial real estate (CRE) industry has been slowing productivity, confounding workflows, and causing errors for long enough. Manual data aggregation tends to unnecessarily consume useful work hours that could be spent on more crucial tasks. It is also prone to a number of issues, such as entry errors, incorrect data, and missing documents.

Advances in utility bill and data processing technologies introduce Invoice Automation to CRE, a method that drastically simplifies utility bill and invoice management processes.

Invoice automation is one of Goby’s core technology solutions. It allows the streamlining of your utility bill management processes all in one central, cloud-based platform. Goby can integrate directly with your utility providers, pulling bills and usage and consumption data straight from the source. This saves time, drastically reduces the chances of data errors, and minimizes the risk of late fees.

Some core features of Goby’s AP Automation solutions:

Invoice Capture: data from every type of invoice is digitized by Goby

Notifications: as soon as an invoice is available, you receive a notification that includes data and action items

Validation Engine: Goby scans your invoices for any outliers and errors, then flags invoices that need to be looked into

Invoice Payment: Goby pushes your invoice data into the accounts payable system of your choice

Workflow Management: configurable, personalized workflows for invoice approval streamline collaboration and improve efficiency

Budgeting & Reports: high-quality visualizations of your portfolio data give you the confidence to make data-driven projections and forecasts

Analytics: use your invoice and utility data to monitor portfolio performance and identify opportunities for improvement.

Managing bills from many disparate sources can be time consuming and inefficient. If improperly managed, data errors are impossible to track. Invoice Automation for CRE saves up to a week’s worth of man hours per month, reduces the risk of late fees, and mitigates the chances of billing errors with powerful validation tools, and this validated data is used to further optimize portfolio performance.

Chris Ogletree

Chris joined Goby as Inbound Marketing Coordinator in 2016, taking over generation and development of client-facing content, such as email campaigns, website administration, and marketing collateral. He has been an integral part in Goby's rebranding project and website redesign.

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