Impower has conducted a survey on invoice processing among 172 participating property managers. The astonishing result: on average, 8 minutes are needed for invoice processing. The savings potential is often underestimated.
Impower has conducted a survey on the subject of invoice processing among 172 participating property managers.
Conventional software solutions for property management and the associated processes took an average of almost 8 minutes per invoice to process, if you consider the entire process from invoice verification, posting and payment to file storage.
As a result, around 75 working days must be spent in a year on processing invoices alone for the management of 1,000 units. The processing of incoming invoices is therefore a time-consuming and correspondingly cost-intensive task for most property management companies.
Very few property managers are aware of this time expenditure and the enormous savings potential: with the help of the right property management software and the right processes, the processing time can be reduced to 1 minute, which corresponds to almost 66 days for 1,000 managed units.
Read more about the potential here or take part in our free training webinar take part.