How AP complexities are impacting real estate businesses

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54% of real estate companies believe their biggest AP challenges is manual payment processes

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More than half of AP payments are still made by paper check from majority of real estate companies

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33% of real estate companies have experienced a payment fraud attempt within the past year

Managing increases in complexity as portfolios and volume grow

Accounts payable departments in real estate companies are challenged to process large volumes of payments across multiple locations and ERP systems. While the rest of the world has gone digital, real estate professionals are still stuck behind piles of paper checks. Often, these processes are further complicated by intricate banking relationships and funding requirements.

As companies grow and add new properties to their portfolios, complexity and volume increase. AP teams must also maintain hundreds of bank accounts, payees, and vendor records each year and attempt to keep this information updated and secure across various accounting systems.

Implementing an automated and streamlined electronic payment program can deliver efficiencies, cost savings, and control. But real estate organizations can be challenged to find solutions that address all their critical needs. 

Paymode-X is the AP Automation partner real estate companies need to cut down on complexity and address pain points such as:

  • Manual processes and checks are slow, costly, and error-prone
  • Inability to pay vendors and tenants electronically with remittance detail
  • Challenges implementing and managing distinct ACH and card programs
  • Difficulty integrating payment activity with ERPs and banks
  • Poor visibility and significant fraud risk throughout the AP process

Why Paymode-X?

Paymode-X is used by 150+ commercial real estate and property management companies to automate AP processes. 

How Paymode-x helps real estate companies succeed

Paymode-X enables secure, efficient digital payments for real estate

Paymode-X is trusted by real estate companies across the nation to improve AP efficiency, mitigate the risk of payment fraud, and improve cashflow by realizing new rebate opportunities. This solution enables AP teams to minimize checks, digitize workflows and approvals, and maximize payment automation to vendors, tenants, and individual payees via access to a network of 550,000+ businesses accepting virtual card and ACH payments. Vendor onboarding and bank account authentication services drive increased adoption and security while cutting down on complexity. Paymode-X also reduces internal and external fraud risks to avoid damages resulting from account takeover, business email compromise, and other fraud schemes.

Paymode-X works seamlessly with your ERP and accounting systems and delivers a consistent, secure experience across all payment types to businesses and individuals. Ultimately, AP departments will increase productivity, reduce costs, and increase payment security with 100% automation for B2B and B2C payments. Vendors will benefit from a streamlined AR process with convenient electronic payments and remittance in their preferred format.

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Simplicity instead of complexity

Replace many steps, drawn-out processes with as few as 3 clean, streamlined ones that free up your people for higher-value tasks.

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Security instead of risk

Reduce an enormous amount of liability with our massive network of validated vendors. Plus, no more risk of check fraud.

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Strong relationships with vendors

They gain insight into payment status and timing, as well as access to valuable AR tools.

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Opportunity instead of complexity

Improve margins with early payment discounts, late fee avoidance and cashback rebates

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Insight instead of guesswork

Get comprehensive, audit-friendly visibility into the entire payment process. See the real-time status of any payment in your system

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Growth instead of stagnancy

Grow your business faster while compounding value, not inefficiencies.

Paymode-X AP Automation works seamlessly with a host of real estate ERPs, including:

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Want to learn more about Bottomline's accounts payable automation solutions?

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