Future Real Estate AP Systems: The Total Integration Life Cycle

Illustrated below is one version (Thomas Coolidge's, CEO of Nexus Systems) of the future of AP Automation in Commercial Real Estate. Automation is the first hurdle real estate companies must overcome when looking to increase efficiency and realize significant savings potential. The next logical step is to integrate the various systems used to create one seamless flow of procurement and payables data. The illustration below helps answer “No” to our question of “Is it still OK to have 5-10 business automation information systems that don’t talk to each other or is this concept of “Integrated Enterprises” for real?” - Discussion question from June 1st, 2006 Realcomm Advisory titled: “Realcomm 2006 - What can YOU Expect?”

The benefits to real estate companies integrating multiple AP-related systems together are:

• At end-of-year or quarterly audits, auditors have instant electronic access to complete documentation of every AP transaction
  
• More efficient and faster procurement cycle times resulting in better service to its tenants
  
• Faster payment processing allows for the capture of previously missed early payment discounts
  
• Continual electronic flow of data ensures reduction of data entry errors and minimizes duplicate orders
  
• Electronic flow of information eliminates lost paperwork and prevents duplicate payments to vendors
  
• Automatic synch of master vendor file ensures that all systems are using the same approved vendor
  
• Elimination of maverick spending and gain of total control of all expenses
  
• Enforcement of companywide spending policy compliance from maintenance technician work orders all the way through to executive approvals