The challenge
Chief Financial Officer Sommer Clayman and her team used the Sage Intacct platform to support Apartment Life’s billing and collections processes but still manually performed a significant amount of A/R work. Each month, two team members would devote a full workday to downloading billing data, creating emails with invoices, sending out reminders, marking accounts as paid, updating bank account information, and creating custom payment plans.
Clayman knew that these efforts weren’t sustainable and that A/R processes would become even more difficult to manage as the company expanded. She and her team began exploring solutions to help ease the organization’s A/R burden.
The solution
Learning about the Invoiced solution at an Intacct event, Clayman and her team realized that they could eliminate much of the manual A/R work they were doing and provide a better payment experience for customers. Plus, with the Invoiced platform’s dashboard and reporting capabilities, the organization would have far more visibility into key A/R metrics and performance.
With the Invoiced solution, the Apartment Life team:
- Created custom statement and invoice templates that align with the organization’s branding
- Established custom dunning cadences, eliminating the need to spend days each month sending out notifications and reminders
- Streamlined efforts for managing installment payments with automated payment plans
- Provided a collections dashboard for regional leaders to keep them informed and on top of their own A/R tasks
- Integrated the Sage Intacct platform seamlessly, eliminating the need to sync data across the two systems manually
“Before implementing Invoiced, we needed to spend so much time manually following up on every unpaid invoice, and we had to manually process every scheduled payment each month. We’ve always been interested in solving these problems but couldn’t find any vendor that could handle every piece of the puzzle like Invoiced does.”
Sommer Clayman, Chief Financial Officer, Apartment Life
The results
Apartment Life operates in an industry known for a relatively slow payment cycle; many organizations don’t begin the dunning process until an account is 60 days overdue. So Clayman was ecstatic to drive a 50% decrease in these accounts within the first quarter of using Invoiced—and to see this performance improvement sustained over time. In addition, she estimates that automating key A/R processes with Invoiced saves her team five to six days of manual effort each month.
“Before implementing Invoiced, we needed to spend so much time manually following up on every unpaid invoice, and we had to manually process every scheduled payment each month,” she says. “We’ve always been interested in solving these problems but couldn’t find any vendor that could handle every piece of the puzzle like Invoiced does.”
The Invoiced platform offers an efficient, professional payment experience for Apartment Life customers via a branded online portal. Users can easily view and pay bills, manage payment methods, check installment plan details, and more without tying up Apartment Life staff.