by Shane Henson — January 16, 2012—Processing utility payables is often a time-consuming process for property managers of multifamily properties. But with Yardi Voyager, offered through Yardi, a provider of property management software and asset management solutions, managers can save time, labor and money spent deciphering, approving and processing utility payables each month with the automated Yardi Energy Solutions energy management system.
How does it work? Master utility invoices from property utility providers are automatically mailed to a Yardi processing center. Yardi scans the invoices, retains the images in the client’s database, then codes and enters the payable for the client. The invoice is automatically paid with the next check run. Property managers can save significant labor costs while avoiding unnecessary late fees with timely processing of utility payables.
Yardi Energy Solutions also removes additional tasks from property managers’ hands by verifying payables information against more than a dozen exception categories, including consumption spikes and late fees. This step helps identify probable leaks or potential equipment failures, allowing property managers to expedite repairs. All utility invoice auditing, including verification of rates and tariffs, is executed by professional utility auditors.
According to Yardi, audits performed by Yardi Energy Solutions have uncovered utility invoicing errors totaling thousands of dollars, and its clients receive 100 percent of any credits recovered.
