Real estate management co. needs real finance transformation​

Picture this...

You’re one of the largest property management companies, overseeing the books for more than 1,250 discrete entities. As part of your services, you also oversee more than 3,500 bank accounts across 100+ different financial institutions. You currently employ a 200-person staff of controllers and skilled accountants scattered across the US. But you believe your model is inefficient; you’re not using your technology to its full potential, and you seek a transformational initiative to uncover hidden opportunities for EBITDA enhancement. ​

You turn to Accordion.

We partner with your team to launch a full-scale transformation that streamlines property accounting, treasury, and technology. We execute in 3 workstreams:​

Workstream 1, focused on property accounting. We:​

• Standardize major accounting activities (procure-to-pay, order-to-cash, record-to-report) across 8 discrete regions. ​
• Redefine the onboarding playbook, integrating feedback from various business functions.​
• Standardize accounting operations for scalability and visibility, and lead the outsourcing vendor RFP process, including RFP creation, Q&A sessions, and vendor selection.​

Workstream 2, focused on treasury. We: ​

• Conduct RFPs with four national banks to consolidate over 3,500 bank accounts and establish long-term relationships.​
• Create a hybrid approach for partner banks, increasing ECR and incorporating an interest rate component for incremental revenue.​
• Develop a bank account transition plan consolidating multiple institutions into four partners, and implement EDI for visibility into fees/rates across all banks managed.​

Workstream 3, focused on technology. We: ​

• Integrate payroll data from PEO to various systems, eliminating manual data transformation and reducing payroll timing. ​
• Optimize Concur setup with enhanced connectors for bi-directional data exchange and automation.​
• Automate invoices and payments by integrating NetSuite with property management systems.​
• Enhance NetSuite bundles for ERP and Domo integration, and create protocols for duplication detection, error handling, and transaction audits. ​

Your value is enhanced.

You successfully transform your accounting function across all regions, which results in:​

• The execution of an RFP and bank migration process that results in $4M in incremental revenue through the increase of ECR and interest rate within the four preferred banks.​
• The standardization of the accounting process, bringing enhanced visibility into the month-end close.​
• The integration of disparate systems, mitigating the manual accounting work that was previously needed during the close process.​
• The creation of the outsourcing RFP, completed in 30 days.