Unlock Efficiency and Accuracy: 3 Reasons to Add Yardi Bank Reconciliation Automation
In the fast-paced world of property management, every minute counts. Manual processes can bog down teams, introduce errors, and eat into precious time that could be better spent on strategic initiatives. Enter bank reconciliation automation with Yardi Voyager—a game-changer for property management companies looking to streamline operations and boost accuracy. Here are three compelling reasons why you should consider adding Yardi Bank Reconciliation Automation to your workflow.
1. Time Saved, Efficiency Gained
Bank reconciliation automation dramatically reduces the time and effort required to reconcile accounts manually. By seamlessly importing BAI2 files from the bank into Yardi, the system can flag all matching transactions as reconciled within minutes. At BC Solutions, our clients using this process see between 60-80% of their transactions automatically clear each month, translating to significant time savings. Imagine the hours you could redirect towards high-value tasks like strategic planning and customer service.
2. Increased Accuracy, Reduced Errors
Manual bank reconciliation is prone to human error, leading to discrepancies and inaccuracies in financial records. These errors can be difficult to identify and rectify as they quickly become buried in new transactions. Automating the majority of bank reconciliations decreases the margin of error, allowing accounting teams to focus directly on exceptions. By minimizing manual intervention, you can ensure that your financial records are more accurate and reliable.
3. No Additional License Fees
One of the most attractive aspects of Yardi Bank Reconciliation Automation is that both BAI2 imports and automatic bank reconciliation functions are included in the core Yardi Voyager license. While many banking partners allow a nightly export of this file for free, certain banks may charge for this automation. In such cases, the BAI2 file can typically be obtained manually from the banking portal at no additional cost. The BAI2 file can be run for all bank accounts at once to maintain efficiency, and Yardi will separate the accounts accordingly when reading the file. This ensures you can still reap all the benefits of clearing transactions without incurring additional costs.
In conclusion, bank reconciliation automation is a high-impact, low-cost, quick win for property management companies. Yardi’s built-in process saves significant time and effort while simultaneously increasing the accuracy of bank reconciliations. At BC Solutions, we have built strategic partnerships with banking institutions to expedite the setup of this process for our clients. Unlock the potential of your property management operations with Yardi Bank Reconciliation Automation and experience the difference it can make for your team’s efficiency and accuracy.
BC Solutions is dedicated to helping property management companies streamline their operations with cutting-edge technology and expert guidance. Contact us today to learn how we can help you implement Yardi Bank Reconciliation Automation and other efficiency-boosting solutions.
댓글