Automated procurement, invoice processing and vendor management platform handles millions of transactions worth billions of dollars
SANTA BARBARA, Calif., May 18, 2018 – Yardi® Procure to Pay consolidates building supply and services procurement, streamlined invoice processing and simplified vendor management into a single connected solution. Today, Yardi released data that illustrates the real estate market’s adoption of this unique platform made up of three components: Yardi® Marketplace™, Yardi® PAYscan™ and VENDORCafé®. Noteworthy examples of Yardi Procure to Pay growth over the past 12 months include:
- Client and transaction growth of over 30% year over year, with more than 1,800 clients using Yardi Procure to Pay
- Processing of more than 30 million transactions annually worth billions of dollars with Yardi PAYscan, which turns invoices into electronic transactions and automates workflow across the approval process
- Over 100% growth in the number of clients utilizing Yardi Marketplace, an online procurement and invoice processing platform for maintenance, repair and operating (MRO) supplies that enables hundreds of millions of dollars in spend for Yardi Procure to Pay clients
- 400% client base growth and a 350% increase in vendor participants for VENDORCafé, which centralizes product and service vendor information in a single system of record
Built into the Yardi Voyager property management and accounting platform, Yardi Procure to Pay saves money on invoice processing costs, MRO spend, paper storage and shipping. Mobile apps streamline purchasing and purchase order and invoice approval. Clients can also add Yardi® Bill Pay™ to complete the automated procure to pay lifecycle by letting Yardi manage vendor payments.
“We are thrilled with the broad industry adoption and acceptance of Yardi Procure to Pay. We are committed to creating a completely seamless process for our clients to source, purchase and pay for the goods and services needed to manage their real estate assets,” said Akshai Rao, vice president of Procure to Pay for Yardi.
Read about client successes on Yardi Procure to Pay.
Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi is based in Santa Barbara, Calif., and serves clients worldwide. For more information on how Yardi is Energized for Tomorrow, visit yardi.com.