News on the Block | Sarah Taylor
Grosvenor Systems has today announced a tie-up with Xenith to provide a bespoke property management solution that will boost efficiency savings for customers, spanning property managers, owners, block managers and managing agents.
The solution has been designed specifically for users of Propman, Grosvenor Systems’ leading property management and accounting system. By incorporating Xenith’s document management and intelligent workspaces services into Grosvenor System’s platform, the efficient new invoice management process has been created in response to customer demand.
According to data from Xenith, inefficiencies in property management processes account for 44% of time wasted during the workday for the industry, with manual data entry a key source of frustration for employees.
Inefficiencies can also impact businesses’ ability to scale up, with manual, lengthier methods found to be 42% more expensive. In fact, Grosvenor System’s 2021 client survey found that financial controllers and partners in the property industry would prefer employees be freed up to focus on more value-add work.
As part of our ongoing evolution of our offering to our customers, we are delighted to be able to provide a bespoke property management solution to our Propman users, in response to demand. Our customers and employees alike can now enjoy the benefits of the efficiency savings provided by the new invoice management system, which is now live.
— Sarah Taylor, Managing Director, Grosvenor Systems
In response to this demand, the solution aims to improve employees’ work satisfaction by removing the need to manually log invoices.
The AI software can scan invoices and transfer data automatically to Propman, reducing the risks of missed deadlines and improving data capacities. Savings for users include processing a single invoice 2.5 times faster.
Grosvenor Systems’ tie-up with Xenith follows on from its recent partnership with Spike Global to provide the first complete end-to-end service in the build-to-rent market.
At Xenith, our mission is to help clients work more effectively using emerging technologies that provide a competitive advantage. We are delighted to partner with Grosvenor Systems as they lead in the property management systems market space. We look forward to helping their ongoing evolution of the already impressive Propman solution. Replacing tedious manual data entry tasks for invoices that produce errors and wasted time with a bespoke intelligent AI-driven solution doubles productivity and hugely benefits employee satisfaction. It's great to help Grosvenor and its clients win the day, every day.
— Cassie Hill, Senior Client Relationship Manager, Xenith
Source: News on the Block
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