Over the past few months, the “I” word has been uttered by AP teams everywhere. They’ve experienced inflation personally at the supermarket and gas station. And, many in CRE, multifamily, and other real estate sectors have seen rising costs in their professional lives too, with big increases in utilities, maintenance supplies, and insurance.
In short, they’ve been surrounded by price increases.
While some real estate finance teams have put off projects, scaled back purchasing, and spent more time sourcing products, others have looked to become more efficient. They are turning to AP automation solutions to save time – as well as manage with reduced headcount – by eliminating paper processes and automating them.
But saving time isn’t the only benefit of electronifying the AP processes. Some AP automation software solutions can also decrease hard costs. And this then helps offset some of the rising prices.
Here are three ways AP automation software companies – like Nexus – can help real estate companies mitigate the bite of inflation.