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Solution Spotlight
How much is your manual accounts receivable processing costing you?

If you still generate statements, manually prepare deposits and personally deliver the deposits to the bank, you are wasting a significant amount of time and money that can easily be saved.

As the popularity of electronic bill payment for consumers grows, it is easy to understand how tenants will demand the same functionality in paying their rent. It is also easy to understand how your organization can save significant time and money by automating labor intensive AR Processing procedures.

The benefits of SKYLINE ACH (automated clearing house) for receivables for property management companies is clear. Property managers eliminate data entry (and data entry errors) and eliminate time consuming trips to deposit checks at the bank. In addition, using SKYLINE ACH Receivables, rent payments are instantly posted to the property's account within SKYLINE resulting in immediate cash flow improvements.

The Benefits of SKYLINE ACH Receivables

Using SKYLINE ACH Receivables offers significant benefits: improved cash flow, reduced costs, improved service level to tenants and gains in operational efficiency.

  • Improve Operational Efficiencies and Cash Flow: A check in hand is not synonymous with cleared funds in the bank. Checks take time to cash: time for delivery, endorsement, presentation to the bank, and additional stopping points in the check-clearing process. SKYLINE ACH Receivables electronically records receipts, automatically posts the tenant's account and seamlessly creates a batch file which is sent to the property's financial institution over a secure internet connection. The funds are then automatically deducted from the tenant's account and immediately deposited in the property's account.

  • Reduce Costs: Eliminate much of the paperwork and human interaction associated with checks. Paper, postage, and trips to the bank for deposits are eliminated. Fewer errors occur because of the reduction in data entry and human handling of the check-clearing process.

    • Example of how costs are reduced: A 500 unit building can require up to 80 hours per month of routine work and follow-up to collect and post rent. Using SKYLINE ACH, approximately 60%, or 48 hours, of this time could be saved. If the average labor cost for the manual handling of this process is $20/hour, the total savings is $1,000 per month or $12,000 per year.

  • Improve Service Level To Tenants: Tenants value a payment option that is reliable, accurate, timely and confidential. Using SKYLINE ACH, tenants no longer need to be reminded to pay, no longer need to write checks, deliver checks or pay for postage.
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Elissa Z. Grossman
Director-Sales, Marketing and Business Development

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