Business Function | Finance & Accounting

Ensuring financial accuracy, transparency and compliance

Condominium administration.

The increasing value of the land and factors such as security are some of the reasons why more and more people choose to live in buildings and private condominiums in which they must pay common expenses. For expedited collection, detailed information on the costs involved must be readily available and communicated in a timely manner.

Example

An important company dedicated to the administration of condominiums manages such a high volume of information on the buildings in which it provides its services, that it has seen the need to centralize and reorganize it in order to properly collect and allocate the resources of each community.

Challenge

On the one hand, increase the accuracy and clarity of the data, reduce the risk of error and increase the collection rate. On the other, reduce the number of hours that the administrative staff invests in updating the data and making the collection.

Solution:

The real estate agency, using its MasterBase® account, designed a form in which each administrator records the details of the condominium and the details of the services provided, and enters the invoice. Through an automated process this data is sent to the company's Management and its Accounting department. Once the invoice has been entered and approved, another automated process establishes the payment term and sends the payment order to the Treasury with the date defined in each case.

A third process enters the database of each condominium the amount to be paid for the services provided and, at the accounting close of the month, calculates the amount that each resident must pay specifically, according to the dimensions of their home, and sends them by email a personalized message with the attached payment document.

Start to automatized

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MasterBase®

MasterBase® Process Automation Platform helps organizations transform information-intensive business processes, reduce manual work and errors, minimize costs and improve customer engagement.

We assist companies, regardless of their size, industry or business function to ease implement our automation process solutions to deliver dramatic results that mitigate compliance risk and increase competitiveness, growth and profitability.

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