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How a Real Estate Firm Improved Invoice Processing Time by 60%

Telecommunications
Real-Time Compliance Tracking & Payment Automation

Table of Contents

Overview

A mid-sized construction company processing a high volume of invoices each month encountered significant inefficiencies in its accounts payable (AP) operations.
The reliance on manual workflows resulted in:

Delays in invoice approvals, often stretching across multiple business days. 

Extensive administrative hours spent on data entry and payment tracking. 

Cash flow constraints due to late payments and limited financial oversight. 

Strained vendor relationships and compliance risks from misplaced documentation. 

To address these challenges, the company adopted Zenwork Payments, cutting processing time by 60% and improving financial oversight.

Industry Context

The construction sector operates under unique financial constraints, requiring precise cash flow management and efficient payment processes. Some key trends include:

Key challenges included:

  • Reliance on Manual Processes: 70% of construction firms still process invoices manually, increasing the risk of errors and late payments (IntelliChief, 2024)
  • Cash Flow Challenges: With profit margins typically ranging from 5-10%, timely payments are essential to avoid penalties and take advantage of early payment discounts (Deloitte, 2024)
  • Workforce Shortages: The industry faces a shortfall of 650,000 workers, forcing companies to rely on automation to maintain productivity (AvidXchange, 2024)
  • Rising Material Costs: While some prices have stabilized, supply chain disruptions continue to impact project budgets and schedules (AvidXchange, 2024)

Challenges

Slow Approval Times

  • Invoices required multiple levels of review, causing delays in vendor payments and missed early-payment discounts.

Administrative Burden

  • Accounts payable staff spent significant time on manual data entry, invoice reconciliation, and payment tracking, increasing the likelihood of human errors.

Lack of Real-Time Financial Oversight

  • Project managers had limited access to invoice statuses, resulting in unforeseen cash flow disruptions.

Vendor Trust Issues

  • Late payments weakened supplier confidence, leading to less favorable payment terms and disruptions in material supply.

The Breaking Point

As the company expanded, the volume of invoices grew, making the inefficiencies more pronounced.

Approval delays disrupted cash flow, affecting project schedules.

Manual tracking created inconsistencies, raising compliance concerns.

Hiring additional staff was not cost-effective, prompting leadership to seek a scalable solution.

With these concerns escalating, automating AP processes became the logical next step.

The Solution: Zenwork Payments

Automated Invoice Processing

  • Zenwork Payments uses optical character recognition (OCR) eliminated manual data entry, reducing input errors by over 40%.
  • Invoices were automatically matched with purchase orders, ensuring accuracy.

Approval Workflow Automation

  • Role-based routing ensured that invoices were sent to the appropriate approvers without unnecessary delays.
  • Managers could approve invoices remotely from mobile or desktop platforms.

Real time Compliance Tracking

  • Using the Zenwork Payments, Payment Tracking Finance teams gained instant access to invoice statuses, eliminating bottlenecks and ensuring transparency in payment.

Approval Workflow Automation

  • Zenwork Payments integrated effortlessly with QuickBooks, Xero, Bill.com, and Sage, providing accurate financial reporting. 

Results: Hassle-Free Payments & Compliance

Metric Before Automation After Automation Improvement
Invoice Approval Time 5-7 days 2-3 days ~60% faster
Manual Data Entry Hours 100+ per month 30-40 per month ~60% reduction
Payment Processing Delays Frequent Minimal Significant reduction
Audit Preparation Time Weeks Immediate Access 75% faster

Reduced invoice processing time by 60%, ensuring faster vendor payments.

Lowered administrative workload, cutting manual data entry hours significantly.

Improved compliance tracking, reducing audit preparation time by 75%.

Strengthened vendor relationships, leading to better contract terms.

Enhanced cash flow management, allowing for improved forecasting and planning.

Key Takeaways 

Strategic Decision-Making

  • Leadership prioritized automation as a long-term solution rather than increasing staffing.

Adoption Challenges Addressed

  • Employees were trained to use the new system, easing the transition.

Cross-Team Coordination

  • Finance and project teams aligned their workflows, improving overall efficiency.

Stronger Financial Oversight

  • Greater visibility into cash flow allowed for better planning and decision-making.

Future Considerations

With Zenwork Payments, the company plans to:

Expand automation to other financial workflows, including procurement and contract management.

Improve supplier negotiations by leveraging its stronger financial position.

Further refine cost forecasting, ensuring better cash flow planning.

By eliminating inefficiencies in accounts payable, the firm strengthened its financial operations, improved vendor relationships, and positioned itself for long-term stability.

Citations

Deloitte (2024): Construction firms are adapting to workforce shortages and inflationary pressures through digital transformation (Deloitte, 2024).

AvidXchange (2024): 93% of construction firms are facing labor shortages, which impacts project timelines (AvidXchange, 2024).

Commerce Bank (2024): AP automation is helping firms reduce invoice processing time and payment costs (Commerce Bank, 2024).

IntelliChief (2024): Manual AP processes in construction are creating payment delays and financial inefficiencies (IntelliChief, 2024).

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