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Structure Properties reconciled expenses in 7 days with Fyle
Headquarters:
San Francisco, USA
Employees:
10-50 employees
Industry:
Property Management
Construction Management
Leasing Services
Challenges at Structure Properties
For Finance:
- Company followed completely manual and Excel based reconciliation methods which were cumbersome and time consuming.
- Multiple property managers would create expenses for Different properties on the corporate card. The finance team had to follow up with each of them to understand the spend and its purpose.
- Finance team had to dedicate hours just to match expenses of a single card and separate personal spends from company spends.
- The process of moving credit card data to their accounting system took more than a month.
For employees:
- The property managers often could not remember the purpose of the spend and would be unable to classify them.
- Constant follow-ups by the finance team affected productivity.
The other solutions forced us to change our processes instead of automating it. We wanted something flexible and Fyle was just that.
David Mehan
CFO
Why Structure Properties chose Fyle?
The goal was to transition from a totally manual and traditional expense management process to a modern and automated system.
The finance team spent productive hours chasing employees to fill in the missing gaps like purpose of the spend. They also manually reconciled all the corporate card expenses.
With Fyle, David believed the current expense management challenges could be tackled with ease for both, the finance team and on-ground employees. This would lead to immediate positive impact on the cash flow.
Key features used:
Mobile app
Project based tracking
Corporate card reconciliation
Expense tracking through Gmail
It used to take us hours to match corporate card expenses with their receipts. But now, Fyle has helped us cut it down to just 20 minutes!
Corie Phillips, Accounting Manager at Structure Properties
Powerful Mobile App
The Fyle mobile app is an easy to use all-in-one solution to their expense tracking needs. They upload receipts using Instafyle, create or match card expenses and submit reports on the go.
Learn more about tracking expenses easily
Corporate Card Reconciliations
Their credit card expenses were automatically reconciled with Fyle. Their employees simply uploaded receipts and Fyle would auto-match them to the appropriate expense and card transaction.
Learn more about corporate card reconciliationsProject Based Tracking
The finance team mapped project/property based expenses. The real-time visibility helped predict cost estimates and keep track of the project/property spends.
Learn more about project based tracking
Track Expenses from Gmail
Employees easily submit expenses and attach receipts directly from the Gmail mobile app and the browser - all with a single click.
