RPA in Property Management

There is a lot of paper-work and huge process in the matters related to property. The real estate industry is growing and there is a need of hiring a property management software. It is not a luxury thing now it is a necessity. One has to be very careful in the matters of property transfer. One single mistake and there could be a huge loss to one party. Nobody would want that to happen with them. And not to mention if you take law support in such matters there could be huge money, time and mental peace drainage. 

We have previously discussed in our blogs about RPA. It is the technology that configures computer software or a robot to stimulate human actions. RPA captures data and manipulates applications just as humans do. VNC Digital Services, one of the finest RPA Companies in India, highlights the basic points how RPA can be helpful in revenue management.

How RPA can be helpful in Revenue Management?

1- Offer refunds to the Home Owners

There are times when payment issues arise and the realtor has to face this issue where he has to reimburse some over-payment done. There can be a panic mode when a situation arises out of nowhere. Then, lengthy calculations. But RPA can help the accounts team to validate and adjust the amount. It can later initiate the payment to the homeowner too.

2- Sharing bank account statements

Isn’t it too stressful, downloading all the bank statements from different banks, comparing and reconciling them. The process won’t be easy. RPA can help by uploading the downloaded bank statements on to a shared drive or into a financial application for reconciliation.

3- Coupon management

It is easy to lure clients by offering them certain discount. RPA will create a coupon for new homeowners. RPA can help generating a coupon, accepting new such requests and processing them. Can later help in the replacement and reimbursement process. 

4- Updating the bank account information

There can be deadly issues if there is one wrong information uploaded. A single error like bank account number or the account holder’s name in the proprietary tool of the property management company. RPA will check the information with the bank statements and send it for correction. 

5- Correcting the errors in the payment transfers

Supposedly, you made a transfer to the wrong account. The banking team will inform the AR team. RPA will validate it. Get it done correctly. It intimates the bank to do journal entries and transfer funds.

With RPA on realtor’s side, they can operate successfully. Since, it involves so much of money transfer, not to forget hefty amounts, realtors can surely make use of RPA well. They can enjoy the growth of their revenue rather than paying attention to these little errors. Let RPA do its thing. Get RPA Consultant at VNC Digital Services and grab the opportunity to grow your business.

Read our one more blog which is related to RPA Benefits in Banking Industry