As some of you may know, DEPM has begun implementing our new AvidXchange online invoice approval system. AvidXchange is a web-based paperless invoice management system designed to automate the accounts payable approval and payment process.
This system provides Board members, Account Executives, Financial Analysts and AP managers with flexible approval controls, powerful reporting and full visibility of invoice history. Other benefits include eliminating paper invoices and the transit time wasted waiting for signed and approved invoices to be delivered via messenger or mail. All users have real-time access to the status and approvals of payments 24/7, and receive all payment details for easy tracking, research, and reconciliation. Access to the system is password protected for your security and can be used on any internet enabled device. No payment is made until it receives final approval from all parties as determined by the specific property based rules.
To date, DEPM has transitioned over 100 buildings to this new system and so far the response by Boards and other users has been extremely positive. Within the next six months we anticipate that all of DEPM’s managed buildings will be using the system. If your building has already been transitioned please let us know if you have any questions or issues. If you would like to fast track your property and get online in 2015 please contact our Director of Accounting Operations Mr. Matthew Cleary at 212-692-8384 or firstname.lastname@example.org. Join the online invoice revolution and eliminate office visits by the super/resident manager, wasting time at board meetings, or waiting for transit of invoices in the real world thus saving time and money, and helping to protect the environment.