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Yardi Adds Home Depot Access For Improved Contractor Procurement And Invoicing

For property managers and contractors seeking supplies, it’s not always easy to manage the invoicing process and control spend management through accounts payable. A new service from a real-estate management service provider is designed to overcome such issues through a partnership with The Home Depot.

Through the new service, property managers and contractors now may access products from the home-improvement retailer online with the click of a button through an online-procurement system offered through Yardi’s Procure to Pay, a platform designed to automate procurement and invoice processing. The platform streamlines and businesses’ accounts payable processes, enabling them to reduce costs and work more efficiently, while also enabling them focus more on client relations. The paperless service encompasses centralized procurement, invoice processing and payments, and analytic reporting, Yardi says.

Procure to Pay enables Home Depot purchase orders and invoices to flow through an automated, customized online approval workflow, “giving property owners and managers insight into all purchases and ensuring complete purchasing compliance,” Yardi noted in announcing the service. Clients using Yardi’s PayScan service may access Home Depot commercial catalog at no additional cost, and no implementation is required, the company said.

“In addition to online purchasing, registered clients can also walk into any of The Home Depot’s nearly 2,000 locations in the U.S. to make in-store purchases,” Yardi said. “Those purchases automatically update online purchase orders and are invoiced through Yardi Procure to Pay.”

In a statement, J.T. Rieves, The Home Depot pro business vice president, noted the benefits the Yardi deal provides that company’s customers. “Property managers now have a compliant ordering solution with the option of selecting same-day, in-store pickup or even delivery from The Home Depot,” he said. “The Home Depot will leverage its thousands of U.S. locations, vast distribution network and outside sales team to become a strategic supplier of maintenance, repair and operating supplies and building materials for our very important property-management customers.”

Terri Dowen, Yardi senior vice president of sales, also noted the benefits the Home Depot deal provides its property-manager clients and contractors.

“The Home Depot’s impressive catalog of products and resources is a major addition to our national network of partners, and further expands Yardi Procure to Pay to be a true one-stop solution for [maintenance, repair and operations] supplies with fully automated accounts payable,” he said “The Home Depot is widely used in our industry, so automating the procurement process and providing spend management for purchasing at The Home Depot will be of tremendous value to our clients.”

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Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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