HH Red Stone is a fast-growing property management business with a portfolio of off-campus student housing near top-ranked universities with large student populations. Offering upscale amenities and high-quality finishes, HH Red Stone is dedicated to giving students a safe and comfortable place to call home.
Ella Hu is a corporate accountant at HH Red Stone, working alongside accountants who handle the finances for the company’s 17 properties across the United States. She is committed to making operational improvements within her department to help streamline processes and increase efficiency.
HH Red Stone relied on manual invoice and supplier payments, which worked until rapid expansion made these processes unstainable. Invoices were often misassigned, causing delays—especially when accountants were on vacation. Manual payment processing was slow and error-prone, leading to supplier dissatisfaction and $45,000 in annual late fees. Audits were also difficult due to misfiled documents and a lack of a clear audit trail. These inefficiencies highlighted the need for a more automated and streamlined payment system.
HH Red Stone implemented AvidXchange to automate invoice management and payment processes, streamlining accounts payable. Using OCR and machine learning to digitize helps to reduce manual data entry and improve approval workflows. Customizable workflows ensure invoices are correctly assigned, with proxies in place when needed, while digital notes help to track decisions. Payment automation offers multiple supplier payment options and creates a clear audit trail for easier compliance. This modernization enhances efficiency, reduces errors, and improves supplier relationships.
AvidXchange’s AI-powered invoice capture feature has reduced data entry time and internal workflow delays for HH Red Stone. Payment automation increased processing speed by 64%, nearly eliminating late fees and improving supplier satisfaction by 30%. “AvidXchange ultimately saves time and streamlines workflows,” said Hu, emphasizing the benefits of automation. Inaccuracies dropped by 85% due to reduced human error, which ultimately led to more accurate payments and fewer time-consuming corrections. Additionally, the team can now maintain compliance more easily, as AvidXchange automatically generates a detailed transaction record for each payment.
"AvidXchange offers a great product that makes our team happy. Our suppliers are paid on time, so they’re happy. And they’re providing services for our tenants, which makes them happy."
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