{"id":744,"date":"2019-04-02T22:43:00","date_gmt":"2019-04-02T22:43:00","guid":{"rendered":"https:\/\/blog.isocietymanager.com\/?p=744"},"modified":"2021-10-12T21:18:01","modified_gmt":"2021-10-12T15:48:01","slug":"still-waiting-on-residents-to-pay-monthly-dues-isocietymanager-is-the-solution","status":"publish","type":"post","link":"https:\/\/factech.ai\/blog\/still-waiting-on-residents-to-pay-monthly-dues-isocietymanager-is-the-solution\/","title":{"rendered":"Still waiting on residents to pay monthly dues? iSocietyManager is the Solution"},"content":{"rendered":"<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">iSocietyManager is a real estate and facilities management software suite for residential and commercial real estate.<\/span><span style=\"font-weight: 400;\"> One of the biggest challenges in managed societies across India is to collect monthly dues. This remains a challenge due to manual work needed to post monthly bills which is error-prone and then multiple reminders that residents need to pay dues. Today, we describe in detail one of the most used features on our software suite which saves our largest customers lakhs of rupees in manpower every year and also reduces delinquency rate by almost 90%. Billing &amp; Accounting module in iSociety Manager is used by finance teams of societies to automatically generate and post invoices as accounting transactions. <\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">In a world where #Amazon and #Flipkart are working hard to remove every friction to help customers open their wallets, RWA and facilities management are stuck in the 90s when it comes to collecting monthly dues. Often residents are left waiting on a physical invoice, errors in accounting are rampant and residents forget to pay on time. iSociety Manager takes this pain out by automating the whole process for both facilities management as well as customers.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">iSocietyManager has inbuilt integration with SAP and other Enterprise resource planning(ERP) tools through web services to automate posting of Bills &amp; Payments. This reduces the effort for managed societies by automatically posting bills at a set time every month and mitigates human errors in accounting and reconciliation in SAP. This feature is deeply integrated with the ERP system to give the flexibility to finance teams to set parameters based on their needs. <\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">This idea was conceived during a discussion with the accounting team at <\/span><i><span style=\"font-weight: 400;\">Jaypee Group<\/span><\/i><span style=\"font-weight: 400;\">. The accounts team described their major challenges related to collecting monthly dues as follows: <\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-size: 14pt;\"><b>Time Consuming process: <\/b><span style=\"font-weight: 400;\">Posting to SAP was a time-consuming manual process at the time due to the high volume of monthly bills. <\/span><\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-size: 14pt;\"><b>Error-Prone:<\/b><span style=\"font-weight: 400;\"> Bills are prone to errors due to human involvement in the reconciliation process.<\/span><\/span><\/li>\n<li><span style=\"font-size: 14pt;\"><b>Cost: <span style=\"font-weight: 400;\">Team spent weeks working on this every month. <\/span><\/b><\/span><\/li>\n<li><span style=\"font-size: 14pt;\"><strong>Stale Data<\/strong>: <span style=\"font-weight: 400;\">Often, due to the lengthy process, by the time current bills were posted, there were already new bills available in the system.<\/span><\/span><\/li>\n<li><span style=\"font-size: 14pt;\"><strong>Not Scalable<\/strong>: <span style=\"font-weight: 400;\">Units were expected to increase exponentially in the near future and teams were not set up to scale. <\/span><\/span><\/li>\n<\/ul>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">iSocietyManager team after multiple meetings with the SAP team at Jaypee came up with a solution to auto-post bills using web-services. Although Jaypee team insisted on SOAP-based approach, after a few technical interactions and demonstrating the benefits of newer REST Webservices, REST was chosen. <\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The first phase of this solution enabled invoice posting automation to take the pressure off the team. In this solution, our team enhanced iSocietyManager current functionality to include: <\/span><\/p>\n<ul style=\"font-weight: 400;\">\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-size: 14pt;\">SAP \/ Customer Code <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-size: 14pt;\">Charge Codes and their respective GL Codes<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-size: 14pt;\">Tax Codes and their respective GL Codes<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-size: 14pt;\">Publish REST API to the third party with a secure connection.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Once deployed, it increased efficiency in the overall system by 50%. We initially synced data biweekly and increased the frequency to daily after 4 months of beta testing. <\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Jaypee accounts team has benefited a lot due to this automation. Few noted one are:<\/span><\/p>\n<ul>\n<li><span style=\"font-size: 14pt;\"><b>Increased Efficiency: <span style=\"font-weight: 400;\">Savings of 84 man hours that were earlier spent in posting bills and payments in SAP.<\/span><\/b><\/span><\/li>\n<li><span style=\"font-size: 14pt;\"><strong>Reduced Errors:<\/strong> <span style=\"font-weight: 400;\">There is no human involvement in reconciliation, hence reducing errors.<\/span><\/span><\/li>\n<li><span style=\"font-size: 14pt;\"><strong>Scalable<\/strong>: <span style=\"font-weight: 400;\">This solution helped scale the team to support 10s of thousands of units without the need for more manpower.<\/span><\/span><\/li>\n<li><span style=\"font-size: 14pt;\"><strong>Real Time<\/strong>: <span style=\"font-weight: 400;\">SAP is updated automatically to provide most updated records of collections, billings etc.<\/span><\/span><\/li>\n<li><span style=\"font-size: 14pt;\"><strong>Easy access to delinquency data<\/strong>: <span style=\"font-weight: 400;\">System can generate updated reports for delinquent units and unpaid dues at any time. <\/span><\/span><\/li>\n<\/ul>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">We have since extended this new feature to many other societies and have included Tally as another alternative ERP. As always, delighting customers remains our top priority at iSocietyManager. \ud83d\ude42 <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>iSocietyManager is a real estate and facilities management software suite for residential and commercial real estate. One of the biggest challenges in managed societies across India is to collect monthly dues. This remains a challenge due to manual work needed to post monthly bills which is error-prone and then multiple reminders that residents need to<\/p>\n","protected":false},"author":4,"featured_media":745,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[142,123,144,408,32],"tags":[790,301,70,785,789,792,71,72,791,69,784,302,787,788,786],"post_folder":[],"class_list":["post-744","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accounting","category-billing","category-erp","category-society-management-software","category-society-management-system","tag-best-billing-application","tag-best-billing-software","tag-erp","tag-erp-integration","tag-how-to-integrating-sap-with-your-billing-software","tag-increase-timely-collection-maintenance-recovery","tag-payments","tag-recovery","tag-rest-billing-sap-api-isociety-manager","tag-sap","tag-sap-integration","tag-society-billing-software","tag-why-customers-first-choice-is-isocietymanager","tag-why-isociety-manager","tag-why-jaypee-trust-isocietymanager"],"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Still waiting on residents to pay monthly dues? iSocietyManager is the Solution - Facility Technology<\/title>\n<meta name=\"description\" content=\"Factech provides the complete suite for real estate, housing society and facility management system. 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