A major REIT was experiencing a dip in customer satisfaction levels due to the long wait times for query clarifications. It was unable to address the majority of flux variances on time or meet the tight deadlines for month close activities post the check run due to:
Our expert RRD Real Estate Accounting Services team performed a detailed study of the existing processes and set up new processes. As part of the transformation, the following activities were started mid-month:
Additionally, we reconciled bank accounts on a weekly basis and automated the formatting of monthly work papers. The team also standardized the flux variance comments to expedite month close.
The client was able to increase customer experience and operational efficiencies by: