TOPS Software’s New Vendor Portal Functionality Helps Community Managers Reduce Costs, Process Vendor Payments Faster
CLEARWATER, FLA. (PRWEB) MAY 4, 2021
TOPS Software, LLC, the leading provider of community association management (CAM) software, announced VendorAlly, a new TOPS [ONE] capability that automates the accounts payable process for vendors that work with community and homeowner associations.
Factoring in labor, communication delays, and the potential for human error, it can cost as much as $40 to process a single vendor invoice manually. Additionally, when processed manually, vendors have limited visibility into the payment status of their invoices.
With VendorAlly from TOPS, vendors can effortlessly submit invoices and any required attachments directly to community property managers using TOPS [ONE]. Vendors can also manage insurance and contact information across all communities they work with and have complete visibility when payments can be expected.
For Community Managers, VendorAlly can easily surface invoices through the TOPS [ONE] AP Inbox. Invoices can be quickly reviewed, approved, rejected, or returned if additional supporting materials are required to process payments. Vendors are immediately notified every time an action is taken on specific invoices.
Fidelity Management Services which manages 3,000 homes just outside of Los Angeles, California, was one of TOPS’ first clients to implement VendorAlly’s AP Automation service. “It’s a lot of time off our table where we can concentrate more on the management of the community association rather than doing paperwork,” Melanie Barkodarian, Fidelity Management Services’ CFO said. Having vendors submit invoices takes about 75% of the labor time away from the HOAs, Melanie said.
“With VendorAlly, TOPS Software continues to drive innovation for community associations and property management companies,” said TOPS President and CEO Mike Hardy. “No other property management software provider is offering a full end to end AP management solution. The best part is that we are offering this service at no charge to TOPS [ONE] users. With VendorAlly, TOPS delivers on our goal of helping community associations and property management companies reduce costs and be more efficient.”
ABOUT TOPS SOFTWARE
TOPS Software is a team of people dedicated to revolutionizing HOA Management through superior technology and services. TOPS unifies all aspects of the HOA with our [ONE] SaaS platform. [ONE] provides a sense of community through transparent accounting practices, modern technology, and award-winning customer service. TOPS applications are used by thousands of organizations to manage millions of homes across the United States. Learn more about TOPS at topssoft.com or call us at 727-758-3215.