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Shea Properties Case Study

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Excerpt

Shea Properties, a property development and management firm, is known for its unique approach to transforming land into premier living, working, and shopping environments. For over 30 years, the company has thrived; Shea currently owns and operates thousands of apartment units and millions of square feet of commercial space. However, years of growth has come with increasing expenses.

By mid-2009, Shea’s Accounts Payable [AP] operations had become increasingly costly and time-consuming to manage. Over 60,000 invoices per year – from 1,800 active vendors supporting 75 locations – were received, processed, paid and recorded through primarily paper-based and manual methods. This manual system was problematic…