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Strongroom Solutions

Strongroom Solutions has been a leader in the HOA space for AP solutions since 2007.

Already a customer? Reach us here: 1.877.280.7252

Strongroom + AvidXchange

(June 17, 2015) AvidXchange, leading provider of accounts payable and payment automation solutions for midsize companies, today announced that the acquisition of Strongroom Solutions has been completed. The merger, originally announced last month, will provide AvidXchange’s clients in the real estate space with a more comprehensive solution for Home Owner Associations (HOA), further strengthening the company’s position as the leading payment provider to the real estate market.

Strongroom's Payable Lockbox is Now Part of the AvidXchange Portfolio

The Payables Lockbox solution was designed specifically with the small and midsize business (SMB) customer in mind. As a leader in the HOA space, Payables Lockbox is another great solution that we are able to offer HOAs that meet their unique needs Payables Lockbox centralizes and processes paper and electronic invoices at a single location. We will perform some of the data extraction for you, such as association, vendor, invoice number, amount and relevant dates. This leaves managers with the simple task of reviewing the invoice image online, assigning expense coding, and approving it for payment. Many board members today want to be included in the approval process for invoices, as they are often the final signors. With Payables Lockbox, board members no longer wait for the board meeting for approval. They simply log on securely to the Payables Lockbox site, review the invoices awaiting their approval, and authorize them for payment.

We have been able to free up bookkeeping personnel time, as well as time for our property managers. Board members appreciate access to view invoices when needed.

Susan Rodriguez, CFO of Campus Walk

Industries

Payables Lockbox has been the leading AP solution for HOAs and property managers since 2007.

Home Owners Association

Community Association managers have been using Strongroom™ Payables Lockbox since 2007 to solve the following accounts payable (AP) problems:
- High volume of invoices
- Invoice storage and management
- Board Member approval requirements for invoices
- Limited payment options
- Accounting system integration

Property Management

Managing accounts payable (AP) is an important, yet cumbersome, role for real estate managers with high invoice volume per property. Maintaining an invoice database and making sure all invoice approvals are made can be equally challenging.

Payables Lockbox enables management companies to outsource the extraction, sorting, and processing of invoices to a central location – leaving managers and controllers with the simple process of logging into our SaaS-based application, reviewing the invoices, and authorizing them for payment.

Partners - Financial Institutions

BB&T

MUFG Union Bank, N.A.

Sunwest Bank of California

Texas Capital Bank

Western Alliance Bancorp

Mutual of Omaha Bank

Executive National Bank of Florida

NewFirst National Bank of Texas

Pacific Premier Bank

Metro Phoenix Bank of Arizona

Cadence Bank of Texas