Hello Syndic centralises and pays its invoices in 1 hour

HELLO SYNDIC CENTRALISES AND PAYS ALL ITS INVOICES IN JUST AN HOUR A WEEK

: Mikael Asseraf, co-founder

: Hello Syndic

: Paris, Lyon, Bordeaux, Toulouse and Lille

: Real estate

: 35

: Centralisation of invoices

With offices all over France, Hello Syndic receives around 100 supplier invoices a month. Centralising and tracking payments is hard work! To simplify its process and ensure better financial management, Mikael, the company’s co-founder, has rolled out Libeo.

HELLO SYNDIC, A NEW-GENERATION MANAGING AGENT

Hello Syndic is a new-generation managing agent for jointly owned properties. It develops management tools in-house for co-owners. Its aim? Revolutionising the profession of managing agent, a mandatory partner for jointly owned properties in France since 1965.

Hello Syndic - some figures:

35 employees
3-fold growth each year
Present in 4 major cities: Paris, Lyon, Toulouse and Bordeaux
Between 40 and 100 supplier invoices a month

CENTRALISATION OF INVOICES FROM A PART-TIME EMPLOYEE...

At Hello Syndic, invoice management is split between two functions:

Co-owned property invoices, managed in-house by the accounting team;
Hello Syndic invoices, managed by a part-time employee

In total, there are around a hundred invoices a month, which arrive from almost everywhere in France, via different channels (e-mails, post, etc.).

For Mikael and his staff, the difficult part was collecting all the invoices. The variety of channels and formats (attachments, paper invoices, PDFs, etc.) made it very difficult to retrieve all these invoices and meant payment times were lengthy.

Each invoice had to be retrieved, entered, paid and finally recorded in the accounts.

“We handle around 100 invoices a month, and it’s difficult centralising them all. Before, we had one person in charge of retrieving them, entering them, paying them and it was equivalent to 50% of a full-time position.”

Mikael Asseraf

Co-founder – Hello Syndic

.. TO AN HOUR A WEEK WITH LIBEO!

Since he started using Libeo, the process has been dramatically overhauled. It is now much easier for Mikael to collect his invoices as all his staff send them to him on via the dedicated Libeo email address. These appear in the interface as they come in. All invoices are filed and accessible according to user rights. The company accountants check invoices and prepare payments. Mikael then just has to validate them.

The platform offers a comprehensive view of all the invoices received. This centralised view is a useful performance lever for cash management. It provides a real-time view of all the expenditure committed by staff:

Libeo simplifies cash management. Inflows and outflows are broken down, along with financial indicators:

This real-time financial monitoring (incoming and outgoing payments) has enabled better collaboration between Hello Syndic and its accounting team.

Another subject is the payment tracking. With Libeo, Hello Syndic benefits from constant visibility over the flow of the invoices to be paid:

Mikael and his staff can keep service providers informed on the status of their payments.

Last but not least, the automatic IBAN retrieval. If an IBAN is missing, the supplier can enter it themselves via the email address. This automatic entry saves a lot of time.

With Libeo, Hello Syndic can now:

collect and centralise supplier invoices, avoiding duplication;
enjoy a real-time view of all their invoices and cash flow;
maintain a better relationship with suppliers by keeping them informed of payments.

“Today, I have a comprehensive view of all the invoices we receive. That lets me manage cash flow more efficiently: I know at any given time all the expenditure committed by our staff.”