Camden Property Trust

Automated Billing Helps the Bottom Line

Summary

Camden Property Trust is using OpsTechnology to trim expenditures by automating accounts payable, invoicing and other functions.

Situation

Camden, one of the largest multifamily companies in the nation, owns and manages more than 50,000 apartment homes in 150 communities in the Sunbelt and Midwest from Florida to California. The company needed a tool to reduce its costs and save money by streamlining its billing and ordering processes.

Solution

Camden deployed OpsBuyer to extend its leadership in adopting new technologies, to create new process efficiencies and to develop better information tools. This efficient purchasing platform is allowing Camden to reduce expenses and generate financial savings. At the property level, Camden associates report decreased time to order and an increased ability to schedule the cleaning and installation of flooring products. Having universal access to data and reports gives them an enhanced ability to track and manage warranties.

According to Steve Eddington, Senior Vice President of Operations at Camden, "We have been pleased by the overwhelming acceptance of the system at our on-site level, ease of use, flexibility of programming, time savings, report generation, supply tracking capabilities, actual expense to budget compliance, etc. We look forward to our continued relationship with OpsTechnology and anticipate the highest level of ongoing services rendered by OpsTechnology and their team of professionals."

Camden has also been able to spend more time expanding its national purchasing program to include additional vendors. Shortly after the initial deployment, Keith Oden, President and COO of Camden Property Trust, noted that only Camden's standardized tile pattern was available to Camden users. By aggregating larger quantities or multiple vendors - either through larger orders, or by knowing its consumption in advance, a firm can negotiate better pricing upfront. By making commitments to a producer and supplier, they can in turn pass along the better pricing they receive for their materials and labor.

Bottom-Line Results

Camden has generated large efficiencies in batch processing of invoices in its accounting department. Under the old system it took 5 people 1.5 hours each to process 375 invoices. Using the OpsBuyer™ system, one person can batch process the same number of invoices in three hours. This doesn't just create more time for better management of higher-value functions: it has allowed the company to reduce headcount by 2.5 FTEs in the accounts payable area, generating a hard savings estimated to be at least $60,000 annually.