Transforming Tenant Debt Collection
A nationally recognised leader in retail-led, mixed-use development faced persistent challenges in managing their tenant collections. Manual, spreadsheet-driven work led to inefficiencies, delayed responses and limited visibility across teams. Recognising the need for a modern, centralised solution, the client partnered with Open Box to streamline their collections process and create a scalable solution.
The Opportunity
The client’s collections and leasing teams faced the following challenges:
- Manual Triage & Reporting: Identifying high-priority tenants was challenging, as staff had to manually sift through data to determine who needed to be contacted first, slowing down critical collections efforts.
- Manual Data Downloads & Management: Tenant data was manually downloaded from their property management and CRM systems and reviewed offline using spreadsheets, resulting in out-of-date information, version control issues and staff inefficiencies. Spreadsheets were often updated and sent via email, making real-time access and collaboration challenging.
- Disparate Workflows and No Centralised Tracking: The collections process was fragmented, leading to low visibility into task status, manual follow-ups and a general lack of understanding regarding who owned what and where a collection stood in its lifecycle. Monitoring and managing data across multiple departments was difficult due to the absence of a centralised system.
The client sought a solution that would address these inefficiencies and provide real-time insights, automate reporting and support future application growth.
The Approach
Having determined that an off-the-shelf solution did not meet their requirements, the client approached Open Box to consult on whether building a low-code or high-code solution would be best fit, which involved the following activities:
- Requirements Gathering: Engaging with collections, leasing and executive teams to understand current pain points and their desired outcome.
- Product Evaluation & Proof of Concept: Evaluating whether the required solution could be achieved using a low-code platform, such as Microsoft PowerApps, or whether high-code was warranted. This included developing a low-code proof of concept application to showcase capabilities and shortcomings based on requirements.
- Technical Analysis & Evaluation: Comparing low-code and high-code solutions based on performance, cost and ability to meet evolving business needs. Analysis included feedback on application designs as well as analysis of data sources.
- Stakeholder Engagement: Presenting findings and recommendations to the client, ensuring alignment with their vision for a dynamic and data-rich application.
The Solution
Based on the evaluation, it was determined that building a high-code solution was the best fit. Key features of the solution included:
- Centralised Dashboard: Instantly surfaces tenants requiring attention, displaying key metrics such as cash value and days overdue. A dynamic grid which caters for various audiences and data sources.
- Task Automation: Users can create tasks for individuals or teams based on existing workflows or custom needs. Assignees receive email notifications and task status is centrally tracked.
- Seamless Integration: Integration toolkits were leveraged to automate retrieval of tenant data from their property management system and CRM, ensuring up-to-date information and eliminating manual downloads. The application also interfaces with their access control system of choice.
- Enhanced Reporting: BI dashboards providing AR reports, providing executives, collections and leasing teams with a clear view of current delinquency positions. This resulted in substantial time savings as reports previously had to be compiled manually.
- Workflow Standardisation: Centralised tracking of tasks and actions across departments, improving collaboration and reducing manual follow-ups.
- Scalable Architecture: Built to support ongoing enhancements and additional functionality as business needs evolve.
The Result
The application delivered the following immediate benefits:
- Time Savings & Faster Collections: Streamlined workflows and automated data retrieval significantly reduced manual effort. Prioritisation of high-risk tenants enabled quicker follow-ups and accelerated cash flow.
- Increased Visibility: Centralised dashboards and reporting provided real-time insights into collections status, ownership and process bottlenecks.
- Improved Collaboration: Standardised processes and centralised task tracking enhanced inter-departmental communication and accountability.
- Executive Empowerment & Reduced Business Risk: Up-to-date data and automated reporting minimised errors and improved visibility to make more informed and strategic decisions.
Conclusion
By partnering with Open Box, the client transformed their collections and AR processes from fragmented and manual to streamlined and data-driven. The solution not only resolved immediate operational challenges but also established a scalable platform for future enhancements. With improved efficiency, reduced risk and enhanced visibility, the client is now well-positioned to drive continued growth and operational excellence in a dynamic real estate environment.
Transforming tenant debt collection into seamless, data-driven recovery.
