The Company: Spradley Properties
Spradley Properties, a full-service management company focused on real estate and property management, specializes in services spanning brokerage, property management and maintenance for commercial and residential properties in the Temple and Belton areas of Texas. Founded in 2005, the company has expanded consistently over the years, growing to a level that required more high-tech solutions. Targeting automation and efficiency, Spradley has implemented CommercialEdge Commissions, a complete commission and back-office solution.
The Challenge: Reduce Time-Consuming Invoicing Processes
Spradley Properties’ monthly invoicing process was complex and time-intensive, with invoices created in Word documents that were then converted into PDFs and sent out via email or physical mail. Finally, invoices were added to an Excel spreadsheet to keep track of all receivables and the amounts brokers had been paid. However, staying on top of everything was challenging, as information was spread across multiple records.
Kelly Yanez, commercial account manager & leasing agent at Spradley Properties, joined the company in 2011. She explained how the process of recording deals and creating invoices would take about five days twice each month. Moreover, data for reports had to be pulled manually from various spreadsheets, which further slowed the process as Kelly was required to double- and triple-check data in case of any inconsistencies.
The Solution: Streamline Back-Office Operations
Following Spradley Properties’ split from DB Commercial, the company branched out into providing brokerage services separately. With a sharp emphasis on technological advancement, Spradley was seeking to improve its systems and implement a solution to modernize its back-office operations, and Commissions was the primary step in that direction.
I would recommend Commissions because of the time you save. To be able to help with other stuff in the office is the biggest key for me. I do not have to do it the old-fashioned way (Excel sheets) … Now, I can do what I need to in a couple of hours and then go work with the brokers on another deal!Kelly Yanez, Commercial Account Manager / Leasing Agent, Spradley Properties
The Story: Leverage Automated Workflows for Operations
After implementing Commissions, invoice processing at Spradley was reduced from five days every month to just a few hours. The commission management tool now centralizes all deal data, documents, invoice dates and commission splits, making it easy to track everything from one place. Reports are automatically generated, with current and previous receivables reports streamlining day-to-day operations and saving the Spradley team at least a week during year-end closings.
What’s more, Commissions is accessible remotely, allowing Spradley’s management team to be less dependent on Kelly’s presence in the office in order to generate managerial reports. Prior to using the CRE tool, Kelly was the single point of information, but after implementing Commissions, Bobby Spradley, broker & owner of Spradley Properties, can easily access reports pertaining to his activity.
In addition to reducing commission management timelines, Commissions has also allowed Kelly to help with showings, leasing and sales. “I wear several hats, so going from five days when sending invoices to probably an hour the whole month has freed up my time to be able to assist management in many other ways,” she concluded.