Settlement Automation in Real Estate: How Kodoro Saved 15% of Accounting Time

Kodoro is a rapidly growing company operating in the real estate sector, specialising in comprehensive rental management and office space adaptation. Their business model is based on renting office space and ongoing cooperation with an extensive network of subcontractors who carry out renovation, finishing, and ongoing property maintenance work.

Kodoro's primary objective was settlement automation with subcontractors to eliminate cumbersome cash advances and expense accounting issues. By implementing the Sparados system, the company achieved this goal, significantly increasing operational efficiency, saving accounting time, and virtually eliminating settlement backlogs.

The Challenge? Lost Invoices and Time-consuming Settlements

Faced with the intense activity of managing numerous projects and properties, Kodoro struggled with classic but extremely frustrating problems in managing operating expenses and subcontractor relationships:

• Documentation chaos: Employees and subcontractors often lose paper invoices and receipts, leading to delays, errors, and the need to re-contact vendors.

• Time-consuming settlement process: The process of settling each advance payment or expense from private funds was manual, lengthy, and involved valuable time for both subcontractors and the accounting department. This generated frustration and slowed down cash flow.

These problems not only burdened the accounting department but also negatively affected relationships with subcontractors, who had to commit their own money and spend time on the tedious task of collecting receipts.

‘There was always a receipt missing, and paying out of pocket and waiting for a refund was the biggest headache. This created unnecessary tension and took up valuable time,’ emphasises one of the subcontractors.

Solution: Virtual Cards and Digital Expense Control Sparados

Kodoro, seeking a solution that would revolutionise expense management, decided to implement the Sparados platform. This solution gave the company full control over project budgets and operating expenses.

Key elements of the Sparados implementation:

• Real-time digitisation of settlements: After making a purchase (online or offline, e.g. in a DIY store), the subcontractor immediately adds the document (scan or photo of the invoice/receipt) to the transaction in the Sparados application.

• Immediate visibility of expenses: All transactions and associated documents are visible in the accounting control panel in real time.

As a result, subcontractors no longer had to pay out of their own pockets, and the accounting department gained immediate insight into expenses, eliminating the risk of lost documents. The Sparados solution was optimal because it offered automated accounting and instant documentation.

Results: How Settlement Automation Boosted Kodoro's Efficiency

The implementation of the Sparados system brought Kodoro almost immediate and measurable results, proving that the digitisation of financial processes is key to efficiency in the real estate industry.

• Accounting time savings: Time savings of approximately 15%

  Thanks to the automatic assignment of documents to transactions and immediate visibility, Kodoro's accounting department saved approximately 15% of the time it previously spent on manual verification, searching for missing invoices and settling advances.

• Reduction in unsettled transactions: Drop to virtually zero

  The introduction of instant document addition has reduced unsettled transactions in Kodoro's control panel to virtually zero. Subcontractors no longer need to collect paperwork, and the accounting department can be sure that all documents are in place.

• Improved relations with subcontractors

  Subcontractors and contractors enthusiastically welcomed the new solution. They no longer have to pay with their own funds or worry about collecting paper documents, which makes cooperation with Kodoro more attractive and hassle-free.

'Sparados is a win-win solution for us. Gone are the days of tedious settlements and errors in invoices. Subcontractors pay with company cards, and we have a complete set of documents right away. Our accounting department can breathe a sigh of relief, and we have saved about 15% of the time spent on tedious manual processes. It was a bull's eye.' - Katarzyna Drzyzga, owner and CEO of Kodoro

Conclusion: Kodoro’s story proves that moving away from manual, outdated expense management can dramatically impact efficiency. Sparados has proven to be a key partner, providing the tools for transparent, digital, and settlement automation.