The work as it was
Rent arrived on the bank statement with whatever the tenant had typed in the reference: a name, an address, a month, or nothing. Someone in finance read each line and decided which tenant it belonged to.
Under 25% were matched correctly by hand. The rest went to the wrong tenant, the wrong month or a suspense account, and the arrears list said tenants were behind who had paid.
What was built
- 01
Matching every payment
Each bank line is matched to a tenant using every clue on it: reference, payer name and account, amount against the rent due, payment history. A match on the rules is posted to that tenant's ledger.
- 02
Holding the doubtful ones
A payment that fits more than one tenant, matches no rent due or comes from an unknown account is held for a person, with the candidates listed. The decision is kept for next time.
- Reads
- Each transfer on the bank statement, and the rent due per tenant in the tenant ledger
- Checks
- Reference, payer and amount against each tenant's rent due and history; partial, doubled or new-account payments
- Writes
- The payment against the right tenant and month in the ledger, with its bank line
- To a person
- Payments that fit more than one tenant, amounts that match no rent due, transfers from an unknown account
One ordinary day
- 06:30
The overnight bank statement is read; each transfer is matched and posted to its tenant's ledger.
- 08:30
Finance opens the held list; a payment with only a first name is placed by a person.
- 09:00
A tenant has paid twice; the second payment is posted as an advance against next month.
- 11:00
The arrears list is run from the ledger; it shows only tenants whose rent is unpaid.
- 17:00
Every posting and every held decision is recorded against the tenant and the bank line.
What changed
The arrears list can be trusted. Payments are on the right tenant the morning after they arrive, and reminders go only to tenants who are behind.
Finance reads the held list instead of the whole statement. The owner's estimate of the first-year value at this group's volumes, in hours saved, errors avoided and revenue protected, is €66k.
How it was delivered
Delivered as implementation partner behind another company that owned the client relationship, and live as a pilot in one month. Rules first: what counts as a match, what is held, who decides. The tenant ledger was not changed and stays the system of record.