customer stories

Ascend Properties automates property maintenance invoices using Nanonets

80%

Cost savings

4

savings in terms of FTEs

From 2,000 to 10,000

Growth in properties managed

Industry
Property Management
Document types
Invoices
Location
United Kingdom
Integrations
SQL

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Client:

Ascend Properties

Ascend properties provides UK’s leading property fund a full-service property management from build-to-rent services which offers support at all stages of the scheme lifecycle pre-build consultancy,lease up rentals and asset management set-up.  Ascend uses technology and expertise to increase efficiency and improve the customer experience, which has been a key factor to its explosive growth of 50% YoY with over 10,000 properties under management.

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Nanonets has helped us grow faster as a business and has set a high bar for customer service, we were just looking for invoice automation but now we are exploring more opportunities to automate document processing with Nanonets

David Giovanni, CEO

The Challenge

Ascend provides a property management platform where vendors can upload invoices for maintenance services, these invoices were manually verified and uploaded to their system. Ascend’s exponential growth of over 50% YoY led to an increase in workload,  to upload and verify invoices manually would require over 5 full time employees 

Their team needed a platform powered by artificial intelligence that could extract specific fields from the invoices which could help them scale without adding additional resources to invoice management

Our business grew 5x in last 4 years, to process invoices manually would mean a 5x increase in staff, this was neither cost effective or a scalable way to grow. Nanonets helped us avoid such an increase in staff.

David Giovanni, CEO

The Solution

Nanonet’s AI tool- Invoice OCR captures information from invoices and sends it to Ascend properties. Ascend trained the AI to extract required information from the invoices, post which they perform checks to ensure if all fields are correctly populated and in line with expectations. 

They are currently looking to integrate the invoice data to an SQL database with an automated validation process which would help them with fully automating their workflow.

The result

Before
5 Full time Employees
Manual Processing Effort
After
1 Part time Employee
Effort required post Automation

The Result

Nanonets has helped us in growing our business, we grew 5x in the last 4 years and Nanonets has helped us scale our invoice management system. We saved 80% in our processing costs, as we would have required 5x of our current strength in the department if we were processing invoices manually. We have received great support from Nanonets with response times in minutes instead of days from some other software partners, which has helped us save us a lot of time.

In the long run, we are looking into further automating our processing and to integrate our other workflows through Nanonets to help us save more. Nanonets has provided Ascend with a scalable solution for automation which will help them grow their business faster.

To learn more about Ascend properties and their work, check out ascendproperties.com.

To learn more about Nanonets, check out nanonets.com or speak with us today!

We have saved over 80% in costs for invoice processing by automating through Nanonets, we are further looking into integrating more of our services to reduce costs

David Giovanni, CEO