RealForce Banking Module - ACH

Client Profile

A multifamily real estate firm based out of the US that specializes in managing and investing in multifamily properties. The firm offers acquisitions, investing, development, operational excellence, and property repositioning services. Their goal is to create thriving communities for residents while maximizing returns for their investment partners.

Problem or Challenge

The real estate firm relied on a legacy application built on a dark net (???) for ACH payments and journal entries.

It relied on manual data entry for ACH transactions and journal entries and had inefficient bank reconciliation processes.

This application was outdated, lacked user-friendliness, reporting, and security features.

It wasn’t responsive and couldn’t handle future growth.

Solutions

Rialtes proposed to leverage Salesforce Einstein 1 to improve customer experience through a unified platform, improve user experience with a modern interface, consolidate applications and data as well as utilize its reporting, dashboards, and automation features. Rialtes implemented ACH functionality within Salesforce to automate the creation of pre-formatted ACH files for Bank of America and automatically generate journal entries in Excel format for the Yardi accounting system. We scheduled end-to-day upload of ACH files to Bank of America and integrated it with real-time accounting system for automatic journal entries.

Benefits

• Improved user interface for efficient data entry and management.
• Consolidated platform for future application integration and data management.
• Powerful reporting and dashboards for financial insights.
• Automated ACH processing and journal entry creation.
• Streamlined bank reconciliation process (10x faster).
• Reduced manual work and replaced a full-time resource.
• Increased productivity for finance and accounts payable teams.
• Real-time financial dashboards for better decision-making