Case Study: Boston Properties achieves 84% tenant adoption and a 100% paperless AR with VersaPay ARC

Boston Properties Moving from Reactive to Proactive at a Large REIT, +84% Tenant Adoption

Boston Properties, a leading US REIT that manages Class A office properties across major markets, was spending excessive time on low-value AR tasks. The team juggled four systems to track 10,000 invoices per month, relied on paper processes and lockbox checks that often didn’t match billed amounts, and spent hours on cash application and tenant follow-ups, which created operational drag and tenant frustration.

The company implemented VersaPay ARC, a cloud-based invoice-to-cash platform that provides tenants with 24/7 self-service, payment scheduling, automated reminders and automatic cash application. Within months Boston Properties went 100% paperless, achieved 84% tenant adoption, dramatically reduced time spent chasing small dollars and back-and-forth communications, and freed the AR team to focus on more strategic, proactive work.

Boston Properties

Jeff Phaneuf

VP Finance & Planning