Case Study: Kite Realty streamlines invoice-to-cash and speeds collections with VersaPay ARC

Taking the Pain Out of the Invoice-toCash Process at a Retail REIT

Kite Realty Group Trust, a commercial real estate REIT managing 120+ properties and about 5,000 invoices per month, faced a highly administrative accounts-receivable process that couldn’t meet tenant expectations. With a four-person AR team spending a third of its time on reconciliations, widespread check payments to multiple lockboxes, missing remittance data, and no regular invoice presentment, Kite struggled with slow collections, poor visibility and time-consuming tenant inquiries despite attempting an in-house fix.

Kite implemented VersaPay ARC, a cloud-based invoice-to-cash platform that provides a tenant portal for monthly invoices, secure online payments (ACH and credit card), in-platform communication and automated cash application. The solution cut manual work, eliminated remittance guesswork, improved tenant communication and visibility, increased tenant adoption, sped collections and left both the AR team and tenants more satisfied.

Kite Realty

David Buell

Chief Accounting Officer