How India's Premier Real Estate Developer Automated AP with MYNDAPX
Building the Future of Real Estate Finance
Overview of Client
A leading real estate developer managing complex multi-project operations across India
Industry Complexity
Multiple high-rise residential and commercial projects spanning years, involving hundreds of vendors from construction contractors to facility managers
Vendor Ecosystem
Managing vast relationships with material suppliers, interior designers, construction contractors, and service providers across all project phases
Transaction Volume
4,000+ transactions flowing through accounts payable every month, requiring a foundation as solid as the structures they build
The Industry Reality
Real estate development isn't just about constructing buildings — it's about orchestrating hundreds of moving parts. Every tower, every project, every phase involves unique vendors, custom contracts, milestone-based payments, and strict regulatory compliance. Traditional AP processes simply couldn't keep pace with this complexity.
The Real Estate Finance Challenges
When Manual Processes Threatened Project Timelines
Zero Visibility, Total Chaos
No real-time view of open POs or pending invoices; finance queries required days of manual reconciliation
Vendor Relationship Strain
Delayed payments and unpredictable cycles damaged critical contractor relationships and disrupted timelines
TAT Nightmare
Physical invoice routing through multiple approval layers took 20-30 days, violating payment terms and SLAs
Accrual Accuracy Issues
Month-end closures chaotic without real-time tracking; inaccurate provisions impacted financial reporting
Onboarding Bottlenecks
Manual vendor onboarding process took weeks, delaying new project kickoffs and frustrating vendors
Compliance & Audit Concerns
No proper audit trails or systematic records made proving payment legitimacy labor-intensive during audits
Our Solution: Architecting a Digital-First AP Infrastructure
MYNDAPX: Purpose-Built for Complex Real Estate Finance
Intelligent Vendor Onboarding
- Digital self-registration portal for new vendors
- Automated verification: GST validation, bank A/C checks, BGV
- Reduced onboarding time from 3 weeks to 3 days
Self-Service Vendor Portal
- 24/7 access to personalized vendor dashboard
- Digital invoice submission and real-time status tracking
- Eliminated 90% of payment inquiry calls
Intelligent Workflow Engine
- Smart multi-tier approval workflows matching project hierarchies
- Approval limits by designation and project type
- Mobile approval capability for on-site executives
Seamless System Integration
- Real-time ERP system integration
- Automated data synchronization—zero manual entry
- Eliminated version conflicts and reconciliation issues
Real-Time Visibility Dashboard
- Instant access to open PO values by project
- Pending invoice aging reports and TAT compliance metrics
- Budget vs. actual comparisons in real-time
TAT Tracking & Alerts
- Escalation to higher authorities on delays
- Vendor notifications on payment schedules
- SLA breach alerts and audit-ready compliance reports
From Construction to Excellence: Measurable Transformation
Seamlessly processed across multiple projects
Zero payment delays, complete SLA adherence
Instant insights into POs, invoices & payments
Benefits Delivered: A Lasting Transformation
Our intervention brought measurable improvements to the client's Accounts Payable operations. By combining automation, compliance, and a vendor-first approach, MYND transformed an inefficient system into a streamlined, transparent, and scalable process.
Crystal Clear Visibility
- Real-time visibility across all open POs and invoices
- 70% faster month-end closures with precise accrual calculations
- Automatic tracking of services rendered vs. invoices pending
Workflow Automation Success
- Complete invoice lifecycle tracking with zero errors
- Approval cycles reduced from 20+ days to 5 days
- Digital routing eliminated physical delays
Vendor Satisfaction Soared
- Self-service portals and transparent communication
- 95% vendor satisfaction score
- Contractors prioritized projects knowing payments guaranteed
Operational Efficiency Gained
- 60% increase in AP team productivity
- Staff redirected from manual tasks to strategic analysis
- Handle more projects without proportional headcount increase
