In the fast-paced real estate market, keeping financial operations in check can feel like a juggling act. Homelike, a top player in the mid to long-term furnished apartment sector, knows this all too well. They cater to both businesses and individuals, handling a high volume of transactions every month. With multiple parties involved and various payment methods to manage, it became clear that their existing approach to financial management asked for a change. Niclas Franke, the Head of Finance at Homelike, recognized that their unique business model needed a tailored solution to tackle these complexities head-on.

The challenge of managing complex real estate marketplace transactions
Homelike’s operations are anything but standard. Their unique framework means that financial management is filled with challenges. They needed a system that could not only keep up with their busy transaction flow but also adapt to the specific needs of their business model. Without the right tools in place, maintaining accuracy and efficiency would be an uphill battle.

Why homelike chose Actuals
After weighing their options, Homelike decided to partner with Actuals for several key reasons:

• Customizability: They needed a solution that could be tailored to fit their distinct business model.
• Real-Time Tracking: The ability to track transactions across multiple platforms was essential for smooth operations.
• Automation: Automating complex financial processes was critical for reducing manual workload.
• Payment Matching: Accurate matching of incoming and outgoing payments was non-negotiable.

Actuals promised to deliver on all these fronts, making it the clear choice for Homelike.

Transformative results
Since implementing Actuals, Homelike has seen a remarkable transformation in two key areas: payment netting and the dunning process.

Payment netting made easy
With Actuals, matching incoming and outgoing payments with invoices and credit notes has become automated across various banking platforms like Stripe, Commerzbank, and Revolut. This shift has drastically cut down on the manual work involved in these processes.

Streamlined dunning process
The dunning process has also been revamped. Homelike now has an efficient payment reminder system in place, making debt collection far more effective than before.

Real benefits you can see
The integration of Actuals into Homelike’s operations has led to significant time savings—Niclas estimates they’ve cut down on manual work by around 8 to 10 hours each week. Improved accuracy means they’re matching transactions more effectively, while efficiency gains have sped up payment reminders and collections. These changes have had a positive ripple effect on cash flow management, leading to a healthier cash collection cycle.

Real-time financial visibility
One of the standout features of Actuals is real-time financial visibility. Homelike can now track payments instantly across all platforms and receive real-time updates within their systems. This level of visibility is crucial for everyone involved in transactions, allowing for better decision-making and operational oversight.

Looking ahead
The partnership between Homelike and Actuals showcases how the right financial technology can simplify complex business operations. The investment has not only paid off in terms of time savings but has also brought enhanced accuracy and efficiency into the fold.
As Niclas puts it, “The customizability of Actuals has really helped us track all these payments with everyone involved.”