Our client provides security deposit insurance that renters can use in lieu of cash, offering tenants a product that can substitute for a traditional deposit in exchange for a monthly fee and ultimately expanding access to housing, affordably. Their initial challenge was ensuring that the rental properties on their platform were quickly validated and represented.
When property managers sign-on to use the company's platform, they have to provide a list of all their building units in a spreadsheet so the company's operations team can upload them to their website in order to ‘go-live’ as a partner. Initially, it took 9 days for the operations team to upload these assets due to the manual work involved in cleaning and reformatting unstructured spreadsheet data. Dedicated temps were hired in-house to clean this asset data.
Invisible established a workflow whereby any property manager building assets sent during East Coast business hours, were formatted per the company's desired hour within 48-hours of receipt. Today, it takes less than one day to upload these assets nearly an 80% decrease in upload time. Building on this initial success, Invisible took on other workflows and reduced time to live from 19 days to 8.5, with over 1 million units now live. In addition, Invisible saved the compliance team 22 hours in manual work each week as well as $75,000 in fees, just in the last quarter alone.
Invisible has become a critical scaling partner to the company helping them scale the interactions on their platform, filling in gaps in technology, test new workflows, expand to new markets, and ultimately helping them make renting more accessible to the average person.
Get these sorts of efficiencies in your business.