Keeping track of expense reports can be a grueling and time-consuming process. This was a particular problem for Tia Alexander, owner of the Texas real estate agency, the Crane Group. Alexander, who regularly accumulates massive amounts of receipts in day-to-day business, turned to Neitra Blair of Organizing Lifestlyes for help. As a professional organizer, Blair recommended the Neat Company’s NeatReceipt scanner to replace the many shoeboxes, excel files and color-coded cabinets Alexander had previously used to [haphazardly] record the company’s tax and expense reports.
The Texas-based real estate agency — the Crane Group, manages leases and sales for property throughout the Houston area. What began as a small company founded by a husband and wife team in 2005 has since grown into a full service agency that caters to all of their clients’ real estate needs. As such, the company regularly accumulates large amounts of paperwork and receipts.
“The interface is great,” Alexander says, “It helps me think of effective ways to organize my information.”
Alexander saves roughly 4 hours a week on administrative work and nearly an entire workweek on tax procedures at the end of the year. The biggest payoff she says comes from the yearly expense reports created for each rental property the Crane Group monitors. Alexander is able to determine profit loss and gain as well as track the cost of being a real estate agent, including employee’s fees, dues, mileage, commissions, and out-of-pocket expenses.
Other real estate professionals have found reasons to invest in Neat technology as well. Real estate agent Holly Hammond expressed her interest in Neat Company blog. She writes, “I don’t have time to file and organize my office, which looks like a tornado hit. Your product could help me organize all of the necessary documents for each homeowner into one pdf. to send to the lender. It could also help me track my expenses and receipts to save time.”
The NeatReceipts scanner utilizes an optical character recognition (OCR) and patented parsing technology to read and extract information on receipts, business cards and documents. This allows the NeatReceipts software to create expense reports, complete tax forms, populate contact databases, and track company spending, amongst other applications. This is the kind of utility that has given rise to NeatReceipts presence among professionals in the real estate industry.