The initiative forms part of Growthpoint's broader efforts in using pioneering technology to enhance operational efficiencies and reduce environmental impact to achieve its ambitious sustainability goals.

With its extensive South African portfolio spanning around 350 buildings, Growthpoint says that it processes more than 1 100 municipal invoices each month, a task requiring around 160 hours of manual handling, and diverting resources from other vital activities.

This makes it difficult to extract and apply critical data related to utility consumption, such as power and water use information, Growthpoint adds.

Recognising the potential for automation to transform this process, Growthpoint adds that it collaborated with 1ai to develop a bespoke system that automates the invoice processing workflow while extracting and structuring the useful sustainability data embedded within the documents. The result is a process that combines advanced Robotic Process Automation (RPA) with powerful text extraction algorithms, designed to manage the varied formats and complexities of municipal invoices.

Growthpoint says that the project has already delivered substantial operational benefits. In addition to saving 475 hours per month across both invoice processing, as well as the extraction and analysis of sustainability data, it can now redirect resources towards other efforts, such as enhancing sustainability reporting and supporting the company's broader environmental, social and governance (ESG) goals.

Engelbert Binedell, Chief Operating Officer at Growthpoint Properties, says, "Automation has significantly improved our invoice processing and data analysis capabilities. By accurately capturing detailed utility data, we are now better equipped to meet our sustainability targets and optimise resource management across our properties. This improves our efficiency and enhances our strategic decision-making process."

Rudolph Janse van Rensburg, Founder and CEO of 1ai, adds, "Our partnership with Growthpoint demonstrates the practical value of intelligent automation in managing complex processes. By streamlining the processing of municipal invoices, and thereby unlocking critical sustainability data, we have helped Growthpoint enhance operational efficiency while gaining valuable insights that support their sustainability goals."

"Our collaboration reflects a shared commitment to leveraging technology to drive efficiency, sustainability and innovation in the property sector," adds Janse van Rensburg.

The success of the initiative is a key component of Growthpoint's strategy of incorporating intelligent automation across various aspects of its operations, with plans to expand the application of RPA to other critical areas, including vendor onboarding and contract lifecycle management.

Binedell concludes that the automation initiative aligns with Growthpoint's vision of remaining at the forefront of sustainable property management and setting new standards for operational excellence and environmental stewardship within the industry.

For more information, visit www.growthpoint.co.za. You can also follow Growthpoint Properties on Facebook, LinkedIn, or on Instagram. 

*Image courtesy of contributor