Ashok shows why property management software and bank data don't talk to each other, costing you hours on reconciliation. Standard bank feeds lag and miss transactions. Direct APIs like Column's pull real-time data and AI flags mismatches automatically.
So in your accounting software, where your property management software, it tells you everything, what should happen. Rent is due on the 1st. You have a vendor payment that's going out for $3,500. If everything goes well, this is what should happen. But your bank, the data at your bank that tells you what actually happened, that rent, when did it actually get in? When did it actually settle? When did that owner distribution get cleared? What was the actual amount that it cleared the bank at? Yeah. So the owner has their distribution, you know, in cold hard cash at their bank account. That's what's actually happened. So in order to do truly kind of trust accounting and reconciliations in an automated way, you need to be able to connect those two gaps, right? Bridge the gap essentially between your property management software and the data that's in there and your bank with the data that's in your bank as well. And historically, there was no way to access that bank data in a very kind of programmatic, systematic, and even more importantly, real-time way, right? You, you kind of have Plaid, which, you know, was a really, really good solution depending on the layer of integrations you have. But again, it's not real-time data. It refreshes, you know, once 24 hours, whether you're using Appfolio's bank feed or Buildium's auto-recon solution. And a lot of transactions are still getting kind of missed when it could easily auto-match. But now when you have APIs, what we're actually seeing some of our, you know, existing customers doing, they're actually taking that data from their property management software, building an interface, and connecting that with the data they're pulling in directly via APIs at Column with the view-only permission, auto-matching all the transactions that match. When something doesn't match, when there's a variance, when there is a transaction in the bank that's not reflected as a journal entry in your property management software, or vice versa. And that is where AI can be really special. Ashok.
