Key Takeaways
Spacez used to piece together refurbishment costs after the project was done. With CashBook, the finance team had a complete, structured financial record from day one, cutting reconciliation from days to minutes.
Property managers were issued dedicated, pre-funded CashBook wallets with admin-set spending limits, eliminating cash and personal UPI transfers.
Payments that were previously invisible until receipts arrived are now visible to leadership the moment they are made, across every property, simultaneously.
Refurbishment budgets were tracked and enforced as spending happened, not reviewed after the project concluded.
CashBook's automatic sync with Tally and Zoho Books meant the finance team had categorised, audit-ready data waiting for them at month-end, not a backlog to work through.
The same wallet-based framework applies to any hospitality or property management business managing spend across multiple locations simultaneously.
About Company
Spacez is a Bengaluru-based luxury villa and short-stay hospitality brand with a presence across India's most sought-after urban destinations. The company manages a curated portfolio of private villas, premium homestays, boutique stays, and group accommodations designed for vacations, workations, corporate retreats, and private events.
Every Spacez property delivers a signature experience: fully furnished spaces, on-demand meals, dedicated concierge support, and housekeeping that meets the standards of a premium stay. With over 1,00,000 happy guests and a 95% five-star review rate, Spacez has built a trusted name in India's growing luxury short-stay market.
The company operates across key micro-locations in Bengaluru and Mumbai, including Indiranagar, Koramangala, HSR Layout, Whitefield, Bandra West, and Andheri West. Each property is independently managed, with its own vendors, procurement needs, maintenance schedules, and daily operational spending. Behind the premium guest experience is a financially complex, fast-moving operation, and one where structured hospitality expense management is not optional. It is what keeps the portfolio running.
Industry: Luxury Villas, Homestays and Short-Stay Hospitality
Headquarters: Indiranagar, Bengaluru, Karnataka
Presence: Multiple micro-locations across Bengaluru and Mumbai
Guest Satisfaction: 1,00,000+ guests served with 95% five-star reviews
Stay Categories: Vacation stays, workstays, urban stays, pool villas, and group stays
Operational Model: Distributed property management with centralised guest experience standards
Solution Used: CashBook UPI Wallets for property procurement and operational expense management
Challenges
When Property Growth Creates Procurement Chaos
Every time Spacez onboarded a new villa or refurbished an existing one, it triggered a surge of procurement activity. Property managers had to move quickly, sourcing furniture, fittings, appliances, and room essentials from multiple vendors in a short window of time. These purchases were made across several days, from different suppliers, in varying amounts, often by different team members.
Tracking all of this through physical cash or informal personal UPI transfers meant that the finance team had no real-time picture of what was being spent on any given refurbishment. By the time receipts were collected and reconciled, the property was already live and the spending was history.
The same problem played out daily. Housekeeping supplies, maintenance materials, and kitchen procurement happened continuously across properties, each generating its own stream of small, frequent vendor payments with no centralised system to capture them. For a growing multi-property operation, the finance function was permanently in catch-up mode.
Procurement payments made through cash and personal UPI
No real-time visibility into refurbishment budgets
High volume of small purchases from multiple vendors
No admin control over field-level spending
Expense data arrived late, after money was already spent
The compounding effect was significant. Refurbishment timelines became harder to manage financially. Operational budgets were difficult to enforce. And leadership had to make investment decisions without reliable, real-time data on what existing properties were actually costing to run and set up.
Solutions
Giving Every Property Wallet Its Own Financial Structure
CashBook's company-funded UPI wallets brought all of Spacez's expense requirements together in one platform. The wallet-based model meant that every property manager could be issued a dedicated, pre-funded digital wallet with a spending limit configured by the admin, making controlled, trackable payments the default for every property.
When a refurbishment project began, the relevant wallet was loaded with the allocated budget. As the manager made purchases, including furniture from a local supplier, fixtures from a hardware store, and kitchen essentials from a wholesale vendor, every transaction was made through the CashBook wallet, automatically logged, categorised, and instantly visible to leadership. No cash to handle. No personal UPI to reconcile. No receipts to chase at the end of the day.
For daily operations, the same infrastructure applied. Wallets were used for housekeeping vendor settlements, maintenance purchases, and routine operational expenses, all flowing through a single system that gave finance a live, structured view of property-level expense management across every location simultaneously.
Dedicated pre-funded CashBook UPI wallet per property manager
Admin-set spending limits at the wallet level, adjustable in real time
Every transaction visible on a live dashboard the moment it is made
Receipts captured and attached at the point of payment
Automatic sync with Tally and Zoho Books for seamless book closure
The result was a procurement and expense process that finally matched the pace of how Spacez actually operated. Property managers could move fast during refurbishments without creating financial blind spots. The admin had full visibility and control over every wallet in real time. And the finance team had structured, categorised data available from day one of every project.
Impact
Before CashBook, understanding the true cost of setting up or refurbishing a Spacez property was always a retrospective exercise. The finance team would wait for managers to submit receipts, manually match them against UPI histories and bank statements, and piece together a project total well after the work was done.
After CashBook, that dynamic changed entirely. From the first day of any refurbishment, the finance team had a live, property-by-property view of procurement spending as it happened. Every purchase made through a CashBook wallet appeared on the dashboard the moment it occurred, with a receipt attached and a category assigned. There was no reconciliation backlog to work through at the end of the project. The financial record had been building itself throughout.
The admin's ability to set wallet-level limits meant that budget discipline was embedded into the procurement process itself, not applied as a correction after overspending had already occurred. And monthly book closure became faster because all transaction data was already structured and ready to sync, with no manual data entry required.
Days to Minutes: Reconciliation time, from project start to book closure
100% Live: Payment visibility for leadership across all properties
From Day One: Structured financial data available, not after project end
Faster Close: Monthly accounting with auto-synced, categorised transaction data
The most important outcome was not any single metric. It was the shift in how Spacez now approaches every new property it adds to its portfolio. Refurbishments that were once a source of financial uncertainty are now managed with the same discipline and visibility as every other part of the business.
Industry Application
Who Else Benefits
The property procurement and expense management framework that Spacez implemented with CashBook applies directly across the wider hospitality and short-stay industry. Any business managing multi-location operational spend, from refurbishment procurement to daily vendor payments, can bring the same structure and real-time visibility to their operations.
Villa and Homestay Networks: Control procurement and maintenance budgets per property in real time.
Boutique Hotels and Serviced Apartments: Manage refurbishment and operational expenses with wallet limits and live spend visibility.
Co-Living and PG Operators: Track procurement, utility payments, and vendor settlements across all properties in one dashboard.
Workation and Retreat Centres: Handle procurement and guest experience expenses within structured digital budgets.
Property Management Companies: Give site managers controlled payment access with full financial oversight across every property.
Event and Banquet Venues: Manage vendor and contractor payments during live event cycles with audit-ready digital records.
Ready to bring the same control to your operations?
Book a demo or write to us at support@cashbook.in
