Solving a Ubiquitous Problem: The Story Behind PredictAP

The accounts payable process in commercial real estate has long been plagued by inefficiency. From manual invoice coding to reliance on tribal knowledge, organizations have struggled to maintain accuracy and consistency. This pain point was not only frustrating but costly, leaving a wide gap in the market for an innovative solution. PredictAP was born to fill that gap. Here’s how we turned an unresolved problem into a market-leading platform, and where our journey is taking us next.

Recognizing a Perpetual Problem in Real Estate AP

David Stifter, founder and CEO of PredictAP, initially tackled the issue firsthand during his tenure as head of technology at a global private equity fund. Managing thousands of entities and properties worldwide exposed him to the overwhelming complexities of invoice coding. Everything, from entity-specific coding to complex recoverable charges, created thousands upon thousands of variations. The stakes were high—missteps in coding could tangibly impact financial recoveries or create compliance issues. Yet, despite efforts to streamline processes with existing tools, no solution truly addressed these nuanced challenges.

Exasperated by the lack of an adequate tool, David didn’t immediately set out to create a company. Instead, he sought external solutions, trialing platforms that fell short of the sophisticated requirements needed in real estate AP. These systems often offered basic data extraction but failed in coding accuracy and adaptability, a stark demonstration that nothing in the market could reliably solve the problem.

That’s where the idea of PredictAP began to take form. With artificial intelligence and machine learning innovations surfacing around the same time, David saw a unique opportunity to create a solution that learned from historical data to automate coding workflows intelligently. Rather than relying on humans to memorize complex rules, this tool could identify patterns and adapt to evolving business needs.

Founding PredictAP on Complementary Vision and Skills

By 2019, it was clear that David’s concept deserved deeper exploration. Enter Russell Franks, co-founder, president, and entrepreneur who was introduced to David by a shared contact. Russell had already built and scaled early-stage companies. With fresh energy following an exit from his most recent venture, he was ready for a challenge in a niche industry where his expertise could make an impact.

David’s understanding of real estate operations and technology fused seamlessly with Russell’s knowledge of startup operations and scaling strategies. Together, they recognized that the AP inefficiencies they sought to fix were not unique. These issues plagued organizations across the real estate industry, leaving CFOs bogged down in manual coding tasks that prevented them from focusing on higher-value activities.

It wasn’t until mid-2020, during the early days of the global pandemic, that PredictAP was officially born. Despite challenging economic conditions, David and Russell launched a bootstrapped, 100% virtual company. Their early approach reflected deep pragmatism, focusing on a defined, complex problem rather than chasing broad-market trends or creating a product for its own sake.

Building a Solution That Works Through Complexity

From the very beginning, PredictAP was committed to solving a specific pain point with precision. It wasn’t about jumping on the artificial intelligence bandwagon but using the technology to tackle a real issue in real-world systems. The initial challenge was coding invoices without relying on hard-coded rules or endless manual intervention. PredictAP came up with an AI-powered solution designed not just for automation, but adaptable problem-solving.

Within the first year, PredictAP’s product had reached the market, setting a new standard for invoice processing in commercial real estate. Customers immediately recognized its value, not only for automating coding workflows but also for improving overall financial consistency and accuracy. By combining AI learning with human feedback loops, PredictAP created a platform that could evolve alongside its users’ business needs.

Today, PredictAP’s approach continues to resonate with clients because of its focus on results. Customers from senior living to industrial real estate now regard the platform as a trusted partner in managing back-office efficiencies. Where manual processes once dominated, PredictAP delivers transparency, cost savings, and operational intelligence.

Challenges and Culture Shape the Company’s DNA

Launching a business in the uncertain environment of a pandemic was no easy feat. David and Russell had to negotiate new realities, including remote work and prolonged sales cycles. But adversity taught them invaluable lessons about how to grow thoughtfully while staying focused on the company’s mission.

A core belief in prioritizing people and meaningful relationships underscored every business decision. The founders intentionally scaled PredictAP at a measured pace, building a close-knit team that embraces collaboration and agility. Each hire has been carefully chosen, not only for their technical expertise but also for their alignment with the company culture. As a result, the growing team of 26 has fostered an environment where autonomy, trust, and adaptability fuel success.

Pragmatism has remained a guiding principle not only in product development but also in business operations. PredictAP has consistently avoided exaggerating its capabilities, instead focusing on delivering concrete value to its customers. This commitment to authenticity and integrity has bolstered its reputation as a dependable solutions provider in the industry.

What Comes Next?

With five years under its belt, PredictAP stands at an inflection point. The platform has proven its effectiveness and entrenched itself as the go-to AP automation tool for some of the biggest players in commercial real estate. Yet, the company’s ambitions continue to grow.

The future of PredictAP is grounded in expansion, both in functionality and market reach. Real estate will always remain a centerpiece of the business, given the sector’s ongoing need for reliable AP solutions. But that’s just the start. PredictAP's data insights feature, currently in beta testing, hints at a future where invoice data powers deeper trends, cost management, and strategic decision-making.

Ultimately, PredictAP envisions itself as more than an automation tool. It aims to be an indispensable partner for its customers, enhancing not just accounts payable but their entire approach to financial intelligence.

What Comes Next?

David and Russell didn’t set out to be disruptors; they set out to solve a complicated problem, a problem that too many companies had accepted as a given. Today, PredictAP’s impact proves that when innovation is paired with a focused mission, it can deliver lasting change.

The PredictAP founders remain laser-focused on empowering organizations to work smarter, not harder. Their dedication to customer-centric growth, backed by a culture of thoughtful innovation, ensures that the company’s evolution will reflect the needs of its community. And as PredictAP charts its next chapter, one thing remains clear: this is only the beginning.