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What serious benefits can Property Managers expect .pdf


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What Serious Benefits can Property Managers expect from
Deploying Next Generation Cloud Based Property Management
Accounting System?
Rupsha Dasgupta
Property management companies have come to realize that modern, cloud ERP solutions can
tremendously improve the bottom-line. And there are numerous other benefits. Success stories abound
where property management companies have deployed cloud ERP solutions and reaped the benefits.

What are some of the benefits?
Mobility: Cloud based property management solutions eliminate the requirement to be on-site to
access critical business information. As Erick Martinez, founder and CEO of True Service New York says,
“Property managers are always on the go, and in this modern age we need something that moves along
with us”. This need motivated True Service New York, (condominium and rental properties Management
Company) to deploy Acumatica powered property management system. The outcome has been easy
access to data from cell phones and laptops.
Security: Cloud based accounting software for property management minimizes the risk of data loss.
Since information is stored in the cloud, chances of damage to data files are minimal. Access can also be
controlled depending on the requirements of the company.
Increase in operational Efficiency: Most cloud ERP software is equipped with features that greatly
enhance operational efficiency. For instance Acumatica powered Imperium property management
solution incorporates work order management in addition to traditional lease and accounting
functionality. Moreover, it is fully integrated to accommodate other software products. All this means
significant improvements in operational efficiency.
Flexibility: One key advantage of cloud based property management accounting software is flexibility.
Imperium powered by Acumatica can be easily scaled to accommodate new requirements as your

business grows. New features and functionalities can be incorporated as suits your growing business
needs.
Reduction in Operational Costs: When managing multiple properties, errors are almost always
inevitable if data has to be entered manually. An efficient ERP system can significantly minimize
unavoidable errors due to manual entries. So, you can better manage and analyze your data using one
central system.
Most importantly, you can benefit from reducing overhead costs. Your cloud ERP system would be
completely capable of replacing personnel across units. Thus, driving profits further.

What Functionalities Can Be Achieved?
A robust property management ERP solution is able to handle your accounting as well as administrative
needs. Following are some of the typical functionalities that could be easily achieved with ERP software:
1. Accounts Payable including check writing, vendor/supplier database management, aging & standard
reports.
2. Accounts Receivable
3. General Ledger that includes cash accounting, chart of accounts customization, income statement &
balance sheet reports, cash flow reporting, multi-entity accounting.
4. Core property management needs such as property-centric financial reporting, property owner-based
reporting, property vacancy posting management, tenant application management, tenant screening,
tenant and owner portal
5. Work order issuance, onsite service based work order management.

About Advanced Solutions and Consulting, Co. (ASC)
Based in San Diego, Advanced Solutions and Consulting, Co. (ASC) has been in business since 1998
providing leading edge ERP solutions to the mid-market. ASC offers a wide range of services from
business process reengineering and custom development to on-time ERP implementation and ongoing
support. ASC is a founding member and leading Acumatica reseller. For more information visit Advanced
Solutions Consulting or call (877) 590-4ERP or email us at sales@solutionsco.com.


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