For property accounting management professionals, 2018 should be the year that they have access to the up-to-date information they need on details such as lease details, occupancy status, billing activity, and legal requirements, when they need it, in an easy and simple manner. The question becomes, how do you translate that wish into reality?
ERP integration enables timely access to data so that you can carry out improved competitive property analysis and make better decisions about the real estate that you manage. Read on to learn how ERP integration can change your property accounting management in the coming year, and how one organization benefited from this solution to become more efficient and profitable.
Challenges in Property Management Accounting
How many times have you run a report on property management accounting and received outdated information as a result? Any answer that’s greater than zero is problematic – it means that you don’t have the most current data to make the best possible decisions.
Why is getting the most recent property data so difficult? It has to do with your ERP system. It’s quite hard to get timely data out of ERP systems such as JD Edwards and Oracle; they don’t provide a unified view of historic, current, and future information related to rent rolls, occupancy, legal clauses, lease expirations, and critical date details.
“Getting the most recent property data is difficult because of your ERP system”
What you need is ERP integration. Such integration will enable you to obtain the information you need quickly and easily, so reports are no longer an exercise in looking through the rear-view window. In addition, you won't have to bother the IT department each time you want to run a query.
ASRA Housing Group: A Real Life ERP Integration Success Story
The not-for-profit organization ASRA Housing Group provides residents across the UK with affordable housing options. ASRA has been in existence for over three decades and manages over 14,000 properties.
Property management accounting team members realized that their ERP system made the reporting process a struggle – they couldn’t provide the information they needed to tenants or landlords. An upgrade to the ERP system didn’t solve the problem. Undaunted, the head of ASRA’s financial systems, Balwant Basran, turned to Hubble.
“A demo of Hubble convinced ASRA team members that they needed ERP integration”
Hubble’s demo left Basran and his team amazed. Here was a solution that enabled them to access data in real time – insights were available in seconds! Installing Hubble took all of a day, and two days after that users were trained and ready to run reports. Not only were users able to generate up-to-date reports on their own, Basran was able to get back to guiding the finance department instead of spending his time hunting down data.
2018 doesn’t have to be more of the same in terms of property management accounting. ERP integration simplifies reporting and lets you get back to doing what you do best. To learn more, request a demo.