Acumatica has made a strategic decision to attack niche “micro market” segments to increase market share. This makes lot of sense. There are many ERP solution providers moving up the cloud ERP food chain. This is Acumatica’s sweet spot and were first movers and got a head start. Now that competition is heating up, Acumatica intends to dominate select segments. Iqbal Rashid, ERP consultant says “this is a very smart move for Acumatica”
What is Property Management? Are you a commercial and residential real estate owner? You have come to the right place. You face challenges and want to keep ahead and do more with less. Cloud Based Enterprise Resource Planning is an excellent solution strategy: (Increase automation and reduce manual work flows.
Some of the challenges you face include:
- Not all tenants are alike; Answer: Flexible Billing options
- Vacancy Ratios; Answer: Vacancy Management combined with renewals
- Work Order Management; Answer: eDocument creation such as leases.
- Customer Service; Answer: Leaseholder, vendor and partners web portals
- Communication Efficiency; Answer: Meaningful information available anytime. Anywhere, any mobile device
What are some of the technology challenges Property Managers face, when selecting Software. Listen to Michael Mullin, President of IBS Totowa, N.J; panel member at the recent NYC Real Estate Expo. He spoke eloquently about 2 areas when it comes to selecting ERP software for the Property Market. In his words there is 1. “Real estate tech stack” and 2. “Cybersecurity threat”. What are the available depth of the software modules included in tech stack? Here we go. Tech stack includes functions that automate accounting, budgeting, leasing, legal, workflow tracking and reporting, contract management, building management, and not to forget sales & marketing. Actually seamless flow of data across all business functions. Robust ERP Software essentially should fulfill all the requirements of business value chain. And what is the big deal about cybersecurity. The big issues have of do with Fraud/Embezzlement and Ransom. Talented hackers are able to penetrate and keep ahead in spite of sophisticated malware programs. Companies do not have to feel helpless. Prevention is key by combining both data and people centered security.
How does Acumatica play a significant role in the Property Management segment?The key to success for Acumatica lies in the early and significant investments it made in the xRP platform that drives the Cloud based ERP Solutions. IBS mentioned earlier introduced Imperium Powered by Acumatica, as the go to Single Source of Truth offering for property managers. “Customers who want to stay competitive need flexible, responsive technology to execute their long-term business strategies,” said Christian Lindberg, vice president of partner solutions at Acumatica. “Our ACA label is built to help customers find applications capable of delivering that. We’re proud to recognize Imperium as an Acumatica-Certified Application. It masterfully utilizes the Acumatica platform to meet customers’ growing business demands.” “Imperium extends the power of Acumatica’s cloud ERP product with an industry-specific, fully integrated lease management/accounting system,” Mullin explained. “It is intended to serve as the core of a real estate entity’s ‘tech stack,’ housing enterprise data and interfacing with third-party products across multiple services categories.”
What can you expect from Advanced Solutions and Consulting? Advanced Solutions and Consulting won the Acumatica 2017 MVP VAR award. Please contact Jim Carroll, jcarroll@solutionsco.com, and we are ready to take care of Property Managers both large and small in size.