How to Choose the Right Property Management/Accounting System
And How That System Can Serve as the Core of Your Tech Infrastructure
ATTENTION commercial real estate owners and operators:
Whether your company is large or small, a robust property management/accounting system belongs at the center of your technology infrastructure – where it can provide real value for your business. Consider, for a moment, the benefits that today’s cutting-edge products deliver.
Leveraging the Cloud
Positioning your company’s property management/accounting function in the cloud will enable your team to take full advantage of our increasingly mobile and interconnected world. Look for a system that provides a full financial management and reporting suite – including deep functionality in the areas of escalations and recoveries, robust lease abstracting, and utility and tenant service billing features for multi-family, commercial, and other specialized markets.
Providing Seamless Integration
The best property management/accounting systems on the market today offer seamless, multi-cloud integrations with other top software products across a range of real estate services categories. Core systems that connect multiple cloud-based apps, allowing them to “talk” to each other, are helping to deliver a more cohesive operational overview than ever before.
The Big Decision: What System Is Right for My Company?
What should you look for in a property management/accounting system? We’ve put together a handy checklist to guide your decision-making process. It is based on the most common questions we get from prospective IBS clients.
PROPERTY MANAGER’S ERP CHECKLIST
- Can you deploy the software across multiple platforms: SaaS, public and private cloud, and on-premises models? Does it provide the option of moving between these platforms?
- Can you access the software via any device, any operating system, anytime and anywhere?
- Does the fee cover an unlimited number of users, properties and units?
- Are role-based setup and security included?
- Can you get real-time connectivity, APIs, a web services platform to other industry-specific applications, payment processing, credit checks and application processing?
- Are workflows, alerts and a real-time dashboard part of the package?
- Are self-service owner and renter portals provided?
- Are integrated CRM and work order modules included?
- Does the software integrate with Office 365?
- Does the vendor offer comprehensive training and ongoing support?
With nearly four decades of industry experience, IBS is a recognized resource for commercial real estate organizations of all sizes. We would greatly appreciate the opportunity to answer your questions and show you how we can help your company get the most of its technology infrastructure. Our flagship solution, Imperium Powered by Acumatica, is a fully scalable property management and accounting system designed to serve as the core of the real estate technology stack. Learn more here.