A leading real estate development and investment firm, specializing in acquiring, developing, and managing commercial properties, has successfully navigated the complexities of their market for years. Known for its expertise in office, industrial, and mixed-use properties, the firm sought opportunities to invest in assets with high value-add potential, aiming to improve or reposition them for even higher returns. Their day-to-day operations include acquiring underperforming properties, renovating or redeveloping existing structures, securing new tenants, and optimizing property management strategies. However, the real estate firm faced significant challenges due to the complexity of managing multiple properties.
Identifying Operational Challenges
Some of these challenges faced by the firm included effectively operating a homeowners’ association (HOA) and the need to track apartment leases. Additionally, they required a replacement for their Sage 100 system to a solution that better fit their growing business, which involved numerous workarounds. Some key features they wanted to see in their new software included improved visibility across various locations, departments, and sub-departments, the ability to perform daily reporting, and the necessity to track occupancy rates, statistical accounts, hours worked, rounds of golf, and spa treatments.
Finding a Solution with Sage Intacct
To address these operational difficulties, the firm turned to SWK for support, where we proposed a comprehensive Sage Intacct solution. The implementation included Sage Intacct Financial Management, providing the advanced accounting functionalities they needed. The Multiple Entity Package was also integrated, allowing them to manage financial data across various properties seamlessly. Additionally, Velixo Reporting was implemented to enhance its reporting capabilities, providing detailed and customizable reports essential for strategic decision-making.
Achieving Client Success
The implementation of Sage Intacct enabled the firm to retire its older systems and achieve the enhanced operational efficiency they were looking for. They now benefit from real-time visibility into their financial data – allowing them to track occupancy rates, hours worked, and other key metrics with precision. The ability to manage multiple entities efficiently and gain valuable insights into their operations has transformed their approach to real estate investment and management, ensuring they can continue to create value through strategic investments and effective management of their commercial real estate assets.
Let’s Find a Solution Together
By partnering with SWK, you’re taking a step towards success. Contact us today and learn how we commit to enabling success for every one of our clients.