Case Study
Property
Streamline property management
Overview
With over 250 touchpoints in property (excluding Hospitality), our solution sets help property managers and owners to meet the needs of diverse stakeholders from enabling individual property managers to invoice and collect rentals, utilities and management charges at tenant level, to providing consolidated management reports spanning many diverse properties and geographies for the building’s owner(s) and management companies. The systems are built to be deployed on-premise or in the cloud and are supported by our expanded solution sets, including Property, Business Intelligence, Financial, Workflow, Human Resources and Club Membership for ad hoc maintenance projects. Additionally we can also provide systems to manage “unit sales” for new apartment buildings.
Below is a small sampling of FlexSystem solution for Property industry.
Property Management
Background and Key Issues
A global Property Management Company with over 45,000+ employees and over $3.5B revenue, operating across Asia Pacific managed invoicing and common services for over 100 geographically dispersed buildings, currently faces key issues as below:
- Manage invoicing and cash receipts, including common services, for 100 separate buildings
- Achieve granular management reporting at the individual tenant and building level, as well as by investor groups
- Ensure completeness and accuracy of billings for all stakeholders
- Reduce complex administration that is currently prone to manual error
- Resolve bottlenecks to create a smooth cash collection process
- Address language barriers for multi-offshore stakeholders
- Establish a robust flow of management information and analytics
Needs and Challenges
04.
Reports to be in multiple languages and currencies
06.
No easy way to assess longer term rental trends
FlexSystem Solutions Applied
Business Intelligence
Enabled interactive query tools for business managers to investigate patterns and gain deep insights into long-term rental trends and performance.
Financial Management
Streamlined invoicing and cash receipts management across all 100 buildings. This ensured completeness and accuracy of billings for all stakeholders.
Financial Query
Automated data extraction and generated scheduled/ad hoc management reports in multiple languages and currencies, providing granular visibility.
Benefits and Results
Comprehensive visibility with drill-down reporting (tenant/building/group)
Timely scheduled and ad hoc reports generated for diverse property owners/locations
Interactive query tool provides deep insights for managers
Data is automatically extracted and presented consistently
Users can easily assess longer-term rental trends
Architectural Design
Background and Key Issues
A leading provider of architectural products and services for the building industry with over 150 global employees, is grappling with significant challenges regarding budgeting revisions and versioning control, currently faces key issues as below:
- Budgeting accuracy & process efficiency
- Budgeting revision & versioning issues
- Budget data maintained in spreadsheets
- Inconsistent budget entry in spreadsheets
- Updating issues in spreadsheets
- No systematic budget operation
- No Audit Trail
Needs and Challenges
03.
Budget data maintained in spreadsheets
04.
Prone to human errors when linking too many spreadsheets
05.
Different spreadsheet versioning by users complicating budget consolidation process
06.
Too many formulae linkages between spreadsheets resulting in slow updates
07.
Loss of tracking ability of budget data and lack of tight enough controls
08.
Difficulty to develop standard budgeting operating procedures and guidelines
09.
Unable to deploy effective automation of computations as well as validation of data/entry
10.
Require higher accuracy & efficiencies in budget data & budgeting management
11.
Budget compilation process reduced from 1 to 2 days to 1 to 2 hours
FlexSystem Solutions Applied
LedgerBase
Unified and centralized all budget forms, eliminating the reliance on linked spreadsheets. It established a systematic budget operation with tight controls and an audit trail, enabling quarterly budgeting and minimizing data errors.
Benefits and Results
Every employee is now contributing to budget data
Able to produce budgets quarterly with budget versioning
Errors around budget data minimised with proper budget operational processes
Budget forms unified and centralised
Budget reports simplified & straight forward as directly retrieved from the system
Every budget updated can be tracked & monitored with certain control deployed
Streamlining budgeting operation and able to established with SOP i.e. standard operation procedure
