Technology Upgrade Needed
Yardi Commercial Suite
Improved Tenant Service
New Dimensions for Budgeting
“Advanced Budgeting & Forecasting strengthens our control of the budgeting process by making it easy to reforecast quarterly. Property accountants, managers and others can work their pieces of the budget simultaneously. In addition, the solution helps us streamline rent calculations, depreciations and other factors,” Attanucci said.
She added, “We do our budgets to a degree that would make most people lose their minds. The level of detail we expect to see and drill into equals or exceeds anybody else’s, and the integrated solution from Yardi makes that possible.”
New Consolidation, Drilldown and Reporting
“Yardi Investment Management also helped us with the special way we consolidate our legal entity structure. If an asset was 100% owned we had to add across and make manual consolidation entries. If it was 50% owned, we multiplied it out by 50%, booked it as a consolidating entry and added all of the consolidating entries. Now we have a much more efficient rollup structure. In addition, role-based access to Voyager lets the tax people see what went through any given legal entity,” Attanucci said.
Granger added, “Yardi Investment Management gives us the ability to look from the top down, which is really helpful—we can see what we’re reporting to the SEC on our consolidated statements, and we can see individual property information. We can take those numbers, drill down and create Yardi spreadsheet reports to see what’s coming from certain entities and properties.
“We’re also pleased with the ability to deliver a battery of reports to upper management every month. It no longer takes days to get them together, and we don’t have to call the accountants for the information.”
“Yardi Construction Management gives us visibility into our construction budgets that we couldn’t get from the spreadsheets we previously used,” Granger said. “We also have process consistency—development managers no longer keep track their own way, with different details and update schedules. With construction integrated into the general ledger, we have consistent reporting and workflows for budgeting and approvals across the board.”
“We have good systems and a solid balance sheet in place. This combination gives us the means to pursue acquisitions aggressively. We can respond and analyze opportunities faster, and close deals more quickly,” Attanucci said.