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Yardi Corom
In 2004, Yardi opened its doors in Glen Head, New York as part of the BJ Murray acquisition. The team of 16 employees set out to define a course for the fledgling office.
“We faced the challenge of merging functionality, converting client platforms and creating a shared culture,” recalls Richard Malpica, Vice President and General Manager, Eastern US, Sales at Yardi.
“I don’t know if there was an official strategy for [merging cultures]. I think we made it clear, from a Yardi perspective, that the company was committed to integrating the group and growing together,” says Malpica. “It was really a matter of understanding people’s skills and desires and plugging them into our framework. They can create a new trajectory for a long-term career with the company.”
Over a span of several years, the New York office steadily found its way. Employees discovered new applications for their talents and practical ways of supporting one another along the journey.
In addition to merging corporate cultures, Yardi found itself adapting to the collective New York culture. The market proved to be rich with opportunity but difficult to conquer.
For the Santa Barbara-based company, the challenge of the New York market was three-fold:
First, the company had to establish a local presence and reputation. “There is a New York thing, like anything from anywhere else is kind of irrelevant, right?” said the New York native. “New York clients like to know that you can jump on a train, get in a car, and be there in the afternoon or tomorrow morning. Why do you have to get anything from anywhere else? Why isn’t it here?”
Once a local flavor is established, Yardi strived to form relationships in a market where loyalties are strong and tough to penetrate.
“New York clients are the most demanding but they’re also extremely loyal. Once you get through the difficulties, the relationships are very, very strong,” Malpica says.
Lastly, client expectations challenged Yardi to develop more robust and flexible software. In one of the nation’s most real estate-centric cities, delivering a responsive product was critical.
“Because of the demanding nature of New York clients, they strongly drive what we do here. Whether it’s New York functionality or things that they don’t just accept. They push us to do more and be more. It makes us better,” reflects Malpica.
Yet the challenges that he and his team overcame have transformed the branch into one of the highest grossing regions in the company. In 14 years, local revenues have multiplied five times. The staff is four times larger than 12 years ago.
The New York office has now relocated from Glen Head to a 27,000-square-foot space in Long Island. The branch will soon welcome specialty teams, such as investment management practice groups that will form close relationships with local clients. The proximity to New York City will foster stronger bonds, promote product development, and further establish Yardi’s presence in the market.
It has been a difficult road. As Malpica recently expressed to his team:
“I had a prospect tell me recently that ‘Yardi owns the New York market.’ I just smiled inside knowing how we got here. We arrive at this moment because of YOU! You stayed late and closed the case. You drove here in the snow. You missed your flight and slept at the airport. You woke up at 4AM to get the PowerPoint just right. You absorbed a client being irrational and angry, but kept smiling and solving. You helped the person next to you who was still learning. For all of that I really want to say thank you.”
