Real Estate Investment Trusts Accounting Software: More Important Than EverThe post-pandemic period looks to be robust for wealth and asset management firms - but also risky. An equal mix of uncertainty and optimism in regards to the economy will, predictably, lead investors to rely more on trusted firms to make the best use of their money. But at the same time, a challenging economy, evolving regulations, and widespread unknowns will put ongoing fiscal stress on firms as well.
In a recent survey of wealth and asset management firms in regards to COVID-19, the top concern cited was the financial impact on operations, liquidity, and capital resources. Effective accounting will be crucial throughout the pandemic recovery, which will be difficult when many teams are still working remotely while dealing with the fallout of a year when nothing went as planned.
Key to the whole effort is the accounting software serving as the financial engine of the firm. The software currently in place may be too shallow or inflexible to handle the dynamic needs of accounting teams in 2021 and beyond. Great accounting software, by contrast, makes those same teams connected, efficient, and insightful exactly when it counts.
Take an honest look at your accounting software. Will it help you through this crucial recovery period or hold you back?
Sage Intacct – Optimized for REIT
Now more than ever before, real estate investment trusts need an accounting software that doesn’t just support their accounting needs, it optimizes them. That’s why we’ve seen a wave of interest in Sage Intacct – a financial management solution built for midmarket firms and tailored with features for the wealth and asset management industry as a whole. Some of these features include:
- The ability to run continuous consolidations across multiple entities located throughout the globe.
- A shared dimensional chart of accounts to serve as the “single source of truth” for everyone in the firm.
- Data dashboards that streamline analytics so decision makers always have the best numbers to reference.
- Collaborative compliance tools that make accounting easier to audit and less prone to error.
This list barely scratches the surface of what Sage Intacct can do, but it does make clear that Sage Intacct offers solutions uniquely suited to wealth and asset management firms. With Sage Intacct at their disposal, in-house accounting teams can improve efficiency, productivity, accuracy, and consistency even while working remotely. And since Sage Intacct automates or expedites so much of the work that normally occupies accountants (like consolidations), they can focus on higher level issues related to strategy or revenue generation.
Integrate Real Estate Management Software
You can also integrate your external systems with Sage Intacct. For instance, Nexudus is a leading management software for coworking spaces, flexible workspaces, and flexible offices. Equation Technologies has developed an integration with Nexudus. The integration imports invoices from Nexudus to Sage Intacct as well as Nexudus Members as Sage Intacct Customers. This integration reduces time-consuming duplicate entry and keystroke errors while increasing staff efficiency and visibility across the business.
Contact Equation Technologies to learn more about Sage Intacct or integrating your real estate management systems with Sage Intacct. Learn how we can help you grow your business and emerge from the pandemic stronger than before.