Talygen, a leading innovator in business management automation since its 2009 launch, provides a complete IT Infrastructure Management Software solution: comprehensive and designed to streamline your business operations. It enhances your efficiency – empowering your business for optimal growth.
For real estate investors and property managers, handling finances and accounts takes a lot of time to complete, and there is always a chance for errors. Many continue to use spreadsheet solutions and manual processes to handle vital tasks such as income and expense tracking, financing reports, and insights on property cash flows.
Specialized property management and accounting software aims to solve these challenges through automated tracking, consolidated reporting, and seamless integrations. Leading solutions sync with bank accounts and bill pay platforms to import income and expenses automatically rather than rely on manual entry. This streamlines reconciliations to just minutes rather than hours.
Native integrations between accounting, bank feeds, and bill payment enable these automation benefits. Syncing these systems eliminates duplicate data entry and reduces reconciliations to exception handling. Industry surveys indicate that property managers save approximately 8-10 hours monthly after implementing integrated property management and accounting software.
In addition to automation, property management accounting software delivers better access to real-time financial insights. Managers can view consolidated reports and dashboards that roll up high-level property financials, including profit and loss, budgets vs. actuals, and cash flow. Drilling down into individual properties, units, and transactions is also simplified for tracking performance.
This real-time visibility enables proactive management rather than reactive fire drills. Potential issues can be identified early based on budget deviations, unusual expense spikes, or cash flow health metrics changes. Managers can drill into details to diagnose and address problems before they spiral.
Having unified visibility across the portfolio also empowers better decision-making. Investors can easily track performance trends to optimize capital allocation between properties. Managers can leverage consolidated data to negotiate better rates with vendors. Maintenance and renovations can be strategically timed to manage cash flow.
