4B — October 30 - November 12, 2020 — Owners, Developers & Managers — M id A tlantic Real Estate Journal


O wners , D evelopers & M anagers

By Michael Mullin, Integrated Business Systems (IBS) Propertymanagement, construction&development firms benefit from cloud accounting functionality


features. Integration. What good is moving to the cloud without easy integration? With cloud- based software, you can easily integrate your accounting sys- tem with modern application program interface APIs, such as Smartsheet, Procore and Hyphen Solutions. 2. Real-time Advantages A cloud setup delivers real- time management functional- ity – a necessity in today’s business climate. For example, a cloud accounting system updates data immediately on entry and provides all system users with digestible, usable information for data-driven decision-making. As a result, your team becomes more agile, responsive and mobile. And that mobility permits remote and real-time collaboration with customers, suppliers and teammembers, who can access the same data and toolsets in the format best suited to their needs. These can include self- service reports, dashboards and portals. Leveraging up- to-date information for opti- mal decision-making helps improve your ROI and makes good business sense. 3. High-value Applications Property management, con- struction and development executives can choose from two types of cloud software solutions. A deep solution includes applications for finan - cials, contracts, budgets and costs, while a broad solution covers a range of areas such as construction accounting, purchasing and customer rela- tionship management (CRM). Cloud-based management solutions can help you and your employees enhance pro- ductivity by offering workflow, document management and other resources. And you can find the right pricing structure for your business based on resources used rather than user-based licensing. Cloud ERP: Your Solution for the Present and the Future Cloud property manage- ment/accounting and construc- tion management/accounting systems continue to be smart investments. In fact, Gartner, the world’s top research and consulting firm, projects that “at least half of large enter- prises will successfully imple- ment a software-as-a-service strategy by 2025 and run their core ERP systems in the continued on page 6B

he trend toward re- placing on-premises accounting technol-

further behind while their competitors adopted modern, industry-specific enterprise resource planning software that can be maintained and accessed 24/7 from anywhere on any device. When CO- VID-19 lockdowns kicked in, so did a skyrocketing urgency to establish fully function- ing remote operations. But beyond enabling businesses simply to keep on operating, their “forced” move to a web- based world will bring lasting benefits. Three Ways Cloud ERP Systems Boost a Business 1. Basic Cloud Benefits

cation functions on all devices using the same interface. Automatic upgrades. Up- dates run unnoticed in the background, meaning you don’t have to remember to upgrade your accounting or management software or be concerned about disruptions that cause costly downtime. Reliability and security. Leveraging SaaS can reduce IT costs and increase infrastruc- ture security. Cloud-based solution providers go a step further, offering software plus value-added services such as security, business continuity and disaster recovery (BCDR)

Scalability and flexibil - ity. You can implement cloud solutions quickly and easily, and realize immediate opera- tional improvements. You pay only for the resources you need at any given time, so you can scale up or down to meet busi- ness objectives with maximum cost efficiency. Consistency. Your entire team can run the same ap- plication anytime, anywhere. This breaks down information silos, delivering consistent, up-to-date information with minimal effort. Out of the office and using a tablet? No problem. The software appli-

o g y w i t h c l o u d a n d s o f t w a r e - as-a-service (SaaS) im- p l eme n t a - t i o n s wa s already well u n d e r w a y be f o r e the global pan-

Michael Mullin

demic arrived. Many slow-to- adopt property management, construction and development organizations were finding themselves left further and

Integrated Business Systems and Acumatica provide the best business management solution for transforming your company to thrive in the new digital economy. Connected Business. Delivered.


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