What Our Customers Say
“We’ve been waiting for a solid property management system for Microsoft Dynamics GP for years. Previously using software that is separate from Great Plains, we had quite a few problems with data integration. With the strong financial management and reporting capabilities of Great Plains, Binary Stream’s Property Manager software made it very easy for us to manage our finances and properties all in one database without the headaches of data synchronization”
~ Allan Bernheimer, Woodgreen Management, Inc.
Established Property Management Firm sets sights on Microsoft Dynamics GP
With a large and varied portfolio of properties to handle, this property management firm was struggling to stay on top of their growing business. Managing over 800 tenant lease agreements for commercial, residential and retail properties in a CTI accounting application, they had significant real estate accounting and more general property management software needs. Without any specific toolset to manage their real estate leasing, they were continually struggling to track and bill for charge escalations, cost recoveries and complex percentage-of-sales calculations for the retail leases.
Coming from an aging accounting and payroll system set-up, they were looking for an upgraded ERP package that would enable them to simplify their working environment to streamline processing, ensure strong reporting and avoid the added work of system integrations.
Fully Integrated Property Management and ERP in Microsoft Dynamics
The biggest benefit for the property management firm of the Microsoft Dynamics GP and Binary Stream Property Site Management platform was its tight integration which enabled it to function out of one consolidated database. This meant that both the accounting and property management teams could work from one data set, reducing duplicate data entry and human errors that occurred in this process.
Increasing Productivity & Tracking
With a unified system for both property managers and accounting personnel various workflows could be streamlined to enhance productivity in both departments. Templates and copy options would speed up lease creation. With several batch processes for invoicing and invoice delivery, this document creation and management would be dramatically simplified. Numerous charges could be applied to each lease and escalations to these items could be fully automated and applied. Tracking of variable charges, such as utilities could be fine pointed to exact use amounts and applied specifically to tenants to recoup costs.
Simplified & Enhanced Reporting
By maintaining one shared dataset, reporting would be greatly simplified and extended. Microsoft Dynamics GP offered several base financial reports that could be customized to suit user needs. This would greatly enhance their real estate accounting practices and help them meet their accounting requirements. Within the Property Site Management application inquiries and reports were available to show vacancies, profit & loss, charges, rent roll, delinquencies and many other analytical breakouts by territory, building, sites or units. With all inquiries exporting to excel, they knew they would be able to take system data and map it out in a variety of different ways to find the answers they needed.
With a review of the software nearing completion, the property management firm was hopeful that this solution would meet their needs. With excitement growing, they did decide upon this option and moved forward to put Microsoft Dynamics GP for Property Management into action!