Doing the Math: A SmartSource Accounting Panel of Experts

By jsims Posted July 18, 2017

Doing the Math: A SmartSource Accounting Panel of Experts

Making the decision to outsource your accounting just may be the best thing you can do to build value for ownership. RealPage’s SmartSource provides outsourced property accounting services to owners and managers to deliver scalable infrastructure. Outsourcing your accounting means you receive on-time and accurate financials without the hassle of staffing and training an accounting team.

Here are highlights from our panel of multifamily leaders who share why they made the switch to SmartSource, the challenges they faced and their successful outcomes:

Alexandra Jackiw, President of Milhaus Management

“Our ability to get actionable data on time to make operational decisions is absolutely critical.If you have to slow growth so your accounting group can catch up—that’s totally backward.”

“HUD reporting can cause your eyes to glaze over. Receiverships are another kind of accounting. To be able to push that off to another entity to manage that process is invaluable.”

Jill M. Herron, Senior Vice President, Property & Asset Management at Flaherty & Collins Properties

“Now I have third party accounting team (RealPage’s SmartSource) that is a partner. They work for me and I’m able to deliver effectively to my management group and to my internal group as well.”

“The factors we considered when making the move to outsource were accuracy, replacement reserves, attracting new business and owner reports. Owner reports are the most important priority and they are are counting on this info to be accurate and on time. Anything less is detrimental.”

“We asked ourselves ‘What is it really costing us to run an accounting department?’ In the end, after moving to SmartSource, it’s proven to be the best decision our company has made with the value adds of accuracy and timeliness. The results have been outstanding.”

Ravi Malli, Vice President, Property Operations and Asset Management, Atlas Residential

“Investors have been impressed with our ability to deliver financials on time because of SmartSource—and having this financial integrity is key to our success. The SmartSource teams have the unique ability to expand and contract like an accordion to meet our staffing needs.”

“Our SmartSource report card revealed that we were not exercising best practices. The first time we got ours, it was all red. But SmartSource has the resources and the accountants who take the time to talk with our managers to show and show them how they can improve. Senior accountants actually come down and do seminars on best practices. It took awhile, but we finally got there and learning best practices has made our lives earlier.”


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