Automated Notifications Need Integration

The most highly advanced property management systems deliver notifications based on such critical dates as lease or option expirations, or on such user-defined criteria as reminders to post late fees or process vendor checks to take advantage of discounts.

In addition to critical date notifications, automated notification systems perform valuable internal audit functions. They deliver daily, weekly, or monthly notifications of such items as:

• Payables waiting for approval
• Financial periods not closed
• Batches left unposted
• Whether your NOI is within the acceptable standard
• Outstanding AR older than 30, 60 or 90 days
• Compliance tracking and notify system administrators of activities that do not follow
• Company policy.

One client who has gained an appreciation of automated notifications is David Burberry, assistant director, Information Systems, Client Solutions at Cushman & Wakefield. "No one can know everything that's happening all the time in 12,000 buildings," he says. "But with automated notifications generated by our Yardi property management system, we have a crucial tool for helping us keep track of critical dates."

Burberry also cited the notification system's value as an internal audit mechanism that keeps track of such activities as compliance with purchasing procedures and other Cushman & Wakefield policies. With such helpful features as grouping many reminders into a single e-mail and formatting that output for individual people, the notifications help Cushman & Wakefield keep vendors informed of payments, purchasing documents to be approved, and a number of other business and financial functions. "All our people in the field love the notifications," Burberry says.

As part of their integrated, end-to-end solution, top-line property management software suites provide standard notifications based on critical dates and other events and will also have a user-friendly setup to design your own. So rather than let that un-posted batch affect your financials, or miss that option deadline, let automated notifications keep you on track.