Fast forward to today. Your portfolio has grown and we’re talking about multiple groups of multiple investors. And it’s that dreaded first of the month and they are all waiting on those monthly financial statements that take you days to complete.
So, what do you do? Each month you have to hire temps to manage all those vendor invoices, and spend time applying that one invoice across 6-12 companies. That’s not all. With so many manual transactions taking place, sure there’s room for errors. And are you having to memorize a couple dozen passwords? What about security? Seriously, I hear this on the phone every day.
And when it comes to reporting to your investors, it’s the first of the month and they’re waiting on those monthly financial statements that take you days to complete. Ask yourself if any of the following sound familiar:
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Do your investors have a clear view on all investments? Or, are they calling and emailing wanting more precision geared answers?
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Are you able to find and extract critical information with just a few clicks?
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Are those tell-all reports polished and arriving like clockwork? Or, are your Financial Reports taking five days to hit your inbox? These crucial reports should take minutes, not hours or days to produce and deliver. If your team has to jump through siloed data hoops before they can complete these crucial reports, then how much longer before your investors have their answers?
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One investor with a single property? No worries. Easy breezy. One investor with multiple properties? Sure, you can handle that. A large group of investors holding multiple properties, each with varying percentages and terms. A larger portfolio, more variables, equals more elaborate and complex reports. Are you still going to meet that first of the month deadline? Probably not.
Spend time focused on value-added analysis and recommendations
If any of those scenarios sound familiar, then it’s time to consider an upgrade to a system that anticipates your needs and grows with you. You’ll find relief with Gravity Software® (Gravity). Gravity’s online accounting solution is built on the Microsoft Power Platform (aka Dynamics 365). Gravity has developed an amazing multi-company model that can dramatically increase your management firm’s productivity.
It’s nothing new: you’re only as successful as the accuracy and reliability of your data. For each individual entity, large or small, you’re having to make important decisions that affect the value of your investors’ portfolios. With accurate data, you’re increasing each portfolio’s net worth and overall return; and just as important, you and your investors are happy. However, with inaccurate data, you’re playing a dangerous game with other people’s money.
[Related: 5 Multi-Company Features You Didn't Know Gravity Has]
With Gravity, those problems evaporate as all of your multi-company data is securely consolidated into one database and on one platform. You can provide your investors with read-only licenses so they have real-time dashboards with key metrics of their growing portfolios. It’ll be a win-win situation because each investor will have solid confidence in your management firm.
If your company is running multiple entities each in it's own database, it's to set up an online demo so you automate your business financials.
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