Software Platform Inquiry

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  • #2793
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    Eric Harvey
    Participant

    I have a software platform question.  We utilize the following software for our family of companies:

    • Abila MIP – for nonprofit fund accounting and real estate development accounting
    • OneSite/RealPage – for our property management and portfolio accounting
    • QuickBooks – for a social enterprise

    We are trying to find a single solution that can handle all of these various functions.  We are in the initial phases of exploring Yardi, but I’m wondering what the collective wisdom of the group recommends.  Your thoughts would be greatly appreciated.

    Thanks,

    Eric

    • This topic was modified 1 year, 2 months ago by AvatarEric Harvey.
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    • #3420
      AvatarMATT HANNIGAN
      Participant

      Hi Eric,

      I’ve been on YARDI before, and it is a pretty good bet for what you are describing. We were happy with it.

      Just two words of caution (and you may already know these):

      1. How well the implementation is done is HUGE. Two different sites can implement the same sw package, and one is a big success and the other a disaster, all depending on how well the implementation and configuration were done. So, plan carefully.

      2. Negotiate the price of the sw and support effectively. Users pay way too much for sw. The vendor may say they can’t negotiate. Nonsense. Once you are on a particular sw package, especially a “total solution” like YARDI, you are married to it. SW vendors know this and exploit it. We were paying something like $120K per year for YARDI as a SaaS. But you have to ask if the sw pkg is bringing $120K of value into your company . . . ? This also includes negotiating what sort of support you are going to get. (I was happy with YARDI support when I was on YARDI in 2018.) Also, there should not be any “automatic price increases” in your sw (ERP) contract. If sw vendors want more money, they can & should earn it with increased value and services.

      I’ve done over 50 ERP sw implemenations, and the above are the 2 most frequent problems.

      Good luck!

      Matt

    • #3264
      AvatarSteve Herman
      Participant

      Yardi works for us for everything. However, the construction module is a little weak in the area of multi-funded projects – the project managers use Excel, but on the accounting side, it does everything we need it to. For property management it works wonderfully. For corporate accounting, including fund accounting you can make it work using segments for grants. We have very few grants that we need to track but our problem comes in with not being able (or set up) to track grant time at the timesheet level in ADP so importing the payroll journal with the right grant segments has been tricky (but not necessarily a shortfall of Yardi’s). I honestly couldn’t be happier with Yardi and feel really comfortable that everything is in one system. That said, Yardi is a complex piece of software that requires someone well-versed in software system administration to set up and maintain on a regular basis.

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