Download PDF
BK Management's Efficiency Leap: Consolidating Accounting Operations with AppFolio
Technology Category
- Infrastructure as a Service (IaaS) - Cloud Databases
- Platform as a Service (PaaS) - Application Development Platforms
Applicable Industries
- Buildings
- Finance & Insurance
Applicable Functions
- Facility Management
- Procurement
Use Cases
- Inventory Management
The Challenge
BK Management, a property management company catering to student housing around Purdue University, was initially running its corporate accounting and property management accounting on two separate platforms. The company was using QuickBooks for corporate accounting and AppFolio for property management accounting. This lack of integration led to inefficiencies and workarounds as they had to run separate reports from both platforms and then attempt to consolidate the data. The process was clunky and time-consuming, preventing the company from achieving optimal efficiency in their operations.
About The Customer
BK Management is a property management company established in 2011 and based in West Lafayette, Indiana. The company manages over 1,200 units and has experienced a growth of 400 units in just one year. BK Management primarily caters to owners of student housing around Purdue University. The company's mission is to provide quality, affordable, and safe housing to students while continuing to grow the business. BK Management values efficiency and innovation in its operations, as evidenced by their decision to consolidate their accounting operations using AppFolio.
The Solution
BK Management decided to migrate all their accounting operations over to AppFolio. This move allowed them to have a single source of truth for all their accounting needs, eliminating the need for constant workarounds and dual entries. AppFolio's customizable GL codes, cloud-based nature, single entry feature, and owner portal significantly improved the company's workflows. The owner portal, in particular, was beneficial to property owners who appreciated the detailed reporting and the ability to receive ACH payments. AppFolio's continuous software innovation also allowed BK Management to become more efficient with each new feature added. For instance, the addition of eCheck payouts for security deposit returns, the ability to assign costs to different projects, and the creation of estimates for major renovations were all features that BK Management found extremely useful.
Operational Impact
Quantitative Benefit
Related Case Studies.
Case Study
Energy Saving & Power Monitoring System
Recently a university in Taiwan was experiencing dramatic power usage increases due to its growing number of campus buildings and students. Aiming to analyze their power consumption and increase their power efficiency across 52 buildings, the university wanted to build a power management system utilizing web-based hardware and software. With these goals in mind, they contacted Advantech to help them develop their system and provide them with the means to save energy in the years to come.
Case Study
Intelligent Building Automation System and Energy Saving Solution
One of the most difficult problems facing the world is conserving energy in buildings. However, it is not easy to have a cost-effective solution to reduce energy usage in a building. One solution for saving energy is to implement an intelligent building automation system (BAS) which can be controlled according to its schedule. In Indonesia a large university with a five floor building and 22 classrooms wanted to save the amount of energy being used.
Case Study
Powering Smart Home Automation solutions with IoT for Energy conservation
Many industry leaders that offer Smart Energy Management products & solutions face challenges including:How to build a scalable platform that can automatically scale-up to on-board ‘n’ number of Smart home devicesData security, solution availability, and reliability are the other critical factors to deal withHow to create a robust common IoT platform that handles any kind of smart devicesHow to enable data management capabilities that would help in intelligent decision-making
Case Study
Commercial Building Automation Boosts Energy Efficiency
One of the challenges to building automation is the multitude of non-interoperable communications protocols that have evolved over the years. Buildings have several islands of automation. Bridging the islands of different automation without losing the considerable investment in each specialized control network is the main focus in this solution.
Case Study
Protecting a Stadium from Hazardous Materials Using IoT2cell's Mobility Platform
There was a need for higher security at the AT&T Stadium during the NFL draft. There was a need to ensure that nuclear radiation material was not smuggled inside the stadium. Hazmat materials could often be missed in a standard checkpoint when gaining entry into a stadium.
