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From the Ground Up: Scalable Software for a Start-Up Real Estate Development Venture

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How our Sage Intacct team guided a successful system implementation to account for and scale with the creation of a multi-use real estate development.

Client

A Louisiana real estate developer set out to create a high-end multi-use development in a quickly growing area with limited amenities nearby. This developer was a small organization with only a single accountant on staff. As the organization formed, the leadership team quickly realized that the systems in place for their other organizations, such as QuickBooks, would not be ideal for this new venture. They wanted to invest in a product that would allow them to rapidly scale their accounting function as the development came to fruition.

Challenges

Real estate developers have many unique requirements for accounting software, as these endeavors can include tracking phases from construction, rental of completed space, and even sale of the final projects. Our client’s management knew they needed a product that would allow them to easily report on diverse groups of data, such as lines of service, tracts of land, locations, and more as they evolved. They also required robust allocation functionality to efficiently spread common costs, such as lawn care and parking lot expenses, to customers based on an occupant’s square footage.  
 
The organization’s leaders carefully considered several systems, knowing this decision would be crucial for long-term success. The right system had to support the organization through rapid growth and support scalability so it would not have to undergo a major software conversion in just a few years. Additionally, this had to be easily manageable for a single accounting staff member. 

real estate buildings

Our client found a scalable system to support their growth: best-in-class accounting solution, Sage Intacct. They just needed help getting their new software running smoothly. 

Approach

During their search, the leadership team learned that EisnerAmper provides implementation and support services for Sage Intacct. After explaining their requirements and participating in a customized demo with our team, the client chose Sage Intacct as their new system. Our dedicated systems implementation professionals guided the organization through the implementation, software education, and ongoing support for their product questions and system growth.

Sage Intacct’s best-in-class solution provides several features to meet their needs, including:

  • Tracking multiple dimensions on each transaction
    • Lines of service
    • Tracts of land (projects)
    • Location
    • Customer
  • Robust and flexible financial reporting 
  • Analytics for quick decision-making
  • Open API for easy integrations in the future 
On top of Sage Intacct’s data capture and reporting flexibility, its open API allows for automated integrations with other cloud solutions in the future, such as a rental management solution, as the business continues to grow throughout its lifecycle. With such an integration, a best-in-class rental and contract management software could seamlessly transfer data to Sage Intacct for enhanced consolidated financial reporting and analytics, while providing high-quality support for our client’s customers. 
 
Working with EisnerAmper’s experienced implementation team allowed the client to implement best practices from the start. As the development project evolved through its natural progression, our team has continuously worked with the client to scale the system so that it continues to meet ever-changing needs. 

Results

Rapid implementation, low overhead costs, and an ongoing partnership.  

Sage Intacct’s configurable structure and support for start-up business operations, combined with our implementation team’s experience and deep understanding of the software, allowed EisnerAmper to complete a well-planned but speedy implementation over a four-week timeframe. By working together with our team to get off the ground so quickly, our client gained immediate system benefits with built-in scalability and robust features that the organization continued to rely on throughout its rapid growth phase.  
 
Once the development was active, we continued to work together to implement new modules—such as project costing—to capture each contract and easily distinguish between types of contracts (such as tract of land vs building). The project dimension also allows the organization to quickly report on financial data for each project individually or all projects together.  
 
Sage Intacct’s multi-entity and multi-dimensional features provided quick adaptability for this growing organization allowing for real-time, flexible financial reports and dashboards. These features allowed the organization to keep overhead costs low while taking advantage of the efficiencies Sage Intacct offers.  

Sage Intacct Cloud Accounting

EisnerAmper’s advisory team helps organizations select and implement financial management and accounting software to suit their needs. Our partnership with best-in-class software provider Sage Intacct enables us to improve our clients’ day-to-day experience through innovative software solutions and integrations.

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