<?xml version="1.0" encoding="UTF-8" ?><!-- generator=Zoho Sites --><rss version="2.0" xmlns:atom="http://www.w3.org/2005/Atom" xmlns:content="http://purl.org/rss/1.0/modules/content/"><channel><atom:link href="https://www.kriyago.com/blogs/tag/finance/feed" rel="self" type="application/rss+xml"/><title>KriyaGo - Blog #finance</title><description>KriyaGo - Blog #finance</description><link>https://www.kriyago.com/blogs/tag/finance</link><lastBuildDate>Wed, 22 Apr 2026 03:47:29 -0700</lastBuildDate><generator>http://zoho.com/sites/</generator><item><title><![CDATA[Smart Buildings, Dumb Finance: Connecting IoT to P&L | KriyaGo]]></title><link>https://www.kriyago.com/blogs/post/smart-buildings-dumb-finance-connecting-iot-to-p-l-kriyago</link><description><![CDATA[<img align="left" hspace="5" src="https://www.kriyago.com/Smart-Buildings-Dumb-Finance-Connecting-IoT-Sensors-to-Your-P-L_Squr.jpg"/>Smart buildings generate massive IoT data, but finance can’t use it. Learn how connecting sensors to P&L unlocks ROI, ESG, and NOI insights.]]></description><content:encoded><![CDATA[<div class="zpcontent-container blogpost-container "><div data-element-id="elm_sEE3tTxORfO2yjjZtJgNPQ" data-element-type="section" class="zpsection "><style type="text/css"></style><div class="zpcontainer-fluid zpcontainer"><div data-element-id="elm_zfdUUJM_T1mQahqilxPMQw" data-element-type="row" class="zprow zprow-container zpalign-items- zpjustify-content- " data-equal-column=""><style type="text/css"></style><div data-element-id="elm_P3i3QH2VQ26ZX584B-nk5w" data-element-type="column" class="zpelem-col zpcol-12 zpcol-md-12 zpcol-sm-12 zpalign-self- "><style type="text/css"></style><div data-element-id="elm_B2pewTihAmM0Vj6CjCck6Q" data-element-type="image" class="zpelement zpelem-image "><style> @media (min-width: 992px) { [data-element-id="elm_B2pewTihAmM0Vj6CjCck6Q"] .zpimage-container figure img { width: 1110px ; height: 237.61px ; } } </style><div data-caption-color="" data-size-tablet="" data-size-mobile="" data-align="left" data-tablet-image-separate="false" data-mobile-image-separate="false" class="zpimage-container zpimage-align-left zpimage-tablet-align-center zpimage-mobile-align-center zpimage-size-fit zpimage-tablet-fallback-fit zpimage-mobile-fallback-fit hb-lightbox " data-lightbox-options="
                type:fullscreen,
                theme:dark"><figure role="none" class="zpimage-data-ref"><span class="zpimage-anchor" role="link" tabindex="0" aria-label="Open Lightbox" style="cursor:pointer;"><picture><img class="zpimage zpimage-style-none zpimage-space-none " src="/Smart-Buildings-Dumb-Finance-Connecting-IoT-Sensors-to-Your-P-L-Rect.jpg" size="fit" data-lightbox="true"/></picture></span></figure></div>
</div><div data-element-id="elm_wUSzwu4nQyGBmbA_ytPx6A" data-element-type="text" class="zpelement zpelem-text "><style></style><div class="zptext zptext-align-left zptext-align-mobile-center zptext-align-tablet-center " data-editor="true"><p></p><div><p style="margin-bottom:12pt;"><span>The Edge in Amsterdam has 28,000 sensors. It knows when you arrive, adjusts lighting to your preferences, optimizes HVAC based on occupancy patterns, and tracks energy consumption at the individual workstation level. It's been called the smartest building in the world.</span></p><p style="margin-bottom:12pt;"><span></span></p><div><p style="margin-bottom:12pt;"><span>But here's the question nobody's asking: can the CFO connect any of that sensor data to the building's financial performance?</span></p></div><p></p></div><p></p></div>
</div><div data-element-id="elm_61Ke8TBYbxTW4vALwX0eyA" data-element-type="heading" class="zpelement zpelem-heading "><style></style><h2
 class="zpheading zpheading-style-none zpheading-align-left zpheading-align-mobile-left zpheading-align-tablet-left " data-editor="true"><span><span><span><span>The IoT Explosion in Commercial Real Estate</span></span></span></span></h2></div>
<div data-element-id="elm_RPGsxUgR0JlckPPsjT2P_g" data-element-type="text" class="zpelement zpelem-text "><style></style><div class="zptext zptext-align-left zptext-align-mobile-left zptext-align-tablet-left " data-editor="true"><p></p><div><p style="margin-bottom:12pt;"><span>The numbers are staggering. Gartner predicts more than 4 billion connected IoT devices in commercial smart buildings by 2028. JLL reports that smart building technology investments have grown 30% annually over the past five years. Deloitte's <a href="https://www.deloitte.com/us/en/services/consulting/services/smart-buildings-solutions.html"><span style="text-decoration-line:underline;color:rgb(48, 4, 234);">Smart Buildings Solutions practice</span></a> describes modern buildings as &quot;living systems equipped with sensors and AI-driven capabilities that boost efficiencies, effectiveness, safety, and the user experience.&quot;</span></p><p style="margin-bottom:12pt;"><span>Property owners and operators are investing heavily in this technology. Occupancy sensors optimize space utilization. Environmental monitors track air quality and temperature. Energy meters capture consumption at granular levels. Predictive maintenance systems monitor equipment health. Digital twins create virtual replicas of physical assets.</span></p><p style="margin-bottom:12pt;"><span>The operational benefits are real. Buildings with comprehensive IoT deployments report energy savings of 20-30%, reduced maintenance costs, and improved tenant satisfaction scores. Technology works.</span></p></div><p></p></div>
</div><div data-element-id="elm_VBVwG15gwtXv6zWMUy8Qdg" data-element-type="heading" class="zpelement zpelem-heading "><style></style><h2
 class="zpheading zpheading-style-none zpheading-align-left zpheading-align-mobile-left zpheading-align-tablet-left " data-editor="true"><span><span><span><span>The Financial Disconnect</span></span></span></span></h2></div>
<div data-element-id="elm_rb8PTHqzGg4bXc3ICBs71w" data-element-type="text" class="zpelement zpelem-text "><style></style><div class="zptext zptext-align-left zptext-align-mobile-left zptext-align-tablet-left " data-editor="true"><p></p><div><p style="margin-bottom:12pt;"><span>But there's a problem. All of this sensor data lives in building management systems, IoT platforms, and operational dashboards, completely disconnected from financial systems. The facilities team knows that Building A consumed 15% less energy this quarter. The finance team sees a utility expense line item in Yardi or MRI. Nobody can easily connect the two.</span></p><p style="margin-bottom:12pt;"><span>This disconnect creates real business challenges. When the CFO asks, &quot;What's the ROI on our smart building investment?&quot; the answer requires manual data gathering from multiple systems, spreadsheet gymnastics, and assumptions that may or may not reflect reality. When investors want to understand how ESG initiatives affect NOI, the analysis takes weeks rather than minutes.</span></p><p style="margin-bottom:12pt;"><span></span></p><div><p style="margin-bottom:12pt;"><span>McKinsey's research on smart building adoption found that while 90% of real estate executives believe IoT will transform their industry, fewer than 20% have successfully connected operational technology data to financial outcomes. The sensors are smart. The finance systems are robust. But they don't speak the same language.</span></p></div><p></p></div><p></p></div>
</div><div data-element-id="elm_BAFnXx1h6eqpS2aXUlVZ8Q" data-element-type="heading" class="zpelement zpelem-heading "><style></style><h2
 class="zpheading zpheading-style-none zpheading-align-left zpheading-align-mobile-left zpheading-align-tablet-left " data-editor="true"><span><span><span><span>The Missing Translation Layer</span></span></span></span></h2></div>
<div data-element-id="elm_AMfgLcu_PzRSlM3YDdjoGg" data-element-type="text" class="zpelement zpelem-text "><style></style><div class="zptext zptext-align-left zptext-align-mobile-left zptext-align-tablet-left " data-editor="true"><p></p><div><p style="margin-bottom:12pt;"><span>The challenge isn't technical capability, it's architectural. IoT platforms generate time-series data: temperature readings every five minutes, occupancy counts every hour, energy consumption in 15-minute intervals. Financial systems work with transactional data: monthly utility invoices, quarterly operating expenses, and annual capital budgets.</span></p><p style="margin-bottom:12pt;"><span>Connecting these worlds requires more than an API call. It requires intelligent aggregation, rolling up millions of sensor readings into financially meaningful metrics. It requires normalization, converting kilowatt-hours into dollars and occupancy percentages into revenue per square foot. It requires attribution, allocating shared building costs to individual tenants or business units based on actual usage patterns.</span></p><p style="margin-bottom:12pt;"><span>This is middleware work. Purpose-built integration that understands both the operational language of building management systems and the financial language of real estate ERPs. Without it, smart buildings generate impressive dashboards that never reach the boardroom.</span></p></div><p></p></div>
</div><div data-element-id="elm_mOw0iikP2OZYpzq2ntN0Uw" data-element-type="heading" class="zpelement zpelem-heading "><style></style><h2
 class="zpheading zpheading-style-none zpheading-align-left zpheading-align-mobile-left zpheading-align-tablet-left " data-editor="true"><span><span><span><span>From Data to Decisions</span></span></span></span></h2></div>
<div data-element-id="elm_V7Nlu_L1BbQ-lVS5ftYVQw" data-element-type="text" class="zpelement zpelem-text "><style></style><div class="zptext zptext-align-left zptext-align-mobile-left zptext-align-tablet-left " data-editor="true"><p></p><div><p style="margin-bottom:12pt;"><span>When IoT data flows into financial systems, new capabilities emerge. Energy consumption patterns inform utility accruals with unprecedented accuracy. Occupancy data drives more precise CAM reconciliations. Equipment runtime hours trigger depreciation adjustments and maintenance reserves. Tenant comfort metrics become variables in lease renewal models.</span></p><p style="margin-bottom:12pt;"><span>Consider a practical example. Your building management system indicates that the HVAC equipment in Building C is operating 40% higher than comparable assets. Without financial integration, this is an operational data point. Economic integration automatically triggers a variance flag in your maintenance budget, updates your capital planning model to reflect potential replacement timing, and adjusts your property NOI forecast.</span></p><p style="margin-bottom:12pt;"><span>CBRE's research on brilliant building ROI emphasizes that value realization depends on &quot;closing the loop between operational improvements and financial performance.&quot; The technology that closes that loop is integration infrastructure, not more sensors.</span></p></div><p></p></div>
</div><div data-element-id="elm_LErXDxZhmGIiDfQxsXzQvg" data-element-type="heading" class="zpelement zpelem-heading "><style></style><h2
 class="zpheading zpheading-style-none zpheading-align-left zpheading-align-mobile-left zpheading-align-tablet-left " data-editor="true"><span><span><span><span>The ESG Imperative</span></span></span></span></h2></div>
<div data-element-id="elm_XtmeEGAfHITAyNKhqCpB9Q" data-element-type="text" class="zpelement zpelem-text "><style></style><div class="zptext zptext-align-left zptext-align-mobile-left zptext-align-tablet-left " data-editor="true"><p></p><div><p style="margin-bottom:12pt;"><span>The stakes are rising. With CSRD, SEC climate rules, and building performance standards tightening globally, organizations need auditable connections between operational data and financial reporting. When regulators ask how you calculated your Scope 2 emissions, &quot;we pulled data from the BMS and put it in a spreadsheet&quot; isn't a defensible answer.</span></p><p style="margin-bottom:12pt;"><span>Smart building infrastructure generates the source data for ESG compliance. Financial systems produce reports that satisfy regulators and investors. The integration layer between them creates the documented, traceable data lineage that auditors require. Without it, organizations face either compliance risk or enormous manual effort to bridge the gap.</span></p></div><p></p></div>
</div><div data-element-id="elm_pruiMCPMPpjJFfNncYpL5A" data-element-type="heading" class="zpelement zpelem-heading "><style></style><h2
 class="zpheading zpheading-style-none zpheading-align-left zpheading-align-mobile-left zpheading-align-tablet-left " data-editor="true"><span><span><span><span>Making Smart Buildings Financially Intelligent</span></span></span></span></h2></div>
<div data-element-id="elm_YLbqyQs3CHW2p9BUtOOo6g" data-element-type="text" class="zpelement zpelem-text "><style></style><div class="zptext zptext-align-left zptext-align-mobile-left zptext-align-tablet-left " data-editor="true"><p></p><div><p style="margin-bottom:12pt;"><span>At KriyaGo, we build the integration infrastructure that connects operational technology to financial systems. Our <a href="https://www.kriyago.com/connect-360-1"><span style="text-decoration-line:underline;color:rgb(48, 4, 234);">Connect 360 platform</span></a> bridges building management systems, IoT platforms, and energy monitoring tools to Yardi, MRI, and the broader real estate financial ecosystem. We handle the aggregation, normalization, and attribution that transform sensor data into financial intelligence.</span></p><p style="margin-bottom:12pt;"><span>With over 120 proprietary integration assets purpose-built for real estate, we understand both sides of the conversation, the operational language of smart buildings and the financial language of property management. We automatically translate between them continuously and at scale.</span></p><p style="margin-bottom:18pt;"><strong>Your buildings are getting smarter every day. It's time your financial systems caught up.</strong></p></div><p></p></div>
</div><div data-element-id="elm_w8cc2HeDwlTH9TkXJzfrVA" data-element-type="heading" class="zpelement zpelem-heading "><style></style><h2
 class="zpheading zpheading-style-none zpheading-align-left zpheading-align-mobile-left zpheading-align-tablet-left " data-editor="true"><span style="font-size:20px;"><b>Ready to connect your smart building data to financial outcomes?</b></span><span><span></span></span></h2></div>
<div data-element-id="elm_REtl4lnOOBO5mxZqMwwasg" data-element-type="text" class="zpelement zpelem-text "><style></style><div class="zptext zptext-align-left zptext-align-mobile-left zptext-align-tablet-left " data-editor="true"><p></p><div><p style="margin-bottom:12pt;">See how <strong>KriyaGo </strong>bridges IoT platforms and real estate ERPs. <span style="text-decoration-line:underline;color:rgb(48, 4, 234);"><a href="/contact-us" title="Request a demo" rel="">Request a demo</a></span> to explore our innovative building integration solutions.</p></div><p></p></div>
</div><div data-element-id="elm_vSNSJUmKTA2Jj_SQlh96WQ" data-element-type="button" class="zpelement zpelem-button " data-animation-name="bounceIn" data-animation-repeat="true"><style></style><div class="zpbutton-container zpbutton-align-left zpbutton-align-mobile-center zpbutton-align-tablet-center"><style type="text/css"></style><a class="zpbutton-wrapper zpbutton zpbutton-type-primary zpbutton-size-md zpbutton-style-oval " href="/contact-us" target="_blank"><span class="zpbutton-content">Get Started Now</span></a></div>
</div></div></div></div></div></div> ]]></content:encoded><pubDate>Wed, 24 Dec 2025 07:19:33 -0500</pubDate></item><item><title><![CDATA[Procore to Yardi & MRI: Bridging Construction and Finance | KriyaGo]]></title><link>https://www.kriyago.com/blogs/post/procore-to-yardi-mri-bridging-construction-and-finance-kriyago</link><description><![CDATA[<img align="left" hspace="5" src="https://www.kriyago.com/Procore-to-Yardi-MRI-Why-Construction-and-Finance-Speak-Different-Languages-Squr.jpg"/>Construction and finance systems don’t speak the same language. Learn how Procore integrates with Yardi and MRI through intelligent middleware.]]></description><content:encoded><![CDATA[<div class="zpcontent-container blogpost-container "><div data-element-id="elm_hcbmCK0oSC-hIIJMizG5ZQ" data-element-type="section" class="zpsection "><style type="text/css"></style><div class="zpcontainer-fluid zpcontainer"><div data-element-id="elm_AHv_JaXJTqmYClS9h-7sOA" data-element-type="row" class="zprow zprow-container zpalign-items- zpjustify-content- " data-equal-column=""><style type="text/css"></style><div data-element-id="elm_gVn0341EQl2mScrZU5AuJw" data-element-type="column" class="zpelem-col zpcol-12 zpcol-md-12 zpcol-sm-12 zpalign-self- "><style type="text/css"></style><div data-element-id="elm_zz9QW3_Mi5M9fjoA0ZfZkg" data-element-type="image" class="zpelement zpelem-image "><style> @media (min-width: 992px) { [data-element-id="elm_zz9QW3_Mi5M9fjoA0ZfZkg"] .zpimage-container figure img { width: 1110px ; height: 237.61px ; } } </style><div data-caption-color="" data-size-tablet="" data-size-mobile="" data-align="left" data-tablet-image-separate="false" data-mobile-image-separate="false" class="zpimage-container zpimage-align-left zpimage-tablet-align-center zpimage-mobile-align-center zpimage-size-fit zpimage-tablet-fallback-fit zpimage-mobile-fallback-fit hb-lightbox " data-lightbox-options="
                type:fullscreen,
                theme:dark"><figure role="none" class="zpimage-data-ref"><span class="zpimage-anchor" role="link" tabindex="0" aria-label="Open Lightbox" style="cursor:pointer;"><picture><img class="zpimage zpimage-style-none zpimage-space-none " src="/Procore-to-Yardi-MRI-Why-Construction-and-Finance-Speak-Different-Languages-rect.jpg" size="fit" data-lightbox="true"/></picture></span></figure></div>
</div><div data-element-id="elm_nF0D3nFyQY65y4xt45i8VQ" data-element-type="text" class="zpelement zpelem-text "><style></style><div class="zptext zptext-align-left zptext-align-mobile-center zptext-align-tablet-center " data-editor="true"><p></p><div><p style="margin-bottom:12pt;"><span>On Tuesday morning, your project manager in Procore approves a $47,000 change order. By Thursday, your CFO will ask why the development budget in Yardi or MRI, depending on which ERP your organization runs, displays a different number. By Friday, someone is manually reconciling spreadsheets, and nobody is happy.</span></p><p style="margin-bottom:12pt;"><span>This isn't a failure of people or process. It's a failure of translation. Construction and finance speak fundamentally different languages, and without a fluent interpreter, miscommunication is inevitable.</span></p></div><p></p></div>
</div><div data-element-id="elm_wnXQdJwieP3rdDQkmx86Sg" data-element-type="heading" class="zpelement zpelem-heading "><style></style><h2
 class="zpheading zpheading-style-none zpheading-align-left zpheading-align-mobile-left zpheading-align-tablet-left " data-editor="true"><span><span><span><span>Two Worlds, Two Vocabularies</span></span></span></span></h2></div>
<div data-element-id="elm_ZfQwPdrSD9N2Wz0S624vWw" data-element-type="text" class="zpelement zpelem-text "><style></style><div class="zptext zptext-align-left zptext-align-mobile-left zptext-align-tablet-left " data-editor="true"><p></p><div><p style="margin-bottom:12pt;"><span>Procore is built for project managers. It operates on subcontracts, commitments, potential change orders, and pay applications. Its job cost structure reflects how construction is executed on-site phase by phase, trade by trade, with ongoing adjustments as conditions change.</span></p><p style="margin-bottom:12pt;"><span>Yardi Voyager and MRI Software are built for finance teams. They think in terms of properties, the chart of accounts, journal entries, and accruals. Both platforms have job cost capabilities, but they're designed to interface with accounting workflows, not to mirror the operational reality of a construction site. Whether your organization standardized on Yardi or MRI, the fundamental disconnect with construction systems remains the same.</span></p><p style="margin-bottom:12pt;"><span>These systems weren't designed to communicate. When they try, the conversation gets lost in translation. Cost codes don't align. Commitment structures differ. The same $47,000 change order might be classified, timed, and reported very differently depending on which system you're viewing.</span></p></div><p></p></div>
</div><div data-element-id="elm_5zKMweYEGYA6bSf83C8UDw" data-element-type="heading" class="zpelement zpelem-heading "><style></style><h2
 class="zpheading zpheading-style-none zpheading-align-left zpheading-align-mobile-left zpheading-align-tablet-left " data-editor="true"><span><span><span><span>The Limitations of Native Connectors</span></span></span></span></h2></div>
<div data-element-id="elm_2a4IoxeDMny_we19n8yMEg" data-element-type="text" class="zpelement zpelem-text "><style></style><div class="zptext zptext-align-left zptext-align-mobile-left zptext-align-tablet-left " data-editor="true"><p></p><div><p style="margin-bottom:12pt;"><span>Procore, Yardi, and MRI all recognize this problem. Native connectors exist for various system pairs, and for straightforward scenarios, they work. But as EY noted in their construction technology assessment, and as KPMG has highlighted in advisory work with real estate developers, standard integrations often break down when they encounter the complexity of real-world portfolios.</span></p><p style="margin-bottom:12pt;"><span>The issues are predictable. Native connectors typically support new construction projects initiated after the integration is established, but what about the 15 projects already in progress? They handle standard cost code mappings well, but struggle when your chart of accounts has been customized over two decades of operations. They sync commitments cleanly until someone needs to split a contract across multiple properties or handle retainage in a non-standard way.</span></p><p style="margin-bottom:12pt;"><span>Deloitte's real estate technology practice has documented similar patterns: off-the-shelf integrations cover 80% of use cases, but the remaining 20%, the edge cases, legacy structures, and business-specific requirements, account for 80% of the implementation effort. Whether you're connecting Procore to Yardi or Procore to MRI, those edge cases aren't rare. They're the norm.</span></p></div><p></p></div>
</div><div data-element-id="elm_Pmdo546dxbiTNBONRiY88g" data-element-type="heading" class="zpelement zpelem-heading "><style></style><h2
 class="zpheading zpheading-style-none zpheading-align-left zpheading-align-mobile-left zpheading-align-tablet-left " data-editor="true"><span><span><span><span>What Real Translation Requires</span></span></span></span></h2></div>
<div data-element-id="elm_oCbgFV3GHXuPN8yS4Gehtw" data-element-type="text" class="zpelement zpelem-text "><style></style><div class="zptext zptext-align-left zptext-align-mobile-left zptext-align-tablet-left " data-editor="true"><p></p><div><p style="margin-bottom:12pt;"><span>Effective middleware doesn't just move data between systems; it transforms it intelligently. A purpose-built integration layer ensures that Procore's &quot;potential change order&quot; maps to a specific commitment status in both Yardi and MRI, even though the platforms handle commitments differently. It knows that construction-phase codes require translation into property-level cost categories regardless of the target financial system. It handles the timing difference between when a pay application is approved in the field and when it should be posted to the books.</span></p><p style="margin-bottom:12pt;"><span>More critically, robust middleware handles the exceptions. When a subcontract spans multiple properties, it allocates costs according to configurable rules that work with your ERP's structure. When legacy projects need to be integrated, it provides migration pathways for both Yardi and MRI environments. When your business processes don't align with a standard connector's assumptions, it adapts rather than forcing you to change how you work.</span></p><p style="margin-bottom:12pt;"><span>PwC's construction practice has emphasized that successful technology integration depends on accommodating existing workflows rather than disrupting them. The same principle applies here: the best integration is one your teams barely notice because it simply works whether the data is flowing to Yardi Voyager or MRI Software.</span></p></div><p></p></div>
</div><div data-element-id="elm_s_YNS0IFBAt_MLasQ3V3Mw" data-element-type="heading" class="zpelement zpelem-heading "><style></style><h2
 class="zpheading zpheading-style-none zpheading-align-left zpheading-align-mobile-left zpheading-align-tablet-left " data-editor="true"><span><span><span><span>The Multi-Platform Reality</span></span></span></span></h2></div>
<div data-element-id="elm_GnZMErDdCPq7lugYKCAq5Q" data-element-type="text" class="zpelement zpelem-text "><style></style><div class="zptext zptext-align-left zptext-align-mobile-left zptext-align-tablet-left " data-editor="true"><p></p><div><p style="margin-bottom:12pt;"><span>The construction-to-finance translation challenge isn't limited to one system pair. Some organizations run Yardi for property management but MRI for investment accounting. Others have standardized MRI across their portfolio. Development pipelines might involve Northspyre or Rabbet alongside Procore. Acquisitions bring in properties running on different platforms entirely.</span></p><p style="margin-bottom:12pt;"><span>This is why middleware designed for real estate development needs to be multilingual. It should connect Procore to Yardi <i>and</i> Procore to MRI plus construction data to whatever financial systems your organization relies on today or might adopt tomorrow. The goal isn't just to solve a single integration problem; it's to build a flexible data layer that adapts as your technology stack evolves.</span></p></div><p></p></div>
</div><div data-element-id="elm_HB5rwamzY4_oCtk9dK8WFw" data-element-type="heading" class="zpelement zpelem-heading "><style></style><h2
 class="zpheading zpheading-style-none zpheading-align-left zpheading-align-mobile-left zpheading-align-tablet-left " data-editor="true"><span><span><span><span>Building the Translation Layer</span></span></span></span></h2></div>
<div data-element-id="elm_AA1QmaAasSmU1q07rjjX1Q" data-element-type="text" class="zpelement zpelem-text "><style></style><div class="zptext zptext-align-left zptext-align-mobile-left zptext-align-tablet-left " data-editor="true"><p></p><div><p style="margin-bottom:12pt;"><span>At KriyaGo, we've built our <a href="https://www.kriyago.com/connect-360-1"><span style="text-decoration-line:underline;color:rgb(48, 4, 234);">Connect 360 platform</span></a> specifically to solve the construction-to-finance translation problem across the real estate ERP landscape. We connect Procore to both Yardi and MRI Software handling the standard cases efficiently and the edge cases gracefully. Our <a href="https://marketplace.procore.com/apps/mri-integration-by-kriyasync"><span style="text-decoration-line:underline;color:rgb(48, 4, 234);">MRI Integration is available on the Procore Marketplace</span></a>, and we provide equivalent depth for Yardi Voyager environments. We continue to expand our connector library based on what real estate developers actually need.</span></p><p style="margin-bottom:12pt;"><span>We handle cost code mappings, commitment synchronization, change order workflows, and reconciliation processes that keep construction and finance aligned regardless of which ERP system anchors your financial operations. When your project manager approves the change order on Tuesday, your CFO will see accurate numbers in Yardi, MRI, or both.</span></p><p style="margin-bottom:18pt;"><strong>Construction and finance will always think differently. But with the right translator, they can finally understand each other.</strong></p></div><p></p></div>
</div><div data-element-id="elm_XrjieCSJEYXIGPRDdaHUhA" data-element-type="heading" class="zpelement zpelem-heading "><style></style><h2
 class="zpheading zpheading-style-none zpheading-align-left zpheading-align-mobile-left zpheading-align-tablet-left " data-editor="true"><span style="font-size:20px;"><b>Ready to connect your construction and finance systems?</b></span><span><span></span></span></h2></div>
<div data-element-id="elm_BPCHw8lvLx29lgupQM-u2Q" data-element-type="text" class="zpelement zpelem-text "><style></style><div class="zptext zptext-align-left zptext-align-mobile-left zptext-align-tablet-left " data-editor="true"><p></p><div><p style="margin-bottom:12pt;">See how<strong> KriyaGo </strong>integrates Procore with Yardi, MRI, and more. <span style="text-decoration-line:underline;color:rgb(48, 4, 234);"><a href="/contact-us" title="Request a demo" rel="">Request a demo</a></span> to explore our construction integration solutions.</p></div><p></p></div>
</div><div data-element-id="elm_gKDvTCZ5QHSr4j-qKIRCjw" data-element-type="button" class="zpelement zpelem-button " data-animation-name="bounceIn" data-animation-repeat="true"><style></style><div class="zpbutton-container zpbutton-align-left zpbutton-align-mobile-center zpbutton-align-tablet-center"><style type="text/css"></style><a class="zpbutton-wrapper zpbutton zpbutton-type-primary zpbutton-size-md zpbutton-style-oval " href="/contact-us" target="_blank"><span class="zpbutton-content">Get Started Now</span></a></div>
</div></div></div></div></div></div> ]]></content:encoded><pubDate>Wed, 24 Dec 2025 07:07:01 -0500</pubDate></item><item><title><![CDATA[Killing the Spreadsheet: Automating Yardi-to-Anaplan Data | KriyaGo]]></title><link>https://www.kriyago.com/blogs/post/killing-the-spreadsheet-automating-yardi-to-anaplan-data-kriyago</link><description><![CDATA[<img align="left" hspace="5" src="https://www.kriyago.com/Killing-the-Spreadsheet-Automating-the-Yardi-to-Anaplan-Pipeline-Squr.jpg"/>Manual spreadsheets slow connected planning. Learn how automating the Yardi-to-Anaplan pipeline delivers real-time, accurate financial planning data.]]></description><content:encoded><![CDATA[<div class="zpcontent-container blogpost-container "><div data-element-id="elm_MwAVxAhpRKuO6XtwxnwVUw" data-element-type="section" class="zpsection "><style type="text/css"></style><div class="zpcontainer-fluid zpcontainer"><div data-element-id="elm_8WuwK9KIRVqpvAapWwhKWg" data-element-type="row" class="zprow zprow-container zpalign-items- zpjustify-content- " data-equal-column=""><style type="text/css"></style><div data-element-id="elm_5G5LlDoRSEeLKeYh9SDfBQ" data-element-type="column" class="zpelem-col zpcol-12 zpcol-md-12 zpcol-sm-12 zpalign-self- "><style type="text/css"></style><div data-element-id="elm_MwaIMnoFmeEniOYu4GpNUA" data-element-type="image" class="zpelement zpelem-image "><style> @media (min-width: 992px) { [data-element-id="elm_MwaIMnoFmeEniOYu4GpNUA"] .zpimage-container figure img { width: 1110px ; height: 237.61px ; } } </style><div data-caption-color="" data-size-tablet="" data-size-mobile="" data-align="left" data-tablet-image-separate="false" data-mobile-image-separate="false" class="zpimage-container zpimage-align-left zpimage-tablet-align-center zpimage-mobile-align-center zpimage-size-fit zpimage-tablet-fallback-fit zpimage-mobile-fallback-fit hb-lightbox " data-lightbox-options="
                type:fullscreen,
                theme:dark"><figure role="none" class="zpimage-data-ref"><span class="zpimage-anchor" role="link" tabindex="0" aria-label="Open Lightbox" style="cursor:pointer;"><picture><img class="zpimage zpimage-style-none zpimage-space-none " src="/Killing-the-Spreadsheet-Automating-the-Yardi-to-Anaplan-Pipeline-Rect.jpg" size="fit" data-lightbox="true"/></picture></span></figure></div>
</div><div data-element-id="elm_GquqK-y8SRGYPx8lpKbR4Q" data-element-type="text" class="zpelement zpelem-text "><style></style><div class="zptext zptext-align-left zptext-align-mobile-center zptext-align-tablet-center " data-editor="true"><p></p><div><p style="margin-bottom:12pt;"><span>Somewhere right now, a financial analyst is downloading a CSV from Yardi, reformatting columns in Excel, manually mapping cost codes, and uploading the result to Anaplan. They did the same thing last week. They'll do it again next week. And every time, they hold their breath, hoping nothing breaks.</span></p><p style="margin-bottom:12pt;"><span>This is the hidden tax of connected planning: the manual data pipeline no one wants to talk about.</span></p></div><p></p></div>
</div><div data-element-id="elm_WfU5hs84LNHUplVmcDn3Ag" data-element-type="heading" class="zpelement zpelem-heading "><style></style><h2
 class="zpheading zpheading-style-none zpheading-align-left zpheading-align-mobile-left zpheading-align-tablet-left " data-editor="true"><span><span><span><span>The Promise and Reality of Connected Planning</span></span></span></span></h2></div>
<div data-element-id="elm_FDEjD3y8XVHd6S8XUx8TBw" data-element-type="text" class="zpelement zpelem-text "><style></style><div class="zptext zptext-align-left zptext-align-mobile-left zptext-align-tablet-left " data-editor="true"><p></p><div><p style="margin-bottom:12pt;">Connected planning platforms like Anaplan have revolutionized how real estate organizations approach financial planning and analysis. The ability to model scenarios across entire portfolios, connect operational metrics to economic outcomes, and run real-time forecasts has transformed strategic decision-making. Leading consulting firms, including those recognized as <strong>Anaplan Global Partners of the Year, have built sophisticated practices that help</strong> clients unlock this potential.</p><p style="margin-bottom:12pt;"><span><span>But here's the uncomfortable truth: even the most elegant Anaplan model is only as good as the data feeding it for real estate organizations, and that data resides in property management systems like Yardi Voyager systems, not designed to integrate with financial planning platforms.</span></span><br/></p></div><p></p></div>
</div><div data-element-id="elm_3Jj1-bBDJPOnP6EtzzUTEA" data-element-type="heading" class="zpelement zpelem-heading "><style></style><h2
 class="zpheading zpheading-style-none zpheading-align-left zpheading-align-mobile-left zpheading-align-tablet-left " data-editor="true"><span><span><span><span>The Spreadsheet Tax</span></span></span></span></h2></div>
<div data-element-id="elm_T_RZbDniQfX58XxLZMeJQw" data-element-type="text" class="zpelement zpelem-text "><style></style><div class="zptext zptext-align-left zptext-align-mobile-left zptext-align-tablet-left " data-editor="true"><p></p><div><p style="margin-bottom:12pt;"><span>Spreadsheets typically bridge the gap between Yardi and Anaplan, lots of them. Property managers export rent rolls, operating expenses, capital expenditure data, and occupancy metrics. Finance teams reformat, validate, and transform. Someone maintains a master mapping file that translates Yardi's chart of accounts to Anaplan's data structure. Updates happen monthly, sometimes weekly, and the process consumes hours that should be spent on analysis.</span></p><p style="margin-bottom:12pt;"><span>This spreadsheet tax creates real business risk. Manual processes introduce errors, transposed figures, missed properties, and stale data. Reconciliation becomes a recurring headache. And when leadership needs a quick scenario analysis, the answer is often &quot;we need a few days to refresh the data.&quot;</span></p><p style="margin-bottom:12pt;"><span>For implementation partners, the spreadsheet problem extends project timelines and increases costs. Valuable consulting hours get consumed by data wrangling rather than model design and strategic insights.</span></p></div><p></p></div>
</div><div data-element-id="elm_ArM0jTk3um3haTIsxtvUUA" data-element-type="heading" class="zpelement zpelem-heading "><style></style><h2
 class="zpheading zpheading-style-none zpheading-align-left zpheading-align-mobile-left zpheading-align-tablet-left " data-editor="true"><span><span><span><span>What Automation Actually Looks Like</span></span></span></span></h2></div>
<div data-element-id="elm_SqqEnFXbYhx23FKrSFVKdw" data-element-type="text" class="zpelement zpelem-text "><style></style><div class="zptext zptext-align-left zptext-align-mobile-left zptext-align-tablet-left " data-editor="true"><p></p><div><p style="margin-bottom:12pt;"><span>Purpose-built middleware eliminates the spreadsheet layer. Instead of manual exports and imports, automated pipelines continuously extract data from Yardi, transform it according to predefined business rules, validate it against quality checks, and deliver it to Anaplan in the exact format required.</span></p><p style="margin-bottom:12pt;"><span>The transformation layer handles the complexity typically found in spreadsheets: mapping property hierarchies, converting chart-of-accounts structures, normalizing date formats, and aggregating data at appropriate levels. Once configured, it runs without human intervention daily, hourly, or on demand.</span></p><p style="margin-bottom:12pt;"><span>For financial planning teams, this means Anaplan models always reflect the current operational reality. For implementation partners, it means faster time-to-value and projects that focus on insight delivery rather than data plumbing.</span></p></div><p></p></div>
</div><div data-element-id="elm__tvUJLwgcVyGgA7qkhX9sA" data-element-type="heading" class="zpelement zpelem-heading "><style></style><h2
 class="zpheading zpheading-style-none zpheading-align-left zpheading-align-mobile-left zpheading-align-tablet-left " data-editor="true"><span><span><span><span>Beyond Yardi: The Multi-System Reality</span></span></span></span></h2></div>
<div data-element-id="elm_cgilF59VW2LmQn60NkXy1g" data-element-type="text" class="zpelement zpelem-text "><style></style><div class="zptext zptext-align-left zptext-align-mobile-left zptext-align-tablet-left " data-editor="true"><p></p><div><p style="margin-bottom:12pt;"><span>Most real estate portfolios don't run on a single system. Yardi might handle property management while MRI manages investment accounting. Construction data lives in Procore. Budgets originate in departmental spreadsheets. The connected planning vision requires connecting all of these sources, not just one.</span></p><p style="margin-bottom:12pt;"><span>Middleware designed for real estate understands these ecosystems. It speaks the native language of property management systems and translates fluently to financial planning platforms. The result is a unified data layer that enables accurate connected planning.</span></p></div><p></p></div>
</div><div data-element-id="elm_yADd_e0Y7mZpcAOybrAObw" data-element-type="heading" class="zpelement zpelem-heading "><style></style><h2
 class="zpheading zpheading-style-none zpheading-align-left zpheading-align-mobile-left zpheading-align-tablet-left " data-editor="true"><span><span><span><span>Time to Retire the Spreadsheet</span></span></span></span></h2></div>
<div data-element-id="elm_8OGGjaaPjQyVBDgRZTUz5A" data-element-type="text" class="zpelement zpelem-text "><style></style><div class="zptext zptext-align-left zptext-align-mobile-left zptext-align-tablet-left " data-editor="true"><p></p><div><p style="margin-bottom:12pt;"><span>At KriyaGo, we build data infrastructure that connects property operations to financial planning. Our platform automates the Yardi-to-Anaplan pipeline and connects to MRI, Procore, and the broader real estate technology ecosystem. We handle the extraction, transformation, and delivery so your teams can focus on what matters: driving better decisions with better data.</span></p><p style="margin-bottom:18pt;"><strong>The spreadsheet had its moment. It's time for something better.</strong></p></div><p></p></div>
</div><div data-element-id="elm_1XIoWbdVmn-RBxKRFcF49Q" data-element-type="heading" class="zpelement zpelem-heading "><style></style><h2
 class="zpheading zpheading-style-none zpheading-align-left zpheading-align-mobile-left zpheading-align-tablet-left " data-editor="true"><span style="font-size:20px;"><b>Ready to automate your data pipeline?</b></span><span><span></span></span></h2></div>
<div data-element-id="elm_RIROg0tvTJkG2nTjye6BQg" data-element-type="text" class="zpelement zpelem-text "><style></style><div class="zptext zptext-align-left zptext-align-mobile-left zptext-align-tablet-left " data-editor="true"><p></p><div><p style="margin-bottom:12pt;">See how <strong>KriyaGo</strong> accelerates Anaplan implementations with automated Yardi integration. <span style="text-decoration-line:underline;color:rgb(48, 4, 234);"><a href="/contact-us" title="Request a demo" rel="">Request a demo</a></span> to explore our connected planning solutions.</p></div><p></p></div>
</div><div data-element-id="elm_7HoPtQCiQ6iQh1aHZJZsFg" data-element-type="button" class="zpelement zpelem-button " data-animation-name="bounceIn" data-animation-repeat="true"><style></style><div class="zpbutton-container zpbutton-align-left zpbutton-align-mobile-center zpbutton-align-tablet-center"><style type="text/css"></style><a class="zpbutton-wrapper zpbutton zpbutton-type-primary zpbutton-size-md zpbutton-style-oval " href="/contact-us" target="_blank"><span class="zpbutton-content">Get Started Now</span></a></div>
</div></div></div></div></div></div> ]]></content:encoded><pubDate>Wed, 24 Dec 2025 07:00:05 -0500</pubDate></item><item><title><![CDATA[The Human Touch in Digital Banking: How AI Empowers Financial Excellence]]></title><link>https://www.kriyago.com/blogs/post/the-human-touch-in-digital-banking-how-ai-empowers-financial-excellence</link><description><![CDATA[<img align="left" hspace="5" src="https://www.kriyago.com/The-Human-Touch-in-Digital-Banking_How-AI-Empowers-Financial-Excellence_Squr.jpg"/>In the rapidly evolving landscape of Canadian banking, a profound transformation is underway. Leading financial institutions like TD Bank are redefining what it means to deliver digital banking experiences]]></description><content:encoded><![CDATA[<div class="zpcontent-container blogpost-container "><div data-element-id="elm_pvBD5-LFR2Kw2UbVstlRiA" data-element-type="section" class="zpsection "><style type="text/css"></style><div class="zpcontainer-fluid zpcontainer"><div data-element-id="elm_5Ik8GVsmQXeb0AMivovTwQ" data-element-type="row" class="zprow zprow-container zpalign-items- zpjustify-content- " data-equal-column=""><style type="text/css"></style><div data-element-id="elm_sx0BTC3ARHOd9eO6l7i3RQ" data-element-type="column" class="zpelem-col zpcol-12 zpcol-md-12 zpcol-sm-12 zpalign-self- "><style type="text/css"></style><div data-element-id="elm_ZiRMlzlOuy6ewn7qftk1aw" data-element-type="image" class="zpelement zpelem-image " data-animation-name="fadeInUp"><style> @media (min-width: 992px) { [data-element-id="elm_ZiRMlzlOuy6ewn7qftk1aw"] .zpimage-container figure img { width: 1110px ; height: 237.61px ; } } </style><div data-caption-color="" data-size-tablet="" data-size-mobile="" data-align="center" data-tablet-image-separate="false" data-mobile-image-separate="false" class="zpimage-container zpimage-align-center zpimage-tablet-align-center zpimage-mobile-align-center zpimage-size-fit zpimage-tablet-fallback-fit zpimage-mobile-fallback-fit hb-lightbox " data-lightbox-options="
                type:fullscreen,
                theme:dark"><figure role="none" class="zpimage-data-ref"><span class="zpimage-anchor" role="link" tabindex="0" aria-label="Open Lightbox" style="cursor:pointer;"><picture><img class="zpimage zpimage-style-none zpimage-space-none " src="/The-Human-Touch-in-Digital-Banking_How-AI-Empowers-Financial-Excellence_Rect.jpg" size="fit" data-lightbox="true"/></picture></span></figure></div>
</div><div data-element-id="elm_dmC-rBVDR-yLS07wwZweCA" data-element-type="text" class="zpelement zpelem-text "><style></style><div class="zptext zptext-align-center zptext-align-mobile-center zptext-align-tablet-center " data-editor="true"><p></p><div><p><span>In the rapidly evolving landscape of Canadian banking, a profound transformation is underway. Leading financial institutions like TD Bank are redefining what it means to deliver digital banking experiences—not by replacing human interaction, but by amplifying it through intelligent technology. This philosophy resonates deeply with innovators across the financial technology ecosystem who understand that true digital transformation isn't about automation alone; it's about empowering people to achieve more.</span></p></div><p></p></div>
</div><div data-element-id="elm_0AcuR-k4VsCPZosElSqoMw" data-element-type="heading" class="zpelement zpelem-heading "><style></style><h2
 class="zpheading zpheading-style-none zpheading-align-center zpheading-align-mobile-left zpheading-align-tablet-left " data-editor="true"><span style="font-size:20px;"><b>Beyond Transactions: Building Trust Through Technology</b></span></h2></div>
<div data-element-id="elm_EqbBqba8BxDnzd8fFSwevA" data-element-type="text" class="zpelement zpelem-text "><style></style><div class="zptext zptext-align-center zptext-align-mobile-left zptext-align-tablet-left " data-editor="true"><p></p><div><p><span>Canadian banking has always been built on trust. As TD Bank demonstrates through its approach to serving over 15 million customers, modern banking extends far beyond simple transactions. It's about relationships rooted in understanding customer behaviors and needs. This human-centric approach to digital innovation is reshaping how financial services are delivered across North America.</span></p><p><span><br/></span></p><p><span>Creating Seamless and Personal Experiences: The Guiding Principle of Forward-Thinking Companies</span></p></div><p></p></div>
</div><div data-element-id="elm_EW5SYeU6BKu7o9nU1LmN5A" data-element-type="heading" class="zpelement zpelem-heading "><style></style><h2
 class="zpheading zpheading-style-none zpheading-align-center zpheading-align-mobile-left zpheading-align-tablet-left " data-editor="true"><span style="font-size:20px;"><span style="color:rgb(169, 162, 255);"><strong>Inspiring Financial Teams Through the Empowerment of Intelligent Automation</strong></span></span></h2></div>
<div data-element-id="elm_Hw1S6GSxS3SZnMv56GohNQ" data-element-type="text" class="zpelement zpelem-text "><style></style><div class="zptext zptext-align-center zptext-align-mobile-left zptext-align-tablet-left " data-editor="true"><p></p><div><p><span>Just as TD Bank uses AI to empower colleagues and enable them to focus on high-value strategic work, modern financial platforms are revolutionizing how banking teams operate. Consider the challenge of bank reconciliation—a process that traditionally consumes 40-60 hours monthly for many organizations. Through intelligent automation that connects directly with central Canadian banks, including TD Bank and <a href="https://www.rbc.com/our-impact/technology/artificial-intelligence.html">RBC</a>, these processes can be reduced to minutes while maintaining 99% accuracy.</span></p><p><span>This transformation mirrors TD's philosophy of using AI to simplify, empower, and elevate human experiences. When financial teams are freed from manual reconciliation tasks, they can focus on strategic analysis and relationship building—the uniquely human elements that drive business forward. Companies like Kriyago, with their <a href="https://www.kriyago.com/kriyabalance">KriyaBalance</a> platform, exemplify this approach by providing real-time banking connectivity and AI-powered matching that understands complex transaction patterns specific to industries like real estate.</span></p></div><p></p></div>
</div><div data-element-id="elm_RhCiPOodKn4h854ppt0D3w" data-element-type="heading" class="zpelement zpelem-heading "><style></style><h2
 class="zpheading zpheading-style-none zpheading-align-center zpheading-align-mobile-left zpheading-align-tablet-left " data-editor="true"><span style="font-size:20px;"><span><strong>The Reassuring Power of Integration in Canadian Banking</strong></span></span></h2></div>
<div data-element-id="elm_VQw_-wLbPlAeW2fkrUHwdA" data-element-type="text" class="zpelement zpelem-text "><style></style><div class="zptext zptext-align-center zptext-align-mobile-left zptext-align-tablet-left " data-editor="true"><p></p><div><p><span><a href="https://stories.td.com/ca/en/article/rizwan-khalfan-ai">TD Bank's commitment</a> to innovation extends through partnerships with organizations like Vector Institute and Creative Destruction Lab, demonstrating that transformation thrives in collaborative ecosystems. This cooperative spirit is essential for companies developing cash management solutions that integrate seamlessly with existing banking infrastructure.</span></p><p><span>Modern cash management platforms like KriyaCash showcase this integration philosophy by speaking fluently with banking partners across North America. Through direct API connections with institutions including TD Bank, Wells Fargo, and Signature Bank, these platforms enable real-time transaction feeds with enterprise-grade security—turning weeks of manual financial processes into automated precision.</span></p></div><p></p></div>
</div><div data-element-id="elm_fcd3Y40ovKY2FR5jWVV6dg" data-element-type="heading" class="zpelement zpelem-heading "><style></style><h2
 class="zpheading zpheading-style-none zpheading-align-center zpheading-align-mobile-left zpheading-align-tablet-left " data-editor="true"><span style="font-size:20px;"><span><span style="color:rgb(169, 162, 255);"><strong>Real-Time Intelligence for Better Decision Making</strong></span></span></span></h2></div>
<div data-element-id="elm_5SE5pvrA-IoorAdjD3aSpg" data-element-type="text" class="zpelement zpelem-text "><style></style><div class="zptext zptext-align-left zptext-align-mobile-left zptext-align-tablet-left " data-editor="true"><p></p><div><p><span>The ability to make informed decisions quickly has become crucial in today's fast-paced business environment. TD Bank's use of AI for real-time decision support—from fraud alerts to personalized financial insights—represents a broader shift toward predictive, proactive banking services.</span></p><p><span>This same principle applies to automated bank reconciliation and cash management systems. By providing real-time cash position visibility across entire portfolios and using machine learning to identify patterns and anomalies, these platforms enable financial teams to spot opportunities and risks before they impact the bottom line. The result? Organizations report 60% reductions in payment processing time and millions in annual savings.</span></p></div><p></p></div>
</div><div data-element-id="elm_oiuJdAJBRvKb8numvg-XaA" data-element-type="heading" class="zpelement zpelem-heading "><style></style><h2
 class="zpheading zpheading-style-none zpheading-align-center zpheading-align-mobile-left zpheading-align-tablet-left " data-editor="true"><span style="font-size:20px;"><span><strong>Building Tomorrow's Financial Infrastructure Today</strong></span></span></h2></div>
<div data-element-id="elm_6wOE9cusPNaQyD4Z3s06BA" data-element-type="text" class="zpelement zpelem-text "><style></style><div class="zptext zptext-align-center zptext-align-mobile-left zptext-align-tablet-left " data-editor="true"><p></p><div><p><span>As Canadian banking continues its digital evolution, the focus remains clear: technology should augment human capability, not replace it. TD Bank's vision of creating &quot;uniquely human digital experiences&quot; sets a standard that resonates throughout the financial technology ecosystem.</span></p><p><span>Companies partnering with banks to deliver automated bank reconciliation and intelligent cash management solutions understand this deeply. By eliminating manual processes, ensuring financial accuracy, and providing real-time visibility, they're not just building software—they're creating the infrastructure that enables human excellence in financial operations.</span></p></div><p></p></div>
</div><div data-element-id="elm_73ff5VxVv6JHFh5l174ioA" data-element-type="heading" class="zpelement zpelem-heading "><style></style><h2
 class="zpheading zpheading-style-none zpheading-align-center zpheading-align-mobile-left zpheading-align-tablet-left " data-editor="true"><span style="font-size:20px;"><span style="color:rgb(169, 162, 255);"><strong>The Canadian Advantage</strong></span></span></h2></div>
<div data-element-id="elm_1ajtPJO8vCXXOFYewTsphA" data-element-type="text" class="zpelement zpelem-text "><style></style><div class="zptext zptext-align-center zptext-align-mobile-left zptext-align-tablet-left " data-editor="true"><p></p><div><p><span>Canada's robust innovation ecosystem, combined with its world-class banking sector, creates unique opportunities for financial transformation. As institutions like TD Bank continue to lead in responsible AI development and digital innovation, they're setting standards that benefit the entire financial services industry.</span></p><p><span>For organizations seeking to transform their financial operations, the message is clear: the future of banking isn't about choosing between human expertise and digital efficiency. It's about leveraging intelligent technology—whether for cash management, automated bank reconciliation, or strategic financial planning—to amplify human potential and deliver exceptional experiences that build lasting trust.</span></p></div><p></p></div>
</div><div data-element-id="elm_oE3yYe19TTKDr-AweJeVqQ" data-element-type="button" class="zpelement zpelem-button " data-animation-name="bounceIn" data-animation-repeat="true"><style></style><div class="zpbutton-container zpbutton-align-center zpbutton-align-mobile-center zpbutton-align-tablet-center"><style type="text/css"></style><a class="zpbutton-wrapper zpbutton zpbutton-type-primary zpbutton-size-md zpbutton-style-oval " href="/contact-us" target="_blank"><span class="zpbutton-content">Get Started Now</span></a></div>
</div></div></div></div></div></div> ]]></content:encoded><pubDate>Thu, 14 Aug 2025 12:22:18 -0400</pubDate></item><item><title><![CDATA[Top Reasons to Outsource Your Lease Abstraction  ]]></title><link>https://www.kriyago.com/blogs/post/top-reasons-to-outsource-your-lease-abstraction</link><description><![CDATA[<img align="left" hspace="5" src="https://www.kriyago.com/Top reasons to outsource your lease abstraction_Squr.png"/>A complete lease can be filled with legal word jargon and complex language. It can end up being a nightmare for you if you are not trained to understa ]]></description><content:encoded><![CDATA[<div class="zpcontent-container blogpost-container "><div data-element-id="elm_0ladAqtOQECfAbg0ZS9vVA" data-element-type="section" class="zpsection "><style type="text/css"></style><div class="zpcontainer-fluid zpcontainer"><div data-element-id="elm_IYJvZScoSa6eYYvDsIFI_A" data-element-type="row" class="zprow zprow-container zpalign-items- zpjustify-content- " data-equal-column=""><style type="text/css"></style><div data-element-id="elm_UGJOG0dTQgymmi4hSXGf3g" data-element-type="column" class="zpelem-col zpcol-12 zpcol-md-12 zpcol-sm-12 zpalign-self- "><style type="text/css"></style><div data-element-id="elm_KAiwsJX0J7kQa7yXPCKHgw" data-element-type="image" class="zpelement zpelem-image "><style> @media (min-width: 992px) { [data-element-id="elm_KAiwsJX0J7kQa7yXPCKHgw"] .zpimage-container figure img { width: 800px ; height: 171.50px ; } } @media (max-width: 991px) and (min-width: 768px) { [data-element-id="elm_KAiwsJX0J7kQa7yXPCKHgw"] .zpimage-container figure img { width:500px ; height:107.19px ; } } @media (max-width: 767px) { [data-element-id="elm_KAiwsJX0J7kQa7yXPCKHgw"] .zpimage-container figure img { width:500px ; height:107.19px ; } } [data-element-id="elm_KAiwsJX0J7kQa7yXPCKHgw"].zpelem-image { border-radius:1px; } </style><div data-caption-color="" data-size-tablet="" data-size-mobile="" data-align="center" data-tablet-image-separate="false" data-mobile-image-separate="false" class="zpimage-container zpimage-align-center zpimage-size-large zpimage-tablet-fallback-large zpimage-mobile-fallback-large hb-lightbox " data-lightbox-options="
                type:fullscreen,
                theme:dark"><figure role="none" class="zpimage-data-ref"><span class="zpimage-anchor" role="link" tabindex="0" aria-label="Open Lightbox" style="cursor:pointer;"><picture><img class="zpimage zpimage-style-none zpimage-space-none " src="/Top%20reasons%20to%20outsource%20your%20lease%20abstraction_Rect.png" width="500" height="107.19" loading="lazy" size="large" data-lightbox="true"/></picture></span></figure></div>
</div><div data-element-id="elm_vBgThueUSx6AxgoEPTsGfw" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_vBgThueUSx6AxgoEPTsGfw"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div><div style="font-size:12px;"><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">A complete lease can be filled with legal word jargon and complex language. It can end up being a nightmare for you if you are not trained to understand these. Getting a concise summary of the lease makes life much easier for a property manager. Finding comprehensible information and data from huge volumes of papers can be a huge logistical roadblock.&nbsp;&nbsp;</span></p></div><div style="font-size:12px;"><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">&nbsp;</span></p></div><div style="font-size:12px;"><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">That is exactly why more and more real estate companies are outsourcing their lease abstraction work. This requires highly skilled professionals who know leases inside out. Within this CRE leases are even more intense due to the sheer volume of data work. Abstracting core information from this is a humongous task in itself. Getting a properly skilled lease abstraction partner to do this reduces the chance of gross human errors and benefits your growth.&nbsp;</span></p></div></div></div>
</div><div data-element-id="elm_YKMXn5P1SWaRPnqHyPg3BA" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_YKMXn5P1SWaRPnqHyPg3BA"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><span style="font-weight:700;color:rgb(21, 21, 129);">Reasons to Outsource Your Lease Abstraction</span></h2></div>
<div data-element-id="elm_Y6ACFYNkiNmKVZHYHyLejw" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_Y6ACFYNkiNmKVZHYHyLejw"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div><div style="font-size:12px;"><p><a href="https://www.jll.co.uk/content/dam/jll-com/documents/pdf/other/global/Future-of-Work-Webinar-Presentation-CRE-Mandate-JLL.pdf" target="_blank" rel="noreferrer noopener"><span style="font-size:11pt;color:rgb(72, 118, 232);">JLL’s Future of Work Study (2018)</span></a><span style="color:rgba(0, 0, 0, 0.89);font-size:11pt;"> says that globally more than 42% of commercial real estate firms outsource more than 50% of their lease abstraction work. The participating real estate managers in this study said that this is mostly to get more efficient workers to do the job without employing them full time. They also mentioned that it helped them cut costs quite subsequently.&nbsp;</span><br></p></div></div></div>
</div><div data-element-id="elm_a_N4sbK4ATyjLAF98gkPdQ" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_a_N4sbK4ATyjLAF98gkPdQ"].zpelem-heading { border-radius:1px; } </style><h3
 class="zpheading zpheading-align-left " data-editor="true"><span style="font-weight:700;color:rgb(21, 21, 129);">Maximum Resource Utilization</span></h3></div>
<div data-element-id="elm_YZqxjYFhA_cbvj3hRigI1g" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_YZqxjYFhA_cbvj3hRigI1g"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div><div style="font-size:12px;"><div><div><p><span style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">When you outsource lease abstraction work to outside partners you save a lot of time for your in-house staff. We can use this staff and get them reassigned to important front office work that can help scale your business. This is probably one of the biggest reasons why in the UK </span><span style="color:rgb(72, 118, 232);">more</span></span><a href="https://yougov.co.uk/topics/finance/articles-reports/2019/10/24/seven-ten-british-businesses-outsource-third-parti" target="_blank" rel="noreferrer noopener"><span style="font-size:11pt;color:rgb(72, 118, 232);"> than 48% of companies</span></a><span style="color:rgba(0, 0, 0, 0.89);font-size:11pt;"> have outsourced its work to outside firms.&nbsp;&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Outsourced lease abstraction firms will also customize every document based on client demands and help better your credibility. These custom documents are simplified and easier to comprehend and helps you draw faster data based conclusions.&nbsp;</span></p></div></div></div></div></div>
</div><div data-element-id="elm_QWnVG1TbjmrX3fDUF_J37Q" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_QWnVG1TbjmrX3fDUF_J37Q"].zpelem-heading { border-radius:1px; } </style><h3
 class="zpheading zpheading-align-left " data-editor="true"><span style="font-weight:700;color:rgb(21, 21, 129);">Effective and Authentic Portfolio Management&nbsp;</span></h3></div>
<div data-element-id="elm_NSREwbrgNpWiaXdky3zTLw" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_NSREwbrgNpWiaXdky3zTLw"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div><div style="font-size:12px;"><div><div><div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">All the relevant data and information accumulated from the lease forms the basic structure for an authentic property portfolio. Crisp and consolidated information like termination clause, contractual obligation, maintenance, liabilities etc are put together in simple terms by any lease abstraction partner. This will help better assess risks, expose to liabilities and also help plan further action. Especially when a CRE has to manage multiple clients under their portfolio.&nbsp;</span></p><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);"><br></span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">The KriyaGo team has the right set of experts to help you streamline your lease abstraction work. We are here to better this complex work with the best of software and custom features for your specific business needs.&nbsp;&nbsp;</span></p></div></div></div></div></div></div></div>
</div><div data-element-id="elm_tyVArZn4tPM6yN82LSN2RQ" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_tyVArZn4tPM6yN82LSN2RQ"].zpelem-heading { border-radius:1px; } </style><h3
 class="zpheading zpheading-align-left " data-editor="true"><span style="color:rgb(21, 21, 129);font-weight:700;">Extremely Cost-Effective</span></h3></div>
<div data-element-id="elm_YFNBa3I34LF73HyxabNCOg" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_YFNBa3I34LF73HyxabNCOg"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div><div style="font-size:12px;"><div><div><div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">If you get an internal team to do the lease abstraction work, especially when the volume of work is high in a CRE, the overhead cost is high. You must hire a team of experts, and pay them huge salaries, train them and constantly keep at it to get the work done. When you get back office outsourcing services for your lease abstraction you only pay for the services you take. You do not need to keep paying a team of experts as full-time employees even when there is no work. Outsourcing also becomes highly time effective when you skip out on the basics like hiring and training new staff.&nbsp;</span><br></p></div></div></div></div></div></div></div>
</div><div data-element-id="elm_PAM1FSDQVuUS9gkU6PwwhA" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_PAM1FSDQVuUS9gkU6PwwhA"].zpelem-heading { border-radius:1px; } </style><h3
 class="zpheading zpheading-align-left " data-editor="true"><span style="color:rgb(21, 21, 129);font-weight:700;">Keeping Up With All Compliances</span></h3></div>
<div data-element-id="elm_18gvEZ2YQpLsy27BE1Mq0A" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_18gvEZ2YQpLsy27BE1Mq0A"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div><div style="font-size:12px;"><div><div><div><div><p><span style="color:rgba(0, 0, 0, 0.89);font-size:11pt;">An outsourced lease abstraction service has to provide you with all monthly reports and disclosures that you need for the </span><a href="https://www.fasb.org/home" target="_blank" rel="noreferrer noopener"><span style="font-size:11pt;color:rgb(72, 118, 232);">Financial Accounting Standards Board (FASB)</span></a><span style="color:rgba(0, 0, 0, 0.89);font-size:11pt;">. They will also help you dive deep into the fine prints of these reports and analyse the data to get better results. This helps you mitigate all risks of non-compliance and penalties and fines. Having access to such expert lease accountants will also help you better the other financial services based on the data findings.&nbsp;&nbsp;</span><br></p></div></div></div></div></div></div></div>
</div><div data-element-id="elm_AsgBXaTHgwQrI4nEMSrlcQ" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_AsgBXaTHgwQrI4nEMSrlcQ"].zpelem-heading { border-radius:1px; } </style><h3
 class="zpheading zpheading-align-left " data-editor="true"><span style="color:rgb(21, 21, 129);font-weight:700;">Quicker Work Turnaround</span></h3></div>
<div data-element-id="elm_AW-l8DZx061xHZDCQCk1dw" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_AW-l8DZx061xHZDCQCk1dw"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div><div style="font-size:12px;"><div><div><div><div><div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">When you partner up with a firm who provides such super speciality services, their work turnaround time is bound to be much faster. Much more accurate data is extracted by outsourced audit accountants because they are solely dedicated to your project. An in-house in-experienced team will not have the right experience to provide you with the right results at the correct time.&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">This will also set your work tone right with all your tenants increasing your credibility and that will eventually reflect in business growth.&nbsp;</span></p></div></div></div></div></div></div></div></div></div>
</div><div data-element-id="elm_xqgtCjiYMZrUtSYah1qGwQ" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_xqgtCjiYMZrUtSYah1qGwQ"].zpelem-heading { border-radius:1px; } </style><h3
 class="zpheading zpheading-align-left " data-editor="true"><span style="color:rgb(21, 21, 129);font-weight:700;">High Level of Data Privacy</span></h3></div>
<div data-element-id="elm_siwn4JeadebZz3ns3WJ8kg" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_siwn4JeadebZz3ns3WJ8kg"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div><div style="font-size:12px;"><div><div><div><div><div><div><div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">A CRE has huge amounts of bulky data, hundreds of pages filled with complex legal terms. But that does not mean the content is not important or does not have usable data in it. Data accuracy is even more important because human errors skyrocket when working with complicated documents. This is exactly why an expert team can help you extract error-free data from these huge piles of complicated paperwork. All CRE are required to get accurate lease abstracts to fulfill their other financial obligations on time and avoid penalties.&nbsp;&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">&nbsp;</span></p></div><div><p><span style="color:rgba(0, 0, 0, 0.89);font-size:11pt;">Market research says that on an average businesses </span><a href="https://www.ringlead.com/blog/10-stats-about-data-quality-i-bet-you-didnt-know/" target="_blank" rel="noreferrer noopener"><span style="font-size:11pt;"><span style="color:rgb(72, 118, 232);">lose more than 20%</span></span></a><span style="color:rgba(0, 0, 0, 0.89);font-size:11pt;">of their yearly revenue due to wrong data work. Do you still think you can afford to get the lease abstraction with an experienced staff? You might want to rethink that decision a little.&nbsp;&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">As an additional benefit all your data will be confidential with a lease abstraction partner and under constant security checks. They will also back-up your essential data and you can easily do away with the fear of data loss from there on.&nbsp;</span></p></div></div></div></div></div></div></div></div></div></div></div>
</div><div data-element-id="elm_XVSVVB5lxQBh_JjnwvUeiA" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_XVSVVB5lxQBh_JjnwvUeiA"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><span style="font-weight:700;color:rgb(21, 21, 129);">Summing Up</span></h2></div>
<div data-element-id="elm_GZbqbV7os0w6eq_8U1l-ew" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_GZbqbV7os0w6eq_8U1l-ew"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div><div style="font-size:12px;"><div><div><div><div><div><div><div><div><div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Is all the heavy paper getting the better of you? Struggling to keep up with the complications of lease abstractions and audits? Let the KriyaGo team take care of that. Our team of lease abstraction experts have just the right expertise to get the work done. No more breaking sweat over pilling up complex lease documents.&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Be it commercial real estate leases or residential real estate leases, our team can customize strategy and leadership based on your specific needs. Not only this, we take care of all tedious back office work with our team of experienced staff. Get in touch with us to understand more about our back office outsourcing services. We are here to guide you on your path to simply all lease-related problems your real estate business might come across.&nbsp;</span></p></div></div></div></div></div></div></div></div></div></div></div></div></div>
</div></div></div></div></div></div> ]]></content:encoded><pubDate>Fri, 12 Aug 2022 16:07:23 -0400</pubDate></item><item><title><![CDATA[7 Common Cyber Security Threats to Small Businesses and Accounting Firms]]></title><link>https://www.kriyago.com/blogs/post/7-common-cyber-security-threats-to-small-businesses-and-accounting-firms</link><description><![CDATA[<img align="left" hspace="5" src="https://www.kriyago.com/7 common cyber security threats to small businesses and accounting firms_Squr.png"/>Security threats are not new in businesses across industries, and these breaches take a major hit on a company's financials. A T ripwire news report on ]]></description><content:encoded><![CDATA[<div class="zpcontent-container blogpost-container "><div data-element-id="elm_iQg6L1QHSD2HtOMO3lZhJw" data-element-type="section" class="zpsection "><style type="text/css"></style><div class="zpcontainer-fluid zpcontainer"><div data-element-id="elm_9oPCEdLTQ12YQOkcDc1z7A" data-element-type="row" class="zprow zprow-container zpalign-items- zpjustify-content- " data-equal-column=""><style type="text/css"></style><div data-element-id="elm_ZC8WehPPRr6eLIV-ciYHog" data-element-type="column" class="zpelem-col zpcol-12 zpcol-md-12 zpcol-sm-12 zpalign-self- "><style type="text/css"></style><div data-element-id="elm_Hzf3jmXKrmM33Ra7AxzlRg" data-element-type="image" class="zpelement zpelem-image "><style> @media (min-width: 992px) { [data-element-id="elm_Hzf3jmXKrmM33Ra7AxzlRg"] .zpimage-container figure img { width: 800px ; height: 171.50px ; } } @media (max-width: 991px) and (min-width: 768px) { [data-element-id="elm_Hzf3jmXKrmM33Ra7AxzlRg"] .zpimage-container figure img { width:500px ; height:107.19px ; } } @media (max-width: 767px) { [data-element-id="elm_Hzf3jmXKrmM33Ra7AxzlRg"] .zpimage-container figure img { width:500px ; height:107.19px ; } } [data-element-id="elm_Hzf3jmXKrmM33Ra7AxzlRg"].zpelem-image { border-radius:1px; } </style><div data-caption-color="" data-size-tablet="" data-size-mobile="" data-align="center" data-tablet-image-separate="false" data-mobile-image-separate="false" class="zpimage-container zpimage-align-center zpimage-size-large zpimage-tablet-fallback-large zpimage-mobile-fallback-large hb-lightbox " data-lightbox-options="
                type:fullscreen,
                theme:dark"><figure role="none" class="zpimage-data-ref"><span class="zpimage-anchor" role="link" tabindex="0" aria-label="Open Lightbox" style="cursor:pointer;"><picture><img class="zpimage zpimage-style-none zpimage-space-none " src="/7%20common%20cyber%20security%20threats%20to%20small%20businesses%20and%20accounting%20firms_Rect.png" width="500" height="107.19" loading="lazy" size="large" alt=" 7 Common Cyber Security Threats to Small Businesses and Accounting Firms" data-lightbox="true"/></picture></span></figure></div>
</div><div data-element-id="elm_ovaQllanR2eguAidAe_IpQ" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_ovaQllanR2eguAidAe_IpQ"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div style="font-size:12px;"><div><div><p><span style="color:rgba(0, 0, 0, 0.89);font-size:11pt;">Security threats are not new in businesses across industries, and these breaches take a major hit on a company's financials. A </span><span style="font-size:11pt;"><a href="https://www.tripwire.com/state-of-security/security-data-protection/data-breach-costs-rise/" target="_blank" rel="noreferrer noopener" style="color:rgba(0, 0, 0, 0.89);">T</a><a href="https://www.tripwire.com/state-of-security/security-data-protection/data-breach-costs-rise/" title="Tripwire news report on an IBM security study" rel="" style="color:rgb(72, 118, 232);">ripwire news report on an IBM security study</a></span><span style="color:rgba(0, 0, 0, 0.89);font-size:11pt;"> points out that each incident of security breach costs companies about $3.92 million per incident. These cost a lot of money, and it grows a good 15% every year. IT experts believe that it will </span><a href="https://cybersecurityventures.com/hackerpocalypse-cybercrime-report-2016/" target="_blank" rel="noreferrer noopener"><span style="font-size:11pt;color:rgb(72, 118, 232);">cost the world $10.5 Trillion</span></a><span style="color:rgba(0, 0, 0, 0.89);font-size:11pt;"> annually at this rate.&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Any security threat can be catastrophic and even harder for a small or medium business to recover from. So, no matter who your outsourced accounting service provider is, you need to be aware of these cyber security threats to identify them before they wreak havoc on your business. Read on to know more.&nbsp;&nbsp;</span></p></div></div></div></div>
</div><div data-element-id="elm_UygF7HN7Sz23Ch178o6gFg" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_UygF7HN7Sz23Ch178o6gFg"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><span style="font-size:27px;font-weight:700;color:rgb(21, 21, 129);">Why is security threat a concern in accounting?</span><br></h2></div>
<div data-element-id="elm_S3nMhV_LB7XmTjDhkA5v1A" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_S3nMhV_LB7XmTjDhkA5v1A"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div style="font-size:12px;"><div><div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">The side effects of a security threat are endless. They have a significant effect on accounting because your financials are involved.&nbsp;</span></p></div><div><ul><li style="margin-left:24px;font-size:14pt;"><p><span style="font-size:14pt;color:rgba(0, 0, 0, 0.89);">Losing your financial information&nbsp;</span></p></li></ul></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">The most obvious target of any hacker is to get your financial records, tamper with them and drain out your money or conduct unauthorized payments. In such cases, they also get full access to your financial statements and can gain complete control over your business process overview.&nbsp;&nbsp;</span></p><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);"><br></span></p></div></div><div><div><ul><li style="margin-left:24px;font-size:14pt;"><p><span style="font-size:14pt;color:rgba(0, 0, 0, 0.89);">Tampering business strategies and trade secrets&nbsp;&nbsp;</span></p></li></ul></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Once the hackers have the details of your accounts, they can quickly figure out your transaction history and related customer history, trade secrets and your company’s budgeting and forecasting can go haywire. Your spending becoming public can come in handy to your competitors in figuring out your business strategies and best you in further growth.&nbsp;&nbsp;</span></p></div></div></div></div></div>
</div><div data-element-id="elm_WNS-F0m6ErVwGdnS4l3jPA" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_WNS-F0m6ErVwGdnS4l3jPA"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><span style="font-size:27px;font-weight:700;color:rgb(21, 21, 129);">Look for for these 7 security threats</span><br></h2></div>
<div data-element-id="elm_epZFSfLNxPcWNjFZ521SyA" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_epZFSfLNxPcWNjFZ521SyA"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div style="font-size:12px;"><div><div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">With a great selection of technology in project management and business process, all workings now happen on the cloud. They come with their own set of threats. Check them out.&nbsp;&nbsp;</span><br></p></div></div></div></div></div>
</div><div data-element-id="elm_oOmIczBMaodXRrD3889vkA" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_oOmIczBMaodXRrD3889vkA"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><span style="font-size:27px;font-weight:700;color:rgb(21, 21, 129);">1. Outdated software usage</span><br></h2></div>
<div data-element-id="elm_Er6Mny9E-mBbOVDVSRdGtw" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_Er6Mny9E-mBbOVDVSRdGtw"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div style="font-size:12px;"><div><div><div><p><span style="color:rgba(0, 0, 0, 0.89);font-size:11pt;">No matter how much money you put into planning your business process overview, it is redundant without the latest selection of technology. Outdated software used to manage your business can lead to a lot of data threats and cyber security problems. If the software is not timely updated and does not have security layers to fight the latest bugs and viruses, then all of your systems are at risk. That is why you need a software integration partner who ensures periodic software updates take place for top-notch security. According to the </span><a href="https://docs.broadcom.com/doc/istr-24-2019-en" target="_blank" rel="noreferrer noopener"><span style="font-size:11pt;color:rgb(72, 118, 232);">Symantec Internet Security Threat Report</span></a><span style="color:rgba(0, 0, 0, 0.89);font-size:11pt;">, in a month, more than 4818 websites are attacked by cyber threats, and your software partner needs to take that seriously.&nbsp;&nbsp;</span><br></p></div></div></div></div></div>
</div><div data-element-id="elm_CBjUGUVyi2aE9TbN8XEPNQ" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_CBjUGUVyi2aE9TbN8XEPNQ"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><span style="font-size:27px;font-weight:700;color:rgb(21, 21, 129);">2. Spyware and ransomware attacks</span><br></h2></div>
<div data-element-id="elm_tVoOiF2UsQz3fY5pUa6ZyA" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_tVoOiF2UsQz3fY5pUa6ZyA"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div style="font-size:12px;"><div><div><div><div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Spyware is a type of malicious software that is camouflaged in the system and becomes a threat when you try to extra sensitive information from your system. It always works in the background without your knowledge and can collect all information about your credentials and financial details.&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">&nbsp;</span></p></div><div><p><span style="color:rgba(0, 0, 0, 0.89);font-size:11pt;">It is a very threatening virus which blocks your access to your data in no time, and it also stays hidden in the background like Spyware. </span><a href="https://healthitsecurity.com/news/71-of-ransomware-attacks-targeted-small-businesses-in-2018" target="_blank" rel="noreferrer noopener"><span style="font-size:11pt;color:rgb(72, 118, 232);">Health IT Security reports</span></a><span style="font-size:11pt;"><span style="color:rgb(72, 118, 232);"> sa</span><span style="color:rgba(0, 0, 0, 0.89);">y that 71% of Ransomware attacks primarily target small businesses, and you need to take that into account while setting up your cyber security system. This mostly happens because small businesses hardly spend any money to back up their information on cloud storage, and this ransomware attack can lead to permanent data loss.&nbsp;&nbsp;</span></span></p></div></div></div></div></div></div></div>
</div><div data-element-id="elm_Y-mCvnN6WjwU6u-gHRvGWw" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_Y-mCvnN6WjwU6u-gHRvGWw"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><span style="font-size:27px;font-weight:700;color:rgb(21, 21, 129);">3. Phishing attacks</span><br></h2></div>
<div data-element-id="elm_CA6p1mUcOwVXJlsGCPlVjA" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_CA6p1mUcOwVXJlsGCPlVjA"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div style="font-size:12px;"><div><div><div><div><div><p><span style="color:rgba(0, 0, 0, 0.89);font-size:11pt;">This is one of the most common yet most dangerous security threats. </span><a href="https://www.proofpoint.com/sites/default/files/gtd-pfpt-uk-tr-state-of-the-phish-2020-a4_final.pdf" target="_blank" rel="noreferrer noopener"><span style="font-size:11pt;color:rgb(72, 118, 232);">Proof Point market survey</span></a><span style="color:rgba(0, 0, 0, 0.89);font-size:11pt;"> reports said that in 2019 more than 88% of all companies across the world faced phishing attacks. These primarily work with fake emails or messages to which fraudulent links and information are attached. Once any of your employees click on these links, they can lead to monetary loss, data loss, financial history tampering, etc.&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">It is sometimes tough to catch these phishing attacks because these emails and messages are very close copies of the originals, and it takes a very detailed eye to catch them. Phishing scammers can also easily duplicate your financial documents and use them for later purchases and transactions in your names, becoming a long-term threat.&nbsp;&nbsp;</span></p></div></div></div></div></div></div></div>
</div><div data-element-id="elm_g1_9jqYgFn97uWtU-8iKHw" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_g1_9jqYgFn97uWtU-8iKHw"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><span style="font-size:27px;font-weight:700;color:rgb(21, 21, 129);">4. Weak passwords and human errors</span><br></h2></div>
<div data-element-id="elm_Hes_2DKJHpa0P8EESluk7g" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_Hes_2DKJHpa0P8EESluk7g"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div style="font-size:12px;"><div><div><div><p><a href="https://www.tracesecurity.com/blog/articles/81-of-company-data-breaches-due-to-poor-passwords" target="_blank" rel="noreferrer noopener"><span style="font-size:11pt;color:rgb(72, 118, 232);">Trace Security reports</span></a><span style="font-size:11pt;"><span style="color:rgb(72, 118, 232);"></span><span style="color:rgba(0, 0, 0, 0.89);">have pointed out that more than 81% of data breaches in companies happen due to weak passwords. This is a matter of concern because companies keep a simple password for it to be easily accessible for all stakeholders, but in the end, it can lead to some real damage to your accounting and business information. Human errors can play a substantial part in generating these weak passwords. So, you can consider using a random password generator to constantly keep changing and updating your password to avoid such incidents.</span></span><br></p></div></div></div></div></div>
</div><div data-element-id="elm_4Aj7sgqrB9zQ4sY_a_fSmg" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_4Aj7sgqrB9zQ4sY_a_fSmg"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><span style="font-size:27px;font-weight:700;color:rgb(21, 21, 129);">5. Denial of service (DoS) attacks</span><br></h2></div>
<div data-element-id="elm_qJItJre3vNSG1s0WJDhTJQ" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_qJItJre3vNSG1s0WJDhTJQ"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div style="font-size:12px;"><div><div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Denial of Service (DoS) attacks are ones where cybercriminals gain access to your office system and deny the present users access to their own information. It floods the whole server with endless emails requesting access till the time the website denies access to all stakeholders involved, denying you access to your own financial information. These websites are then taken over by cybercriminals and used for other phishing activities and financial scams.&nbsp;&nbsp;</span><br></p></div></div></div></div></div>
</div><div data-element-id="elm_0KNj-qKbQwTzt2uq4wbWgQ" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_0KNj-qKbQwTzt2uq4wbWgQ"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><span style="font-size:27px;font-weight:700;color:rgb(21, 21, 129);">6. Insider threats from employees</span><br></h2></div>
<div data-element-id="elm_gghyAo0LAOsrfLAh4PnXZw" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_gghyAo0LAOsrfLAh4PnXZw"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div style="font-size:12px;"><div><div><div><p><span style="color:rgba(0, 0, 0, 0.89);font-size:11pt;">If you have a bring your own device policy at the office, it can be a major threat to your cyber security. They have first-hand access to all your sensitive data and can choose to use them to manipulate your finances at any time. </span><a href="https://www.ibm.com/downloads/cas/LQZ4RONE" target="_blank" rel="noreferrer noopener"><span style="font-size:11pt;color:rgb(72, 118, 232);">IBM Research</span></a><span style="color:rgba(0, 0, 0, 0.89);font-size:11pt;"> also found out that more than 60% of companies suffered at least 20 cyber attacks in a year due to insider threats.&nbsp;&nbsp;</span><br></p></div></div></div></div></div>
</div><div data-element-id="elm_fQGIqBFAAuyjKoBOqnTGkg" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_fQGIqBFAAuyjKoBOqnTGkg"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><span style="font-size:27px;font-weight:700;color:rgb(21, 21, 129);">7. Halt and catch fire</span><br></h2></div>
<div data-element-id="elm_EeuTZ_K__TZWVDckII56Hg" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_EeuTZ_K__TZWVDckII56Hg"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div style="font-size:12px;"><div><div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">There are methods in which sometimes cybercriminals use advanced technology to self destruct your files or information on your system. These are threats that do not lead to any information being leaked, but they are instead destroyed. These threats are not that common, but they still happen nonetheless.&nbsp;&nbsp;</span><br></p></div></div></div></div></div>
</div><div data-element-id="elm_WRrxI9SYlEoQ7M2GZdCQDQ" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_WRrxI9SYlEoQ7M2GZdCQDQ"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><span style="font-size:27px;font-weight:700;color:rgb(21, 21, 129);">Consult with IT outsourcing service partners</span><br></h2></div>
<div data-element-id="elm_ApYvpfPiAbaqZw5sBA8rMg" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_ApYvpfPiAbaqZw5sBA8rMg"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div style="font-size:12px;"><div><div><div><div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">There is a constant increase in the number of cyber security breach issues due to the advancement of technology; these can gravely affect your finances and accounting work. That is why you need to team up with the right IT outsourcing partner who provides the best cyber security and keeps all your data safe.&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">&nbsp;</span></p></div><div><p><span style="color:rgba(0, 0, 0, 0.89);font-size:11pt;">At KriyaGo, we train our staff with the best security protocols and update our systems with the latest software to ensure the best cyber security in handling your </span><a href="https://www.kriyago.com/back-office-accounting" target="_blank" rel="noreferrer noopener"><span style="font-size:11pt;color:rgb(72, 118, 232);">back office accounting</span></a><span style="color:rgba(0, 0, 0, 0.89);font-size:11pt;"> work.&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Want to find out more about our work? Call us soon!&nbsp;</span></p></div></div></div></div></div></div></div>
</div></div></div></div></div></div> ]]></content:encoded><pubDate>Tue, 12 Jul 2022 11:07:00 -0400</pubDate></item><item><title><![CDATA[Top Benefits of Expense Management Software]]></title><link>https://www.kriyago.com/blogs/post/top-benefits-of-expense-management-software</link><description><![CDATA[<img align="left" hspace="5" src="https://www.kriyago.com/Top Benefits of Expense Management Software - squr.png"/>Gone are the days when real estate agencies relied on paper processes and spreadsheets to manage expenses. Today, most of them have switched to expens ]]></description><content:encoded><![CDATA[<div class="zpcontent-container blogpost-container "><div data-element-id="elm_0eOvDgkkTgKNwlw_CPFsZA" data-element-type="section" class="zpsection "><style type="text/css"></style><div class="zpcontainer-fluid zpcontainer"><div data-element-id="elm_gEt5qTDVQYa5tjTTEopRBw" data-element-type="row" class="zprow zprow-container zpalign-items- zpjustify-content- " data-equal-column=""><style type="text/css"></style><div data-element-id="elm_4ALY9vVvTka4iBhv7g4kYg" data-element-type="column" class="zpelem-col zpcol-12 zpcol-md-12 zpcol-sm-12 zpalign-self- "><style type="text/css"></style><div data-element-id="elm_QDU-oE6f_fldvGWQ8cthAA" data-element-type="image" class="zpelement zpelem-image "><style> [data-element-id="elm_QDU-oE6f_fldvGWQ8cthAA"].zpelem-image { border-radius:1px; } </style><div data-caption-color="" data-size-tablet="size-original" data-size-mobile="size-original" data-align="center" data-tablet-image-separate="" data-mobile-image-separate="" class="zpimage-container zpimage-align-center zpimage-size-large zpimage-tablet-fallback-large zpimage-mobile-fallback-large hb-lightbox " data-lightbox-options="
                type:fullscreen,
                theme:dark"><figure role="none" class="zpimage-data-ref"><span class="zpimage-anchor" role="link" tabindex="0" aria-label="Open Lightbox" style="cursor:pointer;"><picture><img class="zpimage zpimage-style-none zpimage-space-none " src="/Top%20Benefits%20of%20Expense%20Management%20Software%20-%20rect.png" size="large" alt="Top benefits of expense management software" data-lightbox="true" style="width:1280px;padding:0px;margin:0px;"/></picture></span></figure></div>
</div><div data-element-id="elm_OrXxvPs8TPqjsDxH725mBg" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_OrXxvPs8TPqjsDxH725mBg"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div><div style="font-size:12px;"><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Gone are the days when real estate agencies relied on paper processes and spreadsheets to manage expenses. Today, most of them have switched to expense management software to streamline workflow and improve productivity.&nbsp;</span></p><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);"><br></span></p></div><div style="font-size:12px;"><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Are you wondering if you should make a move too? Do you need more information to make your decision?&nbsp;</span></p><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);"><br></span></p></div><div style="font-size:12px;"><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">In this blog, we will explore the top benefits of expense management software. We will provide you with accurate data so that you can make an informed decision for your business.&nbsp;</span></p><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);"><br></span></p></div><div style="font-size:12px;"><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">So, let’s start with the most important advantage of using a digital solution to manage your expenses.&nbsp;</span></p></div></div></div>
</div><div data-element-id="elm_dQ2-0xu7QL-V5k6TfBb_7g" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_dQ2-0xu7QL-V5k6TfBb_7g"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><span style="font-weight:700;color:rgb(22, 22, 90);">Real-time visibility into financial position</span></h2></div>
<div data-element-id="elm_Mv6CT8M7KDQrVA93z7FzLg" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_Mv6CT8M7KDQrVA93z7FzLg"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div><div style="font-size:12px;"><div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">You are bound to meet difficulties if you track all your expenses manually. The challenges grow as you manage more properties, tenants, and employees.&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">The situation comes to a point where you lose visibility&nbsp;into&nbsp;your company spending. As a result, you also lose control over your budget and end up making inaccurate forecasts.&nbsp;</span></p><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);"><br></span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Expense management software can provide real-time visibility into your real estate expenses. You will be able to track expenses as they happen, complete with all information like payer name, amount, time, and more.&nbsp;</span></p><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);"><br></span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Therefore, you can stay updated on every cent that leaves your business.&nbsp;</span></p><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);"><br></span></p></div><div><p><span style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">According to Gartner,</span> </span><a href="https://www.gartner.com/en/documents/3964470/smart-insights-for-the-real-time-transportation-visibili" target="_blank" rel="noreferrer noopener"><span style="font-size:11pt;color:rgb(72, 118, 232);">real-time visibility enables entrepreneurs to manage risks better</span></a><span style="font-size:11pt;"><span style="color:rgb(72, 118, 232);">.&nbsp;</span><span style="color:rgba(0, 0, 0, 0.89);">They can also predict disruptions and save up to 20% of costs.&nbsp;</span></span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Best of all, you can gain complete control over your spending.&nbsp;</span></p></div></div></div></div></div>
</div><div data-element-id="elm_5EkjUHQi1mRqfgqjXwUkuA" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_5EkjUHQi1mRqfgqjXwUkuA"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><font color="#16165a"><b>High-quality financial data for accurate predictions</b></font></h2></div>
<div data-element-id="elm_ye9Un9qA2dCOKW1f_iHcPQ" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_ye9Un9qA2dCOKW1f_iHcPQ"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div style="font-size:12px;"><div><div><p><span style="color:rgba(0, 0, 0, 0.89);font-size:11pt;">Inaccurate financial data can take a toll on your bottom line. Additionally, they can end up in your reporting and &nbsp;</span><a href="https://smallbusiness.chron.com/dangers-inaccurate-financial-reporting-79357.html" target="_blank" rel="noreferrer noopener"><span style="font-size:11pt;color:rgb(72, 118, 232);">create a false picture of your financial position</span></a><span style="color:rgba(0, 0, 0, 0.89);font-size:11pt;">.&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">For example, you can report more profit than actual if your employees miss out on entering some expenses. As a result, you will now have to pay more taxes while filing your returns.&nbsp;</span></p><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);"><br></span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">On the other hand, your business will look less valuable if you underestimate your profit.&nbsp;</span></p><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);"><br></span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">An expense management tool can come to the rescue and improve data accuracy. It can help real estate agencies eliminate human errors and duplicate entries.&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">In addition, you can verify and cross-check data seamlessly. Therefore, your organization can aim for transparency and establish accountability for each expense.&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Ultimately, you will be able to make accurate forecasts for more success.&nbsp;</span></p></div></div></div></div>
</div><div data-element-id="elm_Sral8CCnVanPhPdOERIFFw" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_Sral8CCnVanPhPdOERIFFw"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><font color="#16165a"><b>Improved operational efficiency</b></font></h2></div>
<div data-element-id="elm_mN5XJ3tWpTYwUbgQvTaksg" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_mN5XJ3tWpTYwUbgQvTaksg"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div style="font-size:12px;"><div><div><div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">COVID-19 had a detrimental effect on most industries, including real estate. The world around, commercial spaces&nbsp;close down&nbsp;as governments announced months of lockdown. Returns from properties also began to decline, putting entrepreneurs under stress.&nbsp;</span></p><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);"><br></span></p></div><div><p><span style="color:rgba(0, 0, 0, 0.89);font-size:11pt;">According to McKinsey, the </span><a href="https://www.mckinsey.com/industries/private-equity-and-principal-investors/our-insights/commercial-real-estate-must-do-more-than-merely-adapt-to-coronavirus" target="_blank" rel="noreferrer noopener"><span style="font-size:11pt;color:rgb(72, 118, 232);">unutilized enterprise value of real estate dipped by 25%</span></a><span style="color:rgba(0, 0, 0, 0.89);font-size:11pt;"> in most sectors. In the case of lodging, it went down by 37%.&nbsp;</span></p><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);"><br></span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">As a result, real estate businesses are searching for ways to boost operational efficiency. They are looking to cut costs and optimize expenses to derive the most value.&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Expense management software can go a long way to improve your operational efficiency and reduce costs. You can track every expense and find out whether it’s justified or brings returns.&nbsp;</span></p><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);"><br></span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Additionally, you can automate processes and improve efficiency. You can also reduce your payment cycles and avoid paying late fees.&nbsp;</span></p></div><div><p><span style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">In the process, you may even</span><span style="color:rgb(72, 118, 232);"> &nbsp;</span></span><span style="color:rgb(72, 118, 232);"><a href="https://www.entrepreneur.com/article/286084" target="_blank" rel="noreferrer noopener"><span style="font-size:11pt;">improve your revenues by 20% to 30%</span></a><span style="font-size:11pt;">.&nbsp;</span></span></p></div></div></div></div></div></div>
</div><div data-element-id="elm_A_MfSxDskq5p41NuSGHEHw" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_A_MfSxDskq5p41NuSGHEHw"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><font color="#16165a"><b>Conserve resources, money and time</b></font></h2></div>
<div data-element-id="elm_7Ul-fS8Ytfbx8rsmpwXhPw" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_7Ul-fS8Ytfbx8rsmpwXhPw"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div style="font-size:12px;"><div><div><div><div><div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Real estate businesses spend endless hours on manual data entry and reconciliation. They also need days to approve expenses, collect receipts, and create reports that still contain errors.&nbsp;</span></p><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);"><br></span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Additionally, you also need to pay wages for the time given by your employees.&nbsp;</span></p><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);"><br></span></p></div><div><p><span style="color:rgba(0, 0, 0, 0.89);font-size:11pt;">An Expense management solution can help entrepreneurs save time, resources and money in multiple ways. The top contributor is&nbsp;</span><a href="http://r%20insights/Automation%20at%20scale%20The%20benefits%20for%20payers/Automation-at-scale-The-benefits-for-payers.pdf" target="_blank" rel="noreferrer noopener"><span style="font-size:11pt;color:rgb(72, 118, 232);">automation that can help organizations save $16 trillion</span></a><span style="font-size:11pt;"><span style="color:rgb(72, 118, 232);"> </span><span style="color:rgba(0, 0, 0, 0.89);">in annual salaries.&nbsp;</span></span></p><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);"><br></span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">You can automate your data entry, receipt collection, and even reconciliations. Additionally, you can create reports with a few clicks and get to the bottom of every transaction in seconds.&nbsp;</span></p><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);"><br></span></p></div><div><p><span style="color:rgba(0, 0, 0, 0.89);font-size:11pt;">According to research, </span><a href="https://www.workmarket.com/go/2020-insight-report-what-ai-automation-mean-for-work" target="_blank" rel="noreferrer noopener"><span style="font-size:11pt;color:rgb(72, 118, 232);">54% of the workforce believes they can conserve 240 hours every year</span></a><span style="color:rgba(0, 0, 0, 0.89);font-size:11pt;"> through automation. Additionally, you can also save the wages you would otherwise pay for those hours.&nbsp;</span></p><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);"><br></span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Moreover, real estate agencies can automate approvals with expense management software. They can also speed up reimbursements and pay your vendors on time.&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Best of all, you can use your free time to grow your business and boost productivity.&nbsp;</span></p></div></div></div></div></div></div></div></div>
</div><div data-element-id="elm_xsZPIjMsMDP5tziyulBUnw" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_xsZPIjMsMDP5tziyulBUnw"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><font color="#16165a"><b>Generate valuable insights</b></font></h2></div>
<div data-element-id="elm_iOmkWBr6UcJcdL457crEaw" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_iOmkWBr6UcJcdL457crEaw"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div style="font-size:12px;"><div><div><div><div><div><div><div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Expense management software provides real-time visibility and control over your expenses. Additionally, you get a host of reports and analytics to make out your financial position.&nbsp;</span></p><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);"><br></span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Entrepreneurs can use the data to spot trends and patterns in their business spending. They can drive actionable insights and optimize spending to generate more value.&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">For example, your software can help you zero in on expenses that are no longer necessary. You might find you are paying for a service that you don’t use anymore.</span></p><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);"><br></span></p><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Therefore, you can&nbsp;take action&nbsp;and reduce your spending or choose another service.&nbsp;</span></p><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);"><br></span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">In addition, you can integrate your expense management software with your accounting solution. The process will help you streamline processes further and simplify reconciliation.&nbsp;</span></p><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);"><br></span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">You can also get&nbsp;ready information&nbsp;when you want to close your books or maintain your accounts.&nbsp;</span></p></div></div></div></div></div></div></div></div></div></div>
</div><div data-element-id="elm_jVra-VN5vaoqg8ymUDP4NQ" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_jVra-VN5vaoqg8ymUDP4NQ"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><font color="#16165a"><b>Implement your expense management software with KriyaGo</b></font></h2></div>
<div data-element-id="elm_2cPnEwXeZ64Kba0nTZvi5Q" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_2cPnEwXeZ64Kba0nTZvi5Q"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div style="font-size:12px;"><div><div><div><div><div><div><div><div><div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Real estate agencies need to work with a solid partner to set up and implement expense management solutions.&nbsp;KriyaGo&nbsp;works with reputed software vendors to offer entrepreneurs the best experience.&nbsp;</span></p><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);"><br></span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">We can help you get started with leading products like SAP Concur,&nbsp;Yardi, or&nbsp;Procore. Our team can also provide expertise, train your team, and help automate your business processes.&nbsp;</span></p><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);"><br></span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Get in touch with us today to tell us your requirements. You can also contact us for a free consultation of 1 hour to discuss your needs.&nbsp;</span></p></div></div></div></div></div></div></div></div></div></div></div></div>
</div><div data-element-id="elm_lwZncLG5Na7bQljx6AnUBA" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_lwZncLG5Na7bQljx6AnUBA"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><font color="#16165a"><b>Final thoughts</b></font></h2></div>
<div data-element-id="elm_3zYi3xJKdurh70PfAAUHpw" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_3zYi3xJKdurh70PfAAUHpw"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div style="font-size:12px;"><div><div><div><div><div><div><div><div><div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Expense management software is the need of the hour for real estate agencies. The solution can help them save time, cut costs, and improve operational efficiency. They can also improve data accuracy, remove duplicates, and automate most processes to boost productivity. Additionally, a digital tool can provide complete visibility into expenses and help optimize business spending.&nbsp;</span><br></p></div></div></div></div></div></div></div></div></div></div></div></div>
</div></div></div></div></div></div> ]]></content:encoded><pubDate>Thu, 04 Nov 2021 15:56:33 -0400</pubDate></item><item><title><![CDATA[The Top Real Estate Processes You Should Outsource ]]></title><link>https://www.kriyago.com/blogs/post/the-top-real-estate-processes-you-should-outsource1</link><description><![CDATA[<img align="left" hspace="5" src="https://www.kriyago.com/When Should You Start Outsourcing Your Business Processes - squr.png"/>Working in the real estate industry is not easy. Expanding client base, handling tenants, and marketing properties--real estate management constitutes ]]></description><content:encoded><![CDATA[<div class="zpcontent-container blogpost-container "><div data-element-id="elm_zUb8Ty2ZQUWPzEJ-edYFBg" data-element-type="section" class="zpsection "><style type="text/css"></style><div class="zpcontainer-fluid zpcontainer"><div data-element-id="elm_GcNCaTXMQMS_vWvji-_5zQ" data-element-type="row" class="zprow zprow-container zpalign-items- zpjustify-content- " data-equal-column=""><style type="text/css"></style><div data-element-id="elm_fFDefSJHRl-8zzhKbqM-QQ" data-element-type="column" class="zpelem-col zpcol-12 zpcol-md-12 zpcol-sm-12 zpalign-self- "><style type="text/css"></style><div data-element-id="elm_X7rP9Iq5MQhikPoWG740Xg" data-element-type="image" class="zpelement zpelem-image "><style> [data-element-id="elm_X7rP9Iq5MQhikPoWG740Xg"].zpelem-image { border-radius:1px; } </style><div data-caption-color="" data-size-tablet="size-original" data-size-mobile="size-original" data-align="center" data-tablet-image-separate="" data-mobile-image-separate="" class="zpimage-container zpimage-align-center zpimage-size-large zpimage-tablet-fallback-large zpimage-mobile-fallback-large hb-lightbox " data-lightbox-options="
                type:fullscreen,
                theme:dark"><figure role="none" class="zpimage-data-ref"><span class="zpimage-anchor" role="link" tabindex="0" aria-label="Open Lightbox" style="cursor:pointer;"><picture><img class="zpimage zpimage-style-none zpimage-space-none " src="/When%20Should%20You%20Start%20Outsourcing%20Your%20Business%20Processes%20-%20rect.png" size="large" alt="The Top Real Estate Processes You Should Outsource " data-lightbox="true" style="width:1280px;padding:0px;margin:0px;"/></picture></span></figure></div>
</div><div data-element-id="elm_hBuj77HRQwWtgpGahEIOkw" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_hBuj77HRQwWtgpGahEIOkw"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div><div style="font-size:12px;"><div><div><p><span style="font-size:14px;color:rgba(0, 0, 0, 0.89);">Working in the real estate industry is not easy. Expanding client base, handling tenants, and marketing properties--real estate management constitutes a multitude of tasks. While each of them is equally important, you can manage your work better by outsourcing a part of your property management.&nbsp;&nbsp;</span></p></div><div><p><span style="font-size:14px;color:rgba(0, 0, 0, 0.89);">&nbsp;</span></p></div><div><p><span style="font-size:14px;"><span style="color:rgba(0, 0, 0, 0.89);">According to a&nbsp;</span><a href="https://www.jll.de/content/dam/jll-com/documents/pdf/other/global/Future-of-work-Insights-Global-CRE-outsourcing-trends-JLL.pdf" target="_blank" rel="noreferrer noopener" style="color:rgb(72, 118, 232);">survey by JJL</a><span style="color:rgba(0, 0, 0, 0.89);">, facilities and property management is the most outsourced CRE activity. Whether you want to improve your marketing or lower your workload, here is a list of all the tasks you can outsource to streamline property management.&nbsp;&nbsp;</span></span></p></div></div></div></div></div>
</div><div data-element-id="elm_NWa8kee1Q6m3neRi0cb8kw" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_NWa8kee1Q6m3neRi0cb8kw"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><span style="font-size:31px;font-weight:700;color:rgb(22, 22, 90);">Lead generation and nurturing</span><br></h2></div>
<div data-element-id="elm_r5CXyxR4r0jMljUCFFMJHw" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_r5CXyxR4r0jMljUCFFMJHw"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div><div style="font-size:12px;"><div><div><div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Successful property management depends on market creation and retention. Lead generation is necessary to expand your clientele. For a highly competitive industry like CRE, lead generation and nurturing is a continuous process that can take up a lot of your time.&nbsp;&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">&nbsp;</span></p></div><div><p><span style="color:rgba(0, 0, 0, 0.89);font-size:11pt;">By outsourcing this task, property managers can not only focus on other business tasks but also generate leads more effectively. A report by&nbsp;</span><a href="http://www.fearlesscompetitor.com/2011/02/02/outsourced-lead-generation-brings-43-better-results-than-in-house/" target="_blank" rel="noreferrer noopener"><span style="font-size:11pt;color:rgb(72, 118, 232);">Fearless Competitor</span></a><span style="color:rgba(0, 0, 0, 0.89);font-size:11pt;">&nbsp;states that outsourcing lead generation can give 43% better results than having an in-house team.&nbsp;</span></p></div></div></div></div></div></div></div>
</div><div data-element-id="elm_bSKtiDwxysrB1biEAcRqOQ" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_bSKtiDwxysrB1biEAcRqOQ"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><span style="font-size:31px;font-weight:700;color:rgb(22, 22, 90);">Digital marketing</span><br></h2></div>
<div data-element-id="elm_Q_Hs1H3lMrs7OOLO4ZJCCw" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_Q_Hs1H3lMrs7OOLO4ZJCCw"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div><div style="font-size:12px;"><div><div><div><div><div><div><p><span style="color:rgba(0, 0, 0, 0.89);font-size:11pt;">Digital marketing is one of the best ways to increase brand visibility. With more than&nbsp;</span><a href="https://backlinko.com/social-media-users" target="_blank" rel="noreferrer noopener"><span style="font-size:11pt;color:rgb(72, 118, 232);">3.96 billion people</span></a><span style="color:rgba(0, 0, 0, 0.89);font-size:11pt;">&nbsp;using social media, it has become the biggest platform for advertising. Digital marketing agencies can help market your business by targeting the right audience. They have the required tools and technology to quantify viewer responses. By outsourcing digital marketing, you can increase sales by displaying ads in front of an interested group.&nbsp;&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">For example, if you want to advertise commercial properties, LinkedIn serves as a better platform. Similarly, digital marketing agencies can find the right groups and platforms and increase brand awareness.&nbsp;&nbsp;</span></p></div></div></div></div></div></div></div></div></div>
</div><div data-element-id="elm_1HFT5QRuMRHzoYO1QcldMA" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_1HFT5QRuMRHzoYO1QcldMA"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><span style="font-size:31px;font-weight:700;color:rgb(22, 22, 90);">Back office accounting</span><br></h2></div>
<div data-element-id="elm_jLtX6oWl1DpM_pFOIKiJ-g" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_jLtX6oWl1DpM_pFOIKiJ-g"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div><div style="font-size:12px;"><div><div><div><div><div><div><div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Every real estate business needs accurate accounting. As it is not a core task, an internal team dedicated to accounting will be expensive to maintain. Onboarding new members and training them will not only cost you more but will also be a lengthy process. And if you hire experienced accountants, the employee compensation will be very high.&nbsp;&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">By outsourcing, you get access to trained resources and better software while ensuring that the accounting processes are in safe hands. You can take better control of your finances and also leverage accurate data.</span></p></div></div></div></div></div></div></div></div></div></div></div>
</div><div data-element-id="elm_PL4msEQ2Y6Qr7VHXLa4yDA" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_PL4msEQ2Y6Qr7VHXLa4yDA"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><span style="font-size:31px;font-weight:700;color:rgb(22, 22, 90);">Data analytics</span><br></h2></div>
<div data-element-id="elm_G1TYj7QTznoXb_eyMbG0lA" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_G1TYj7QTznoXb_eyMbG0lA"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div><div style="font-size:12px;"><div><div><div><div><div><div><div><div><div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Investments in real estate are directed by data and insights. If you use any kind of real estate software such as accounting or CRM, the huge data it generates can be converted into valuable insights that drive company profits. Identifying trends in the consumer behavior can also help you improve relationships with tenants and clients. Instead of intuition-based decisions, data lets you make informed investments.&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">But to analyze the data accurately, you will need the right balance of human resources and technology. Outsourcing companies dedicated to data analysis generate relevant insights through their trained staff and analysis software.&nbsp;&nbsp;</span></p></div></div></div></div></div></div></div></div></div></div></div></div></div>
</div><div data-element-id="elm_G3PAEYQaiQe8Zky_Kz2CEQ" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_G3PAEYQaiQe8Zky_Kz2CEQ"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><span style="color:rgb(22, 22, 90);font-size:31px;font-weight:700;">CAM Reconciliation</span></h2></div>
<div data-element-id="elm_MMH5AojRp4CXIkLqV-rYfw" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_MMH5AojRp4CXIkLqV-rYfw"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div><div style="font-size:12px;"><div><div><div><div><div><div><div><div><div><div><div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Common area maintenance expenses can be difficult to calculate. As they vary every year, CAM reconciliation consumes a lot of time and resources. Lease duration, occupancy, and local laws all come into consideration while calculating CAM expenses. Any error in reconciliations can have a direct impact on company revenue.&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Hiring a managed service provider like KriyaGo is one of the best ways to manage common area maintenance expenses. Through trained accountants, your CAM reconciliations are accurate and balanced. You can also access periodic reports to understand CAM expenses and ensure compliance.&nbsp;&nbsp;</span></p></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div>
</div><div data-element-id="elm_WPx5YdbJnU-vNxDCTpE1rQ" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_WPx5YdbJnU-vNxDCTpE1rQ"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><span style="color:rgb(22, 22, 90);font-size:31px;font-weight:700;">Bookkeeping</span></h2></div>
<div data-element-id="elm_z4Si2MbURDO1DwRKhVZXfw" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_z4Si2MbURDO1DwRKhVZXfw"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div><div style="font-size:12px;"><div><div><div><div><div><div><div><div><div><div><div><div><div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">You need to regularly keep track of your business revenue and expenses. With many tasks at hand, managing ledgers and accounts can be tedious. A missed entry, a duplicate transaction, or inaccurate details can cause problems during tax season. That’s why property managers hire real estate bookkeeping services.&nbsp;&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">The service providers manage your expenses, reconcile the books with your bank account and point out any discrepancies. They also keep track of your accounts payable and receivable and regularly update your records as needed.&nbsp;</span></p></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div>
</div><div data-element-id="elm_BRN4dzd-MMpOOdespC9rPw" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_BRN4dzd-MMpOOdespC9rPw"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><span style="color:rgb(22, 22, 90);font-size:31px;font-weight:700;">Lease abstraction</span></h2></div>
<div data-element-id="elm_SmXRbsu8mtONgOOUDyzCzQ" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_SmXRbsu8mtONgOOUDyzCzQ"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div><div style="font-size:12px;"><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">The real estate industry is incomplete without lease papers. Most tenants fail to understand the legal jargon in the lengthy lease documents. So, property management companies prepare abstracts for a better understanding of leases.&nbsp;&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">These abstracts are condensed versions of the existing lease. The right service provider will identify the important terms from the lease and provide you templates for the abstracts. Depending on your requirements, you can also get the lease abstracted in multiple languages.&nbsp;&nbsp;</span></p></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div>
</div><div data-element-id="elm_HR1q8u1mIigZz-Xzcx8YyQ" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_HR1q8u1mIigZz-Xzcx8YyQ"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><span style="color:rgb(22, 22, 90);font-size:31px;font-weight:700;">Lease audits</span></h2></div>
<div data-element-id="elm_culDRlA-5JieI9tH8ane8A" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_culDRlA-5JieI9tH8ane8A"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div><div style="font-size:12px;"><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">One reason why leases are complicated is that they need to account for every possible situation. This adds more clauses allowing more room for error. Even if you prepare abstracts, lease audits let you ensure that both your documents are error-free.&nbsp;&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Whether it is inaccurate data or missing clauses, a single mistake in the lease costs a lot of money. Managed service providers handle validity checks, resolve disputes and verify data to make your leases and abstracts accurate.&nbsp;&nbsp;</span></p></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div>
</div><div data-element-id="elm_SyGEeiM8jI7U51IcZCfnMA" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_SyGEeiM8jI7U51IcZCfnMA"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><span style="color:rgb(22, 22, 90);font-size:31px;font-weight:700;">Property management tech solutions</span></h2></div>
<div data-element-id="elm_uUiKLC1-Q8Tys4Bz1zD1HA" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_uUiKLC1-Q8Tys4Bz1zD1HA"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div><div style="font-size:12px;"><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Property management is easier by leveraging technology. Various software and tools are designed to assist real estate managers in different functions. From maintenance to CRM, property management software can handle almost every task. But efficient software usage requires relevant skills and experience.&nbsp;&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Outsourcing your software requirements gives you access to state-of-art tools, resources, and platforms. The service provider can also help you customize the software for additional features according to business needs.&nbsp;&nbsp;</span></p></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div>
</div><div data-element-id="elm_pS0gF5qFOVZ4PKwuVmDKsw" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_pS0gF5qFOVZ4PKwuVmDKsw"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><span style="color:rgb(22, 22, 90);font-size:31px;font-weight:700;">Outsourcing your real estate processes to KriyaGo</span></h2></div>
<div data-element-id="elm_VDXbpWU6MpN6RVwpUxlu0A" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_VDXbpWU6MpN6RVwpUxlu0A"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><div><div style="font-size:12px;"><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Property management has several options for outsourcing. You can reduce your workload by hiring a managed service provider. Companies like KriyaGo understand property managers and provide services like CAM reconciliations, lease abstractions, and lease audits. We also handle your finances through back-office accounting services.&nbsp;&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">Our experts and top resources make us one of the best options for outsourcing. We listen to your requirements and create strategies that suit your business. No matter the size of your business, KriyaGo offers outsourcing services to everyone.&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">We also understand that your data is valuable and ensure that all the information is safe with us. By choosing KriyaGo, you can streamline your property management through outsourcing.&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">&nbsp;</span></p></div><div><p><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">To know more about our services--reach out to KriyaGo!&nbsp;</span></p></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div>
</div></div></div></div></div></div> ]]></content:encoded><pubDate>Fri, 20 Aug 2021 09:00:00 -0400</pubDate></item><item><title><![CDATA[IFRS 16: Are You Ready For The Big Change?]]></title><link>https://www.kriyago.com/blogs/post/ifrs-16-are-you-ready-for-the-big-change</link><description><![CDATA[<img align="left" hspace="5" src="https://www.kriyago.com/IFRS 16_ Are You Ready For The Big Change_  - sq.png"/>The International Accounting Standards Board (IASB) introduced IFRS 16 Leases in January 2016. IFRS 16 brings a new lease accounting system, changing ]]></description><content:encoded><![CDATA[<div class="zpcontent-container blogpost-container "><div data-element-id="elm_NHLw2V4CR6OYRuoSRcqw0g" data-element-type="section" class="zpsection "><style type="text/css"></style><div class="zpcontainer-fluid zpcontainer"><div data-element-id="elm_ke2iX_KcSvSaMQNxPIFF5w" data-element-type="row" class="zprow zprow-container zpalign-items- zpjustify-content- " data-equal-column=""><style type="text/css"></style><div data-element-id="elm_HFonyi7wSIGJs26UuGByoQ" data-element-type="column" class="zpelem-col zpcol-12 zpcol-md-12 zpcol-sm-12 zpalign-self- "><style type="text/css"></style><div data-element-id="elm_v5DYVTursUbOZ9tnddq1ZA" data-element-type="image" class="zpelement zpelem-image "><style> [data-element-id="elm_v5DYVTursUbOZ9tnddq1ZA"].zpelem-image { border-radius:1px; } </style><div data-caption-color="" data-size-tablet="size-original" data-size-mobile="size-original" data-align="center" data-tablet-image-separate="" data-mobile-image-separate="" class="zpimage-container zpimage-align-center zpimage-size-large zpimage-tablet-fallback-large zpimage-mobile-fallback-large hb-lightbox " data-lightbox-options="
                type:fullscreen,
                theme:dark"><figure role="none" class="zpimage-data-ref"><span class="zpimage-anchor" role="link" tabindex="0" aria-label="Open Lightbox" style="cursor:pointer;"><picture><img class="zpimage zpimage-style-none zpimage-space-none " src="/IFRS%2016_%20Are%20You%20Ready%20For%20The%20Big%20Change_%20%20-%20rect.png" size="large" alt="IFRS 16: Are You Ready For The Big Change?" data-lightbox="true" style="width:1280px;"/></picture></span></figure></div>
</div><div data-element-id="elm_eJFyfaAqStWA-rIZT8QS0w" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_eJFyfaAqStWA-rIZT8QS0w"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">The International Accounting Standards Board (IASB) introduced IFRS 16 Leases in January 2016. IFRS 16 brings a new lease accounting system, changing the way companies report under IFRS.</span></p><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">&nbsp;&nbsp;</span></p><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">Almost all companies utilize leasing in some form or the other, with some leasing retail spaces while others lease cars, cell towers, and aircraft. These changes are effective from 1 January 2019.</span></p><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">&nbsp;&nbsp;</span></p><p></p><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">Our guide to IFRS 16 aims to simplify the key areas and prepare you for the potential changes in your business and accounting models.</span></p></div>
</div><div data-element-id="elm_E9hkgeNWQVSRPbPyBic2eg" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_E9hkgeNWQVSRPbPyBic2eg"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><span style="font-weight:700;font-size:28px;">Key Points</span><br></h2></div>
<div data-element-id="elm_V3efeFO4g7UEAZJxzqkgtA" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_V3efeFO4g7UEAZJxzqkgtA"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><ul><li><span style="color:rgba(0, 0, 0, 0.89);font-size:14.666px;">IFRS 16--the new lease standard affects companies that adopt International Financial Reporting Standards (IFRS) with effect from 1 January 2019.</span></li><li><span style="color:rgba(0, 0, 0, 0.89);font-size:14.666px;">No scope for off-balance sheet accounting for lessees. Balance sheets will show all assets and liabilities, which impacts KPIs.</span></li><li><span style="color:rgba(0, 0, 0, 0.89);font-size:14.666px;">There will be a significant impact on the business models of lessors, leading to more focus on services rather than tangible assets.</span></li><li><span style="color:rgba(0, 0, 0, 0.89);font-size:14.666px;">Lessees will need more data around their leases.</span></li><li><span style="color:rgba(0, 0, 0, 0.89);font-size:14.666px;">Understanding the new standards can prepare you for the potential issues and transition options.</span></li></ul></div>
</div><div data-element-id="elm_QfpQUBLxzb_5Y8Yty-Ub3Q" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_QfpQUBLxzb_5Y8Yty-Ub3Q"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><span style="font-size:28px;font-weight:600;"><b>What has changed under IFRS 16?</b></span><br></h2></div>
<div data-element-id="elm_4ieGakCDyKt3lsVt9pNyBA" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_4ieGakCDyKt3lsVt9pNyBA"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><p><span style="color:rgba(0, 0, 0, 0.89);font-size:14.6px;">The new accounting standard brings significant changes in lease arrangements and affects both lessees and lessors.</span></p><p><span style="color:rgba(0, 0, 0, 0.89);font-size:14.6px;">&nbsp;</span></p><p><span style="color:rgba(0, 0, 0, 0.89);font-size:14.6px;">Lessee accounting will be most affected as they are required to identify all leases on the balance sheets. This shows their right on the allocated property for the lease period and makes them liable to all payments associated with that property.</span></p><p><span style="color:rgba(0, 0, 0, 0.89);font-size:14.6px;">&nbsp;</span></p><p><span style="color:rgba(0, 0, 0, 0.89);font-size:14.6px;">However, lessor accounting does not undergo many changes. They may need to restructure the existing leases along with the lessees.</span></p><p><span style="color:rgba(0, 0, 0, 0.89);font-size:14.6px;">&nbsp;</span></p><p style="font-size:11pt;"></p><p><span style="font-size:14.6px;"><a href="https://www.pwc.com/sk/en/audit/assets/2017/a-study-on-the-impact-of-lease-capitalisation.pdf" style="color:rgb(72, 118, 232);">A 2016 study by PWC</a><span style="color:rgba(0, 0, 0, 0.89);"> talks about the effect of IFRS 16 on financial ratios which differs significantly depending on the industry.</span></span></p></div>
</div><div data-element-id="elm_onad-Bc1o5c2p0c8y07DPQ" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_onad-Bc1o5c2p0c8y07DPQ"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><span style="font-size:28px;font-weight:600;"><b>What is in scope?</b></span><br></h2></div>
<div data-element-id="elm_6QJa71zKFdziLIzCPAiAOg" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_6QJa71zKFdziLIzCPAiAOg"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">As the new system requires the lessee to identify all the leases on the balance sheet, separating lease and non-lease components becomes even more critical.</span></p><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">&nbsp;</span></p><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">Under the new system, a contract is considered a lease only if the involved asset is identified.</span></p><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">&nbsp;</span></p><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">For example, let's suppose a person enters into a two-year contract with a stadium owner for a stall near the entrance. The agreement only states that the person is allocated one among the many stalls inside the stadium premises.</span></p><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">&nbsp;</span></p><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">The stadium owner can change the allocated stall any number of times during the contract. This is because this contract doesn't contain a lease, as the allocated property isn't &quot;identified.&quot;</span></p><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">&nbsp;</span></p><p></p><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">To analyze a contract, you need to go through the </span><a href="https://www.ifrs.org/content/dam/ifrs/project/leases/ifrs/published-documents/ifrs16-effects-analysis.pdf" style="color:rgb(72, 118, 232);">detailed guidelines</a><span style="color:rgba(0, 0, 0, 0.89);"> in the IFRS 16 and check if the contract meets the definition of a lease. Assessing this early on is essential as it sets the base for future accounting of the contract. Lessors and lessees may need access to additional data to make the proper judgment.</span></p></div>
</div><div data-element-id="elm_byuDK6wif-EV7xJuL8tU4w" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_byuDK6wif-EV7xJuL8tU4w"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><span style="font-size:28px;font-weight:600;"><b>The new model for accounting</b></span><br></h2></div>
<div data-element-id="elm_ciqVDBKLLOamb8TpaEHR6g" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_ciqVDBKLLOamb8TpaEHR6g"].zpelem-heading { border-radius:1px; } </style><h3
 class="zpheading zpheading-style-none zpheading-align-left " data-editor="true"><span style="font-size:25px;font-weight:600;">Initial recognition</span><br></h3></div>
<div data-element-id="elm_sJWBBHTbz6CSYIMjlKr6XA" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_sJWBBHTbz6CSYIMjlKr6XA"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><p style="font-size:11pt;"><span style="color:inherit;"></span></p><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">Using the leased asset increases the value of the business. So, the lessee should identify it in their balance sheet, which shows their right on the leased property (ROU) along with the liabilities associated with the property.</span></p></div>
</div><div data-element-id="elm_0Wt2H5jIV5PRhJvnL4_ETA" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_0Wt2H5jIV5PRhJvnL4_ETA"].zpelem-heading { border-radius:1px; } </style><h3
 class="zpheading zpheading-style-none zpheading-align-left " data-editor="true"><span style="font-size:25px;font-weight:600;">Lease liability</span><br></h3></div>
<div data-element-id="elm_9AUyPx2a48VlNYpqm8Uedg" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_9AUyPx2a48VlNYpqm8Uedg"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><p><span style="color:rgba(0, 0, 0, 0.89);font-size:14.66px;">The lease term can be defined as the non-cancellable period of the lease. It also includes the periods providing an option of extending or not extending the lease, depending on the lessee.</span></p><p><span style="color:rgba(0, 0, 0, 0.89);font-size:14.66px;">&nbsp;</span></p><p><span style="color:rgba(0, 0, 0, 0.89);font-size:14.66px;">Initially, you can calculate the liability as equal to the value of payments over the lease term. You need to consider the payments under the lease depending on how the lease term is defined. As the lessee has both options, to extend or not extend the lease term, use your judgment to determine a likely possibility.</span></p><p><span style="color:rgba(0, 0, 0, 0.89);font-size:14.66px;">&nbsp;</span></p><p><span style="color:rgba(0, 0, 0, 0.89);font-size:14.66px;">Lease liabilities are payments that are not paid on the date of commencement. This includes several ranges of payments:</span></p><ul><li><span style="color:rgba(0, 0, 0, 0.89);font-size:14.66px;">Fixed payments include those payments that are made after gauging the capability of the asset in generating revenue.</span></li><li><span style="color:rgba(0, 0, 0, 0.89);font-size:14.66px;">Variable payments are initially determined using the rate or index on the date of commencement should also be included.</span></li><li><span style="color:rgba(0, 0, 0, 0.89);font-size:14.66px;">If the lessee is likely to purchase the property at the end of the lease, you can include this price.</span></li><li><span style="color:rgba(0, 0, 0, 0.89);font-size:14.66px;">You can also include penalty payments in case the lessee breaks the lease before its term.</span></li></ul></div>
</div><div data-element-id="elm_qOFgsI9eWOAXK_qZL6ZBxA" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_qOFgsI9eWOAXK_qZL6ZBxA"].zpelem-heading { border-radius:1px; } </style><h3
 class="zpheading zpheading-style-none zpheading-align-left " data-editor="true"><span style="font-size:25px;font-weight:600;">Calculation of present value&nbsp;</span><br></h3></div>
<div data-element-id="elm_Ik2ySEISA_Ks_Lr01RlKTw" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_Ik2ySEISA_Ks_Lr01RlKTw"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><p><span style="color:inherit;"></span></p><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">Calculating an exact discount rate depends on many things like the implicit rate in the lease, the investor's IRR, or the lessee's borrowing rate. It also involves a significant amount of judgment, which can make the rate determination even more complex.</span></p></div>
</div><div data-element-id="elm_4PXA6hGu62f8u34SH4hcrA" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_4PXA6hGu62f8u34SH4hcrA"].zpelem-heading { border-radius:1px; } </style><h3
 class="zpheading zpheading-style-none zpheading-align-left " data-editor="true"><span style="font-size:25px;font-weight:600;">Right of use asset</span><br></h3></div>
<div data-element-id="elm_pfa_zVdVJ2Pc_fAkEqqK2A" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_pfa_zVdVJ2Pc_fAkEqqK2A"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><p><span style="color:inherit;"></span></p><p style="font-size:11pt;"><span style="color:inherit;"></span></p><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">During the lease, the lessee has the right to the leased property. This is termed as the right of use (ROU) asset. You can calculate it, keeping in mind all the future payments under the agreement minus the incentives received and the initial costs.</span></p></div>
</div><div data-element-id="elm_NTJ3vSeUocniQACYZgKKhQ" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_NTJ3vSeUocniQACYZgKKhQ"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><span style="font-size:28px;font-weight:600;"><b>Subsequent measurement</b></span><br></h2></div>
<div data-element-id="elm_jye-S2ZWQzbfwF0JfAb8jw" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_jye-S2ZWQzbfwF0JfAb8jw"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><p><span style="color:inherit;"></span></p><p style="font-size:11pt;"><span style="color:inherit;"></span></p><p style="font-size:11pt;"><span style="color:inherit;"></span></p><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">The depreciation or annual review of the lease depends on how it is reviewed under the Cost or Revaluation model of IAS 16. Any changes made to the lease require careful consideration, as they can call for adjustments to the lease liability and the ROU.</span></p></div>
</div><div data-element-id="elm_SyneJyMthp_-ZebtMR9P8g" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_SyneJyMthp_-ZebtMR9P8g"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><span style="font-size:28px;font-weight:600;"><b>Transition options</b></span><br></h2></div>
<div data-element-id="elm_1LWhdrIxwDrp_LPlF82S8Q" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_1LWhdrIxwDrp_LPlF82S8Q"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><p><span style="color:inherit;"></span></p><p style="font-size:11pt;"><span style="color:inherit;"></span></p><p style="font-size:11pt;"><span style="color:inherit;"></span></p><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">Companies need to apply the new standards in a retrospective manner to make easier comparisons between periods.</span></p><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">&nbsp;</span></p><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">A lessee has two options for retrospective transition: the full transition approach or the modified transition approach.</span></p><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">&nbsp;</span></p><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">The full retrospective transition approach requires you to apply the new standards to all the prior reporting periods.</span></p><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">&nbsp;</span></p><p style="font-size:11pt;"></p><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">The modified retrospective approach involves several transitions, simplifying the accounting in the initial year of application. To make proper transitions, overall assessment of these options is required.</span></p></div>
</div><div data-element-id="elm_B4EmaZt8ZG4lFnBUwz-tJg" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_B4EmaZt8ZG4lFnBUwz-tJg"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><span style="font-size:30px;font-weight:600;"><b>The impact of IFRS 16 on the real estate industry</b></span><br></h2></div>
<div data-element-id="elm_HXphslx9tenHuZjDxrtLxg" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_HXphslx9tenHuZjDxrtLxg"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><p><span style="color:inherit;"></span></p><p style="font-size:11pt;"><span style="color:inherit;"></span></p><p style="font-size:11pt;"><span style="color:inherit;"></span></p><p style="font-size:11pt;"><span style="color:inherit;"></span></p><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">Almost every industry depends on leases in some form or the other. The type of leasing depends on the company's requirements. For example, utility companies will lease power plants, whereas airline companies lease aircraft and communication companies lease optic fiber networks. That is why IFRS 16 has impacted every industry differently.</span></p></div>
</div><div data-element-id="elm_gq9g_MKK1r-ZpS6n1GSKjA" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_gq9g_MKK1r-ZpS6n1GSKjA"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><span style="font-size:28px;font-weight:600;"><b>The Real Estate Industry</b></span><br></h2></div>
<div data-element-id="elm_cME6t7RGc32WxMjaox0Fnw" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_cME6t7RGc32WxMjaox0Fnw"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><p style="font-size:11pt;"></p><p style="font-size:11pt;"></p><p style="font-size:11pt;"></p><p style="font-size:11pt;"></p><p><span style="font-size:14.6667px;color:rgba(0, 0, 0, 0.89);">There is a considerable impact on the real estate lessor and their business models due to the change in accounting by the lessees. <a href="https://www.lexology.com/library/detail.aspx?g=8399f053-201c-49b8-bc60-e25723e6a87f">A 2019 study by CMS</a> says that IFRS 16 can influence the length of leases taken by tenants.</span></p><ul><li><span style="font-size:14.6667px;color:rgba(0, 0, 0, 0.89);">Changing lessee needs: Due to changes in the system, short-term leases can become popular among lessees. They can also request a variable lease payment, which can be risky for lessors. Real estate lessors may find it impractical to ask for higher lease rates, which can directly impact the pricing. This means that the lessor's investment will perform poorly.</span></li><li><span style="font-size:14.6667px;color:rgba(0, 0, 0, 0.89);">New service opportunities: The changing needs of lessees provides opportunities for newer services into the real estate business. The new lease standards shift the focus on services, making a change in the business model an inevitable process.</span></li></ul><div><span style="color:rgba(0, 0, 0, 0.89);font-size:14.6667px;"><br></span></div><p style="line-height:1.5;"><span style="font-size:14.6667px;color:rgba(0, 0, 0, 0.89);">There will be no significant impact on the accounting method followed by the lessors. Their main focus should be on redesigning their business models to suit the needs of the lessees.</span></p></div>
</div><div data-element-id="elm_i5sFu9iwcgoZWz3o8rhzNg" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_i5sFu9iwcgoZWz3o8rhzNg"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><span style="font-size:30px;font-weight:600;"><b>Are you ready?</b></span><br></h2></div>
<div data-element-id="elm_5oWwhEjiEKm8nLREGmOoqQ" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_5oWwhEjiEKm8nLREGmOoqQ"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><p style="font-size:11pt;"></p><p style="font-size:11pt;"></p><p style="font-size:11pt;"></p><p style="font-size:11pt;"></p><p style="font-size:11pt;"><a href="https://www.uzh.ch/cmsssl/curem/dam/jcr%3Aadfda69e-a942-439f-af9b-1dcb4fd3ff93/Allami_Hazar_AbAr_Lg18-19.pdf" style="color:rgb(72, 118, 232);">According to a 2019 study</a><span style="color:rgba(0, 0, 0, 0.89);"> by Dr. Fabian Wildenauer, the new lease accounting system introduces greater transparency. But, it also brings many challenges for businesses. If you are yet to follow the new system, it is better to ensure compliance by understanding the process.</span></p><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">&nbsp;</span></p><p></p><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">According to IFRS 16, you should enter all the operating leases in the balance sheet in the form of assets and liability. Implementing the new standard has a high cost and can also impact the financing decisions of your business.</span></p></div>
</div><div data-element-id="elm_u6apk6iNgAbIjDTq3yS-2w" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_u6apk6iNgAbIjDTq3yS-2w"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><span style="font-size:28px;font-weight:600;"><b>What you need to do:</b></span><br></h2></div>
<div data-element-id="elm_Ih0i5oWQ3CBrZvSlhNIEfw" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_Ih0i5oWQ3CBrZvSlhNIEfw"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><p style="font-size:11pt;"></p><p style="font-size:11pt;"></p><p style="font-size:11pt;"></p><p style="font-size:11pt;"></p><p style="font-size:11pt;"><span style="font-size:11pt;color:rgba(0, 0, 0, 0.89);">The stages of getting your business ready for IFRS 16 include:</span><br></p></div>
</div><div data-element-id="elm_oRMZkgOmAV47DS7tgCQ9Yw" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_oRMZkgOmAV47DS7tgCQ9Yw"].zpelem-heading { border-radius:1px; } </style><h3
 class="zpheading zpheading-style-none zpheading-align-left " data-editor="true"><span style="font-size:25px;font-weight:600;">Organizing your data</span><br></h3></div>
<div data-element-id="elm_G6dkbD2NjDdSaG2uPsAqIA" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_G6dkbD2NjDdSaG2uPsAqIA"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><p style="font-size:11pt;"></p><p style="font-size:11pt;"></p><p style="font-size:11pt;"></p><p style="font-size:11pt;"></p><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">Having accurate and up-to-date information about your leases is essential for this new system. It is difficult to find relevant information as most clients utilize outdated systems to store data.</span></p><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);"><br></span></p><p style="font-size:11pt;"></p><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">The solution is to collect all the available data, even if it is in physical copies. To organize this data, you can use artificial intelligence or OCR software. It can create a spreadsheet containing all IFRS 16 compliant information. KriyaGo can help you by finding the right tools to build software according to your requirements.</span></p></div>
</div><div data-element-id="elm_Dcvtv2fC2WVrbf3h1DyiIA" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_Dcvtv2fC2WVrbf3h1DyiIA"].zpelem-heading { border-radius:1px; } </style><h3
 class="zpheading zpheading-style-none zpheading-align-left " data-editor="true"><span style="font-size:25px;font-weight:600;">Making accounting judgments</span><br></h3></div>
<div data-element-id="elm_rZItvkH-Kk5wRNUtw8gTtA" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_rZItvkH-Kk5wRNUtw8gTtA"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><p style="font-size:11pt;"></p><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">After organizing the data, you have to make some judgments regarding the new system, which includes:</span></p><ul><li><span style="color:rgba(0, 0, 0, 0.89);font-size:14.66px;">Determination of lease terms, including termination and purchase options</span></li><li><span style="color:rgba(0, 0, 0, 0.89);font-size:14.66px;">Determination of lease portfolio</span></li><li><span style="color:rgba(0, 0, 0, 0.89);font-size:14.66px;">Accounting for variable and fixed lease payments</span></li><li><span style="color:rgba(0, 0, 0, 0.89);font-size:14.66px;"><p style="font-size:11pt;">Accounting for non-lease components</p></span></li></ul></div>
</div><div data-element-id="elm_CtJRkOff76wjRbDc3dp0DA" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_CtJRkOff76wjRbDc3dp0DA"].zpelem-heading { border-radius:1px; } </style><h3
 class="zpheading zpheading-style-none zpheading-align-left " data-editor="true"><span style="font-size:25px;font-weight:600;">Use the right software</span><br></h3></div>
<div data-element-id="elm_BZS_B8fBQEdbjzEX3ONukw" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_BZS_B8fBQEdbjzEX3ONukw"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><p style="font-size:11pt;"></p><p style="font-size:11pt;"></p><p style="font-size:11pt;"></p><p style="font-size:11pt;"></p><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">You can organize your data using spreadsheets. Or, you can use dedicated software meant to extract and categorize relevant data. You will find it easier to keep all the information up-to-date and store it securely.</span></p><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">&nbsp;</span></p><p style="font-size:11pt;"></p><p style="font-size:11pt;"><span style="color:rgba(0, 0, 0, 0.89);">IFRS 16 is a complex system, which makes finding the right software more difficult. KriyaGo finds solutions to such software problems by integrating the required tools according to your needs.</span></p></div>
</div><div data-element-id="elm_gUlGrnLnvjJEnpQ06Wlt9A" data-element-type="heading" class="zpelement zpelem-heading "><style> [data-element-id="elm_gUlGrnLnvjJEnpQ06Wlt9A"].zpelem-heading { border-radius:1px; } </style><h2
 class="zpheading zpheading-align-left " data-editor="true"><span style="font-size:30px;font-weight:600;"><b>How KriyaGo can help&nbsp;</b></span><br></h2></div>
<div data-element-id="elm_T3KB--L8Q4eL5YX1dWwDLQ" data-element-type="text" class="zpelement zpelem-text "><style> [data-element-id="elm_T3KB--L8Q4eL5YX1dWwDLQ"].zpelem-text { border-radius:1px; } </style><div class="zptext zptext-align-left " data-editor="true"><p style="font-size:11pt;"></p><p style="font-size:11pt;"></p><p style="font-size:11pt;"></p><p style="font-size:11pt;"></p><p style="font-size:11pt;"></p><p style="font-size:11pt;"></p><p style="font-size:11pt;"></p><p style="font-size:11pt;"></p><p><span style="font-size:14.66px;color:rgba(0, 0, 0, 0.89);">KriyaGo understands that leases can be complicated with all the different clauses and terms. With IFRS 16, it can be even more complex. KriyaGo can help with resource optimization, compliance, data verification, and validity checks using modern software.</span></p><p><span style="font-size:14.66px;color:rgba(0, 0, 0, 0.89);">&nbsp;</span></p><p><span style="font-size:14.66px;color:rgba(0, 0, 0, 0.89);"></span></p><p><span style="font-size:14.66px;color:rgba(0, 0, 0, 0.89);">By understanding your requirements, we will build the right tools for you by integrating the latest technologies in the industry.</span></p></div>
</div></div></div></div></div></div> ]]></content:encoded><pubDate>Thu, 10 Jun 2021 18:04:42 -0400</pubDate></item></channel></rss>