KriyaGo - Blog #IFRSKriyaGo - Blog #IFRShttps://www.kriyago.com/blogs/tag/ifrsTue, 21 Apr 2026 04:08:48 -0700http://zoho.com/sites/<![CDATA[How KriyaGo's Integration in SAP Concur Can Help in Expense Management ]]>https://www.kriyago.com/blogs/post/how-kriyago-s-integration-in-sap-concur-can-help-in-expense-managementThe global tourism sector is expected to grow its GDP contribution to $15.5 trillion by 2033 , showcasing 11.6% of the global economy, and will expect ]]>

The global tourism sector is expected to grow its GDP contribution to $15.5 trillion by 2033, showcasing 11.6% of the global economy, and will expect to employ around 430 million people all over the world—that’s quite incredible!


Expanding global business and mobility has increased the global demand for corporate tours and travel. According to Global Bussiness Travel, we will witness an uptick in corporate tours in 2023 compared to 2022. 


However, you must know business trips need to clear travel expense policies, employee reimbursement, and real-time analytics and also require to follow other steps to manage the travel and spending. But you can make the whole corporate trip easy by using KriyaGo and the advanced travel expense management software SAP Concur. 


KriyaGo & SAP Concur in Expense Management 

SAP is a US-based company mainly dealing with travel and expense management solutions. Since 2014, SAP used Concur technology and has started to upgrade its software to control travel booking seamlessly and conveniently. Moreover, it also introduced expense tracking software so travelers can easily manage their spending. 


Additionally, by collaborating with KriyaGo, which offers software support and consultancy, many small and large businesses are now streamlining their travel and expense management more efficiently. So, let’s take a quick look at how KriyaGo can be helpful with SAP Concur for businesses to manage their expenses. 


Help to manage your expenses


KriyaGo and SAP Concur help business enterprises stay updated by integrating Machine Learning and Artificial Intelligence Technology. With this expense management service, it is simple to control all the travel expenses even before going through any kind of booking. Moreover, through the virtual purchase, you can capture real-time data and add more value to it. 


With KriyaGo integration, it is also possible for business firms to automate different types of tasks, like submitting a request for travel, making bookings, and many more. It helps employees to receive an enhanced user experience that ultimately allows them to provide the best presentations to boost the business decision. 

Bringing innovation in travel 


The scenario of the global corporate sector is changing very fast. That’s why conventional booking will not help businesses drive expected ROI anymore. However, KriyaGo and its innovative techniques have started to benefit companies by bringing all the data together to book corporate tours quickly.  Besides that, integrating KriyaGo and SAP Concur can help businesses in many other ways. 


  • Providing travel management practices: KriyaGo integration with SAP Concur comes with effortless and modern strategies for business travelers, which include detailed planning, expense policies, and built-in compliance. 


  • Automatic rejection or approvals: KriyaGo can set up user permission for the software according to your needs. That will help authorized users to access all the data using any device from any location.  Also, with this, businesses can approve or reject travel requests whenever they want. 


  • Providing real-time reports: It is easy to get insights, reports, and key performance indicators of your travel expenses in real-time. Business firms can also monitor and compare expenses with previous years. 

Integrating mobile application 


In recent times, the travel industry has started to speed up with the integration of effective travel apps. It is easy to get all travel-related information from a single platform nowadays. You can plan your trip, strategize your expenses, book, and report to your employees with just a few clicks. 


KriyaGo can integrate SAP Concur products with multiple operating systems. And, businesses can integrate the Concur system with real-time data synchronization using any device. That also includes smartphones to manage all types of work, even on the go. 

How KriyaGo can help with SAP Concur in Expense Management

Businesses can utilize the SAP Concur completely when they integrate it with KriyaGo. Together with SAP Concur, KriyaGo will help you to get the full advantage of using ERP software. Moreover, KriyaGo will help businesses use all SAP Concur products, which includes expense tracking, simplifying the workflow, and generating reports of your business expenses. 


With 25 years of experience in the market, KriyaGo expense management is helpful for real estate property owners, investors, or managers. There is no doubt that KriyaGo is taking the real estate market to the next level by developing this integration. Thus, it can easily eliminate the technological gap by connecting Concur Expense to real estate ERPs. 

Solutions businesses can get with this integration


KriyaGo specifically has come into the market to deal with complex real property accounting needs. That includes:


  • Property and expense accounts will determine how statements are distributed for corporate credit cards.

  • Multiple properties or legal entities can distribute the expenses, even if the corporate office pays them

  • Starting expense reimbursement through payroll and creating an account entry in the ERP

  • Charging expenses back to tenants

  • Initiating inter-company transactions


KriyaGo can help businesses by eliminating data mismatches and other quality issues without replacing the system and using multiple integration endpoints. Also, you will be able to maintain a single source of truth by enabling data to flow smoothly across the enterprise system in real-time. 


Moreover, with the automated KriyaGo system, businesses can easily get rid of manual work, reduce tedious tasks, and boost the entire data quality. In a word, with KriyaGo integration, you can strategize better and make better decisions for your company.


Expense Management with KriyaGo

KriyaGo is the  solution you need for managing all expenses and travel management processes. When businesses are focusing on boosting revenues, KriyaGo, with SAP Concur, will be helpful in managing all the reports and real-time analysis. Additionally, the collaboration with SAP Concur, KriyaGo, can help business firms enhance the control and visibility of travel expenses and save extra time for manual work. 


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]]>Mon, 21 Aug 2023 21:54:18 -0400<![CDATA[Top benefits of KriyaGo Expense Management ]]>https://www.kriyago.com/blogs/post/top-benefits-of-kriyago-expense-management Management of expenses is a vital task for any kind of small or large business, which comes with monitoring, recording, and organizing th ]]>

Management of expenses is a vital task for any kind of small or large business, which comes with monitoring, recording, and organizing the expenses to boost profitability. Employees need to submit their expense reports for out-of-pocket expenses that are later processed and rejected or accepted. Managers have to keep track of all these reports and expenses and present the analyses. 


However, with the introduction of KriyaGo, which works with advanced expense management software, the whole tracking and recording process became automated. It made the employee expense claim request pretty easy to submit and approve. You can easily identify how using this expense management service has changed the whole scenario of profit and efficiency numbers compared to traditional expense management. 


Furthermore, by taking help from KriyaGo, you can easily boost your company’s productivity by making the overall expense-related functions simpler and more effective. 


Benefits of KriyaGo Expense Management 

Here, in this section, let’s check out what the companies can expect when they collaborate with KriyaGo to get the best expense management help for their business. 

Real-time visibility into your expenses


One of the incredible benefits of using KriyaGo expense management is to monitor the real-time visibility of your financial position. With the expense management software dashboard, you can easily check all the vital data in one go. Moreover, the easy-to-understand display and graphs are super-beneficial to comprehend the whole thing if you are naive in this field. 


Besides that, it also helps with real-time visibility of fund movement. It means with the approval of an expense claim; the system will update everything from payment initiation to the employees finally receiving their payment. 

Reduce the expense-related errors 


Making expense management completely error-free is crucial for any small or large business. KriyaGo expense management is the best solution when you want to automate and integrate software with your accounting system for complete accuracy. 


It is very natural to make mistakes like double entering the numbers or missing them when manually entering the expense data into the accounting sheet. However, the expense management software will eliminate all these errors and help you create an accurate and to-the-point database and accounting entry. 

Improved fraud protection 


It is hard to manually manage all the expense claims, receipts, and employee payments. This may lead to errors or inaccuracies in audits and accounting. However, when you get help from an expense management company like KriyaGo, it is easy to identify any errors. 


Moreover, there will be no possibility to make any kind of changes in expense data numbers by employees. As it is understandable to overlook any well-camouflaged fake entries by the contractors or employees. Only some authorized people from the company should have access to change the data when needed. A global estimate of $4.7 trillion in revenue is lost due to fraud each year, according to the Association of Certified Fraud Examiners. (ACFE). 

Establish policy enforcement 


Staying updated all the time and enforcing every new expense policy is a pretty challenging task for companies. Also, it is nearly impossible to check on every employee whether the expense policy is being followed or not. 


However, by using KriyaGo and expense management software, you can make it possible by having a customized expense policy according to your business needs. So, whenever there is a possibility of any changes in the policies or new additions, that will be updated automatically into the system. 

Employee reimbursement process


When you incorporate an expense management system, all you have to do is instruct your employees to submit their expense receipts and raise a claim. Afterward, the manager or approver scans those receipts and checks the necessary details. Next, the manager will approve the request, and the employee will receive the money. That’s it—a straightforward process for expense creation. 


This reimbursement process is seamless for both the manager and employees. There is no need to use any paper expense claims, go around to the manager, or run for wrong numbers or missing receipts. Everything will be so easy by collaborating with KriyaGo expense management. 

Boost the operational efficiency 

In a McKinsey Global Survey, it was found that companies that made quick decisions were twice as likely to be successful, suggesting that racking up data or lingering over a course of action is not always the best decision. 


Integrating KriyaGo expense management with the business enterprise resource planning software can be beneficial in preparing expense reports, tracking the reports, and giving approvals. Expense management automation can improve the cash flow and productivity of a company when both the manager and workers benefit from it. 


There will be no need to continue with the boring and repetitive work that software can handle easily and accurately. It makes time for employees to invest in other important tasks like going through sales calls, preparing strategic plans, and financial forecasting to add some extra value to the business. This management service is the reason for the increased popularity of start-up businesses in recent times. 

Enhance Compliance 

With Expense Management, you can make your company stay on the safe side with the state, local, or federal tax agencies. Travel and office expenses can be categorized and tagged appropriately in a business. 


Some expenses are now tax-deductible, such as most entertainment and dues for country, golf, and athletic clubs. The inclusion of these expenses may bring the IRS' attention. In addition to providing easy access to electronic receipts and reports, the KriyaGo expense management is invaluable for the audit. 

Bottom Line 


Businesses must integrate expense management services to improve efficiency, save time, build policy enforcement, and eliminate errors. This system is also helpful for detecting fraud, visibility into expenses, and boosting productivity. In short, you can take your business to the next level using KriyaGo, which mainly works with top-rated software vendors. 

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]]>Mon, 21 Aug 2023 14:49:07 -0400<![CDATA[Come, Join the Jones Network: Features, Compliance and Real Estate]]>https://www.kriyago.com/blogs/post/come-join-the-jones-network-features-compliance-and-real-estateJones Network , one of the most exclusive insurance lifecycle automation software options. for real estate businesses, serves real estate owners, prope ]]>

Jones Network, one of the most exclusive insurance lifecycle automation software options. for real estate businesses, serves real estate owners, property managers, developers, and contractors.


Previously their operations were mostly about insurance operations, from extraction to collections. They are an insurance compliance solution for all things real estate.


But this February 8, Jones is taking a step forward to expand their horizons. Getting tenants and vendors to stay compliant with the insurance will get much easier with this. Starting on 8th February, every Jones account holder and software will be able to access the exclusive Jones Network. This network is a pool of data that is constantly and automatically updated by the company. 


With this network, all real estate professionals will be able to look up vendors, tenants, and subcontractors' insurance coverage. This will help you view their profiles instantly and understand their insurance details. This is a data network that will have thousands of updated profiles and will be stored on Jones.


Another exciting fact is that these profiles will be collected, reviewed, and then stored. Hence there is no chance of sketchy data and facts. 


So, is this exciting new feature exclusive to the Jones account? What is the latest in the market about this development? Let us find out more about this in the article below. 

Exclusive - The Jones Network launch webinar - With CEO Omri Stern

To launch their exclusive Jones Network, CEO Omri Stern will hold a webinar. But remember, this webinar is exclusive and you need to RSVP if you wish to join. After their launch on 8th February, they will hold the webinar on 9th February at 2 PM EST. It will be on for 1hr only, so, do not forget to join in. 


This will also allow their users enough time to use this new feature and come up with queries if any.


The CEO himself will conduct this webinar and help the Jones account holders understand this new development. 


The key points that they will discuss in this webinar are,


  • A Jones account holder will be able to use an on file Certificate of Insurance (COI) to request audits on any of their properties, projects, or buildings. This can be done at any time and it only needs real estate professionals to make three clicks to get started with the audit. 

  • The 'Predicted Compliance Statuses' is another feature that CEO Omni Stern will discuss. This feature helps real estate companies understand the risk factors of each vendor or company. This will allow businesses to make more calculated moves in the future and keep their business safe. 

What can real estate professionals gain from this event?

The Jones Network instant view of insurance coverage profiles is exclusive to the Jones account. If you are a real estate business or property manager, or owner, this exclusive feature is a great option for you. That is why it is important you join this event to find out how this feature will help. There will also be a one-day window before the event to use this feature before joining the event. You can use the feature within this time to get the basics right. 


This event will also help you figure out how you can get audits done in a few clicks on any building/property under your portfolio. Then you will know the risks of the insurance and how much expenditure it may incur. This can be a very streamlined process for real estate professionals to help with their budgeting and forecasting too. 


Real estate professionals can simply enter the name of the vendor, choose the requirement you have and add them. Then Jones will come up with a report of their predicted compliance status. This feature will also help professionals get a better idea about risk management and risk aversion. This can be a great way to start refraining from engaging with such businesses which have high predicted non-compliance status.


The real estate market is already volatile in the real estate market, in both U.S. and Canada. Why take more risks when you can access all this valuable data at the Jones Network and avert these risks? 

How is the Jones Network changing the perspective of real estate insurance? 

Most real estate companies have to face the logistical nightmare of dealing with analog insurance compliance methods. The main burden falls on property managers to collect the insurance data, organize them, and then analyze, and fact-check them. This can take days, hours, or even months if your portfolio is diverse and spread out. 


This is where the Jones Network has come in to change the way real estate views real estate insurance compliance. This is helping real estate professionals build trust and betters the coordination between all stakeholders. 


Like the CEO Omni Stern previously mentioned in an exclusive podcast they developed this system to help companies provide instant verification to vendors, tenants, or subcontractors. They have also mentioned that this software easily integrates with other regular property management software solutions. So, there will be no issue of system overlap or redundancy. This will be like an exclusive addition to your already present ERP system. 

In other news - The Jones Network 

What are the key features that the Jones Network will offer? At this event, you will get a complete walkthrough of all the new and exclusive features of this development. 

  1. The vendor profile

The Jones users will be able to view and access vendor profiles at any given time. This will tell you the insurance coverage of each vendor, and their risk predictions. 

  1. Vendor discovery 

In case you have previously worked with a vendor, you do not need to re-enter their data. You can discover them on the Jones Network from the stored vendor data systems. No more going through bulky insurance paperwork to find the right documents. 

Parting Thoughts 

Market reports by Alleywatch say that the vendor approval process in the real estate market has gone down from 12 days to 2.5 days on average after the Jones Network usage. This is a major step towards positive development in this competitive market. So, in case you have any more doubts about this new feature, we suggest you tune in to the webinar. 


Need more such suggestions about the digital transformation and exclusive events of the real estate world? Get in touch with the KriyaGo team to get constant updates about all things real estate. Our experienced team can help you reimagine the way you view business. Talk soon for more!


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]]>Sun, 12 Feb 2023 22:45:28 -0500<![CDATA[How improving CAM reconciliation can help improve your leasing strategies ]]>https://www.kriyago.com/blogs/post/how-improving-cam-reconciliation-can-help-improve-your-leasing-strategiesThe Common Area Maintenance or CAM reconciliation process can be a very hectic task, especially when it comes to commercial real estate businesses. Wi ]]>
How improving CAM reconciliation can help improve your leasing strategies

The Common Area Maintenance or CAM reconciliation process can be a very hectic task, especially when it comes to commercial real estate businesses. With multiple properties to handle, it can be overwhelming. But CAM reconciliation is crucial nonetheless and property managers can not afford to avoid it. CAM is a part of every lease shared with tenants, and a lot of monetary transaction banks on it for any property owner or manager. Due to missing data and discrepancies in agreements, landlords stand to lose a lot of money. Though this process is tedious, you still need to ace it to get maximum return on your ROI.  

 

You need to better your strategies in handling CAM work to improve your leasing strategies. 

 

Read this blog to understand the details of how CAM reconciliation negatively impacts real estate and how improving it can benefit you.  

The adverse impact of flawed CAM Reconciliation

Some CAM areas might be easier to understand, like property taxes and insurance calculations. But the essential maintenance part can be very tricky given that a standard charge is divided among multiple stakeholders of different units in the same building. Any data error can simply lead to overcharging or undercharging tenants and messing up your lease agreement. Here are a few of the grave impacts of imperfect CAM reconciliation on your real estate business, 


  • The conflict between landlord and tenant and extended negative impact on business growth. 

  • Inaccurate cost classifications 

  • Due to miscalculations, landlords paid out of their own pockets for CAM work when lease agreements said otherwise.  

  • Wrongful interpretation of lease terms and conditions leading to uninhabitable conditions. 

  • Also impacts tax payments in the end when lack of data leads to tenants paying less than what is required of them. 

  • It can be a major legal battle when you have improper expense classification in your buildings and units. You need to thoroughly recheck all data before assigning expenses to each building to not lose out on tenants.  

How proper CAM Reconciliation can help improve the situation

CAM reconciliation has an obvious impact on the finances of your business. But the CAM reconciliation process also can help landlords maintain their position in the real estate market and also improve their property leasing strategies. Let’s talk more about that to help you understand why you need to rethink your CAM work. 

• Improved tenant relations 

In most lease agreements, tenants feel that their landlord is overcharging them for things that are not their responsibility. The legal terms and everything can be open to interpretation, and all stakeholders want to steer it their way and gain some. Lack of expense invoices can lead to tenants paying more, or no proper statements can have landlords earning less. In both cases, the long-standing relationships are jeopardized. 

 

Improved landlord and tenant relations can help in lease renewals, low tenant turnovers and improved reputation in the market. But when you keep clarity in your CAM reconciliation process and have proof for all expenses, then your tenants gain trust in your work ethic. Also, when there is transparency, all your payments are released on time, and your leasing strategies see a positive boost.  

• Getting better sales in a competitive market 

When you improve your tenant relations, it also makes your holding on the market much stronger. In this competitive market, if the reputation of your real estate business takes a hit, then your sales will go down. The commercial real estate market has already suffered a lot due to the pandemic. 

 

As a leasing strategy, landlords and property managers can choose to provide some incentives in their CAM charges and retain long-term tenants. A controlled and streamlined CAM reconciliation process can help you better this process. A proper technology implementation plan can help solve this. Yardi CAM reconciliation software is one such provider that can give you quick CAM solutions. This software will also draw up valuable insights from the industry and stay ahead in the competition to drive sales. Strategically automating your CAM reconciliation work can get you more control over your lease agreements. 

• Revamping and negotiating the future lease agreements

When you as a project manager have a stable image of doing great CAM reconciliation work, you can easily negotiate new terms during your lease renewals and new agreements. Staying clear about costs and providing enough data to help tenants understand every point of your CAM statement is one of the best project management best practices that you can establish. 

 

Taking inspiration from previous reconciliation work, you can even come up with agreement terms and conditions that are beneficial for all stakeholders. This will help establish a stable foundation for your business. You can even get real estate lease audits done by neutral third-party auditors to straighten facts in your lease.  

Why you should outsource your CAM Reconciliation work for a better lease strategy

Are you stressed out about the CAM reconciliation process? Don’t be when you can simply outsource the work to experts and shed the load from your shoulders. A team of experts who have done CAM reconciliation work for years can help you save money, better your tenant relations and find useful data to increase sales. An outsourced service provider will also have access to the latest technology, which you can leverage to automate the CAM work.  

 

At KriyaGo, we have the needed professional resources, a team who will customize them based on your business needs and stay within your budget. Fromauditing leases to lease abstraction services and finally getting CAM reconciliation, our team can do it all.  

Final Take

Though CAM charges vary from property to property, there are some common charges that are the same for most properties. Like pest control, insurance, utilities, security, etc. You need to keep constant track of these to manage your portfolio's daily operations properly. From financial stability and seamless cash flow to improved leasing strategies, proper CAM reconciliation work can have a lot of great impacts. 

 

This volatile real estate market does not depend on the chance to establish a proper CAM process. Take charge and outsource your work to industry experts. Call KriyaGo today and understand how we work. Talk soon! 

]]>Fri, 21 Oct 2022 09:00:00 -0400<![CDATA[Common mistakes CRE property managers commit while making CAM statements]]>https://www.kriyago.com/blogs/post/common-mistakes-cre-property-managers-commit-while-making-cam-statementsCommon Area Maintenance   is a highly complex task in itself. The CAM reconciliation process can be a further hassle due to the multiple stakeholde ]]>
Common mistakes CRE property managers commit while making CAM statements

Common Area Maintenance is a highly complex task in itself. The CAM reconciliation process can be a further hassle due to the multiple stakeholder involvement. It is time-consuming and tedious, but extremely important to have proper reconciliation done. Commercial Real Estate CAM reconciliation process is even more complex. Why? Commercial lease agreements are filled with huge volumes of paperwork and complex legal matter. Though these might seem trivial, non-compliance to these might lead to long-drawn legal battles with tenants and authorities alike.  

 

What major mistakes do commercial real estate landlords and property managers make while drawing CAM statements? Read this article to understand them in detail and avoid further roadblocks.  

What are the major pitfalls in CAM statements? 

All retail business outlets to multi-family homes come under the Commercial Real Estate CAM system. Compiling a comprehensible CAM statement for these is a herculean task. Most CRE property managers and landlords spend sleep-less nights over perfecting this. With deadlines looming over your head, there might be many pitfalls that you forget to consider.  

 

Here are the most commonly overlooked mistakes that you as a property manager should avoid. 

• Inaccurate expense allocation

If you forget to keep track of proper bills, invoices for maintenance, gross-ups, capital investment, your CAM reconciliation will suffer. You must also account for expense caps and not overcharge tenants than their lease tenure. When you manage multiple properties and tenants simultaneously, slip-ups can happen. But these can be grave mistakes in permanently damaging your tenant relations.  

 

Property managers' poor expense allocation can lead to tenants paying less than what is due and negatively impacts ROI.  

• Inconsistent process of making CAM statements

Most real estate companies use DYI processes to conduct their CAM reconciliation process. But reconciliation in real estate is a very complicated process. When you use inexperienced staff to get the work done, you open yourself up for significant problems. The hurdles can be indefinite, from inconsistency in the work process to manual data entry errors. Lack of proper record-keeping operational expense tracking is a terrible business process. But most real estate businesses do not record expenses right when they approve payments; most do it from memory at a later date. There is very little chance that you will remember all data without inconsistencies resulting in overcharging or undercharging tenants and losing money. 

 

Do you find this process too tedious? You can always opt for a CAM reconciliation outsourcing partner. KriyaGo offers CAM reconciliation; our team has top-notch resources to streamline your real estate business process.  

• No internal audits before presenting CAM statement to tenants

As a property manager, if you forget to conduct internal audits of lease agreements and CAM statements before presenting them to your tenants, that is a problem. Why? These are all formal documents with many jargons; you must internally audit your statements to get your facts and numbers in order and consistent across all documents. If the statement you produce in front of your tenants at the year-end has inconsistencies, your tenants will lose faith in you. Though this might just be a gross mistake on your partner, it can have a long-term ripple effect leading to bad business. 

• Misinterpreting legal lease terms

Every Commercial Real Estate property has different lease terms, with special clauses for all. From restaurants, warehouses to malls and hospitals, all have their own lease rules and regulations. If you do not know or misinterpret these complex terms, it can negatively impact business. Most Commercial Real Estate businesses lack the expert resources to handle this level of work. This can be highly detrimental for your business and accounts work.  

• Excessive management fees

Do you end up changing your management fees for every tenant? This is a major damaging factor to the business. Standard property management fees lie between 4 - 7% for an average property. It can scale depending on the number of units handled. If you end up charging more than the market average, your tenants will feel burdened by the additional costs. You can not indulge in rebates or extra charges based on personal relations.  

• No ledger review

If you handle multiple properties and units simultaneously, it is easy to mix up data. Did you end up sending bills and CAM statements of one property to the other? Charged incorrect invoices to other buildings than the original? This is damaging to your image and overall tenant relations, negatively impacting business.  

• No annual CAM budget

As a property manager, it is your responsibility to hand out an appropriately detailed CAM budget at the beginning of each lease term. Your tenants need to be well-prepared for what is coming their way. If you fail to do so, you might see a lot of tenant turnover. You must give your tenants an understanding of the workings, expenditure plans and building trends before charging them to ensure better tenant relationships.  

How CAM Reconciliation can be easier with KriyaGo 

Understanding which expenses come under the tenant's purview and which come under the landlords is a strenuous task. Only knowledgeable industry experts know the right way around this. This is why outsourcing is the best way to let others do the heavy lifting for you. 

 

The KriyaGo CAM reconciliation services will help you save money, resolve irregularities and boost profitability. We will also provide you with expert professional resources and CAM reconciliation software to work on your CAM statement without you having to pay for them full-time. There is no chance of improper billing or statements when you partner with us. It will all positively show in your real estate business ROI in the long run.  

Concluding

A flawless CAM reconciliation statement easily translates into better trust between tenants and property managers. It is a common occurrence where tenants believe that landlords are overcharging them. Tenants will see reason when you ensure you present a concrete, precise, and understandable statement. Do not let CAM clauses in your lease agreement remain open to interpretation for your tenants. A well-versed CAM reconciliation outsourcing partner will get it done for you. 

 

Contact the KriyaGo CAM reconciliation team to know how we work. Talk to us soon to know more! 

]]>Mon, 12 Sep 2022 09:30:00 -0400<![CDATA[How to shorten the cash conversion cycle and positively impact business]]>https://www.kriyago.com/blogs/post/how-to-shorten-the-cash-conversion-cycle-and-positively-impact-businessCash is king, and all business executives swear by it. Poor cash flow makes the daily workings of a company quite a challenge and a daunting task for ]]>
How to shorten the cash conversion cycle and positively impact business

Cash is king, and all business executives swear by it. Poor cash flow makes the daily workings of a company quite a challenge and a daunting task for business managers and executives. It affects your daily tasks and also your long-term business growth plans. Shortening the cash conversion cycle (CCC) is the only way to stop your company's cash crunch and avoid any roadblocks.  

 

The cash conversion cycle shows how efficient your business is in converting business transactions into real money and is a primary key performance indicator (KPI) of a brand. How do you shorten this cycle? Read this blog to learn about some of the best-used techniques to shorten the cash conversion cycle that most business executives follow.

Why do you need to shorten your cash conversion cycle?

The cash conversion cycle is the time companies take to make a sale and reflect the same sale money on their bank accounts. This process is the conversion cycle, and it takes much longer when payments are stuck on the pipelines or the clients’ or vendors' ends. But cash is like the blood of the business that keeps it going. Shortening this conversion cycle will help you gain a healthy financial system and manage your payroll, budgeting and forecasting, and all other back office accounting work.  

Top 8 tips to shorten your cash conversion cycle

Here are the top 8 tips from the industry experts to help with your CCC.

1. Upgrade your cash flow management

Keeping track of all your payments, incoming and outgoing, is a major part of the cash flow management process. Incoming cash is made from payments received from clients, vendors, asset sales, loans, and interest on idle cash in the bank. Outgoing cash consists of payrolls, invoice payments, daily operation expenses, and bill and interest payments to various parties. 

 

The strategy and leadership must take a closer look at all of these to get a stronger hold on the cash flow management to shorten the cash conversion cycles and make cash from sales faster than before. Releasing payments from your side as soon you receive services and sending out invoices immediately after making a sale is essential to speed up the cycle. 

2. Never extend credits

No matter how well you know a client or your personal relations with them, you should never extend your credit timelines for anyone. Keep it professional and demand payments exactly when it was agreed upon during the sale. Sending reminders to your clients at regular intervals to remind them of upcoming payments. If you extend credit for one client, it is sure to open up the floodgates, and many more of your clients and vendors will ask for such extensions, and your cash conversion will suffer in the process.  

3. Restructure your Accounts Payable time periods

You can renegotiate with your vendors and service providers about restructuring your payment schedules to stabilize the the cash you have in hand. Though it is always good business to disburse payments as soon as you receive a service and helps builds good relations with partners, you can try negotiating if you have a cash crunch.  

4. Efficiently manage your inventory

Turning over your sales inventory is a very effective way to shorten your cash conversion cycle. The faster you drive up sales and manage your inventory better, the more money comes into your banks and converts into an actual money-making business. You can even integrate CRM software into your system to keep track of your inventory in real-time and stay on top of your game. Do not keep inventory management for the last moment; pre-plan your steps with a good look at your business process overview.  

5. Take help from your bank's treasury management

Your bank will help you manage your holdings better to get better cash liquidity, speed up your asset sale process, and help in amping up business. There are treasury management options that can help you in your cash collection process from clients and vendors alike. This will further help you assess your financial risks and take measures to mitigate them before they become a major hurdle for your business.  

6. Improve your Accounts Receivable process

You can start asking for up-front payments and immediate release of funds when you are running low on cash. You can also use an automated AR system to fasten the process. This will also help with smoothening your supply chain system and getting cash into your bank accounts much faster than before. Do not negotiate with your clients on payment terms, and you can even start fines for making late payments or bounced checks. This will push them to pay on time and help in your CCC process.  

7. Offer easy-to-use payment options

Business Insider reports say that companies that use digital payments cut down costs by 81% and get more than 73% faster payment processing cycle. This is mostly because your clients do not have to travel to you to collect invoices and process payments physically. This work gets done remotely when you keep an electronic and easy-to-use payment method handy. 

 

You can also automate your AP process with the latest software integration and best technology selection. This will automate the whole invoice processing and payment collection process. That is why more than44% of businesses are already looking to automate their whole AP system.  

8. Re-evaluate your order to payment cycle

Many businesses have multiple layers of the technical processes for converting sales in money. Like invoice generating, clearing them with authorities, and verifying them with multiple departments, these might be redundant and slow down your overall cash cycle. You need to reevaluate which processes can be done without and omit those steps to get the cash rolling faster.  

Parting thoughts

At KriyaGo, our team of accounting experts provides the best strategies to speed up the cash conversion cycle process. We work with an experienced set of people who have helped many small businesses in improving their financial health and increasing the cash flow in their banks. Our outsourced accounting services will not let you sweat over tedious back office accounting work and will help your business thrive amidst all odds. 

 

Talk to us to find out how we work and how our accounting team can help you.  

]]>Fri, 02 Sep 2022 09:00:00 -0400<![CDATA[SaaS Integration is Tricky, but the Right Partner Makes it Easy]]>https://www.kriyago.com/blogs/post/saas-integration-is-tricky-but-the-right-partner-makes-it-easySoftware as a Service (Saas) has many advantages when it comes to automating and running a business. But SaaS integration can be a tricky affair and c ]]>
SaaS Integration is Tricky, but the Right Partner Makes it Easy

Software as a Service (Saas) has many advantages when it comes to automating and running a business. But SaaS integration can be a tricky affair and comes with its own set of challenges. When you do not team up with the right third-party integration partner, you can be in for many problems. As SaaS gains more maturity over the years, its integration has also become a technical task that only industry experts can handle.   

   

If the correct SaaS integration happens for your company, it can help optimize your resources and positively impact your ROI. But how do you know the right way? Read this article to know the challenges of SaaS integration and how the correct third-party integration partner can help mitigate these problems.    

Challenges of SaaS Integration, Why it's Tricky

When companies use one or more software to automate their business process, they must work together cohesively. If your system does not support multiple APIs, you are in for a whole other problem. But more than 38% of businesses say they work entirely on SaaS. How did they get there? Here are a few of the challenges of SaaS integration that companies face. Know them in detail before you start your journey.  

• In-house custom-built integration

Many companies try and develop their own SaaS apps and systems. That is an extraordinarily costly and time-consuming process. Employing, training and paying expert software developers is a big blow to your company funds. In-house SaaS development also needs custom coding, which hardly any new software developer can keep up with. You have to pay for experienced people and constantly keep them in your system. Why? Any software can face regular glitches, updates and bugs and that need for your developers to be constantly present to mitigate these.  

• Time constrain issues

It becomes a substantially time-consuming affair when you do not use a proper third-party partner to integrate SaaS. Most companies opting for SaaS integration are in a hurry, but moving your manual office work and automating it can be a long drawn thing. Even if you have an existing software system, an inexperienced integration partner will need a lot of time to integrate new features and customizations. 

• Insufficient integration

It is essential that whoever your SaaS integration partner is, they make sure that multiple software can work together in your system. Why? You might not need two different software right at the beginning, but your software needs will increase when you scale your business. If the integration process is insufficient initially, you will have to revamp your whole system when you want to integrate new features in the future.  

• Little to no customization options

While you integrate SaaS into your system, you have to ensure that your partner offers customizations and adds features. Many players in the market offer very little to no customizations on their software. This can be a dangerous affair for your business. No two businesses are managed the same way; that is why you need customized features to stay ahead in the competition. When you onboard a third-party SaaS integration partner, you need to do your due diligence about the company. Ask the right questions and remember all these touch points when taking the first step. 

How the Right SaaS Integration Partner Can Make it Easy

No more overhauling your whole system to integrate additional SaaS options and features. An excellent third-party integration provider will provide you with a seamless integration process where you can use features from various SaaS providers all under one dashboard.  

• Quick deployment

An experienced SaaS implementation consultant will make the deployment real quick. Your work will be smooth, and no time will be wasted on in-house testing. All development and problem mitigation will be done on the software partners’ end, and you will never face its challenges. 

 

The KriyaGo team provides such quick deployment of new software. Our expert team will integrate the new features and solutions into your system within days without disturbing your current work. We also provide employee training and support services to ease the change for you. We provide a holistic solution to all your technology implementation plans. We will guide you in the best selection of technology in project management to make it cost-effective and smoothen your tedious office work.  

• Cost-effective

Any project management best practices will require your SaaS integration plans to be cost-effective. Otherwise, the whole purchase becomes redundant if it ends up costing as much as your manual labor. But scaling your business needs multiple ERP systems under one umbrella. 

 

The KriyaGo platform helps you leverage, use and integrate only the features your system needs. You subscribe and pay for just the features you use, not the whole software solution. The lack of major initial investment in integrating these solutions is why most SMEs prefer third-party integration services to positively impact their ROI.  

• Innumerable customization options

As you partner up with a SaaS integration company, they will allow you to implement the best software features in the market to reach your business goals. From CRM software to marketing solutions, customized features to cater to your specific business needs can be found with the right partner. You no longer need to depend on generic solutions to all your business needs.  

Parting Thoughts

SaaS integration is like coins that have two sides. You need to rethink your strategy and leadership in the company to understand both sides of this service before you leap. Using technology to handle your business is not a one-day journey and not an easy one. That is why you need an expert integration partner to help you leverage the best software features to help you reach your business goals. 

 

KriyaGo’s SaaS integration plans include three major brands, Procore, Yardi and SAP Concur. You can do all of it under one dashboard, from back office work to budgeting forecasting and even asset management and construction management. Partnering with our team, you will use the top features of all these SaaS providers without individual investments. Wonder how this can work? We are here to guide you every step of the way. Talk to us over a one-hour free consultation call, and we will help you understand the process in further detail. 

]]>Thu, 25 Aug 2022 09:00:00 -0400<![CDATA[Top Reasons to Outsource Your Lease Abstraction  ]]>https://www.kriyago.com/blogs/post/top-reasons-to-outsource-your-lease-abstractionA 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 ]]>

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.  

 

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. 

Reasons to Outsource Your Lease Abstraction

JLL’s Future of Work Study (2018) 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. 

Maximum Resource Utilization

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 more than 48% of companies have outsourced its work to outside firms.  

 

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. 

Effective and Authentic Portfolio Management 

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. 


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.  

Extremely Cost-Effective

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. 

Keeping Up With All Compliances

An outsourced lease abstraction service has to provide you with all monthly reports and disclosures that you need for the Financial Accounting Standards Board (FASB). 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.  

Quicker Work Turnaround

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. 

 

This will also set your work tone right with all your tenants increasing your credibility and that will eventually reflect in business growth. 

High Level of Data Privacy

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.  

 

Market research says that on an average businesses lose more than 20%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.  

 

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. 

Summing Up

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. 

 

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. 

]]>Fri, 12 Aug 2022 16:07:23 -0400<![CDATA[Top Property Accounting Challenges And How To Solve Them]]>https://www.kriyago.com/blogs/post/top-property-accounting-challenges-and-how-to-solve-themWhile marketing is essential to run a real estate business, accounting is another vital area that cannot be neglected. Accounting in real estate is no ]]>

While marketing is essential to run a real estate business, accounting is another vital area that cannot be neglected. Accounting in real estate is not like other sectors; it's a complex and tedious process that can be easy with the right software, but not all businesses invest in having a functional accounting software.  


It's important to keep all the financial data and integrate software to get the best results. Here are five challenges identified in real estate businesses, and if you're facing the same, there are ways to overcome them.  

Top 6 Property Accounting Challenges   

Hiccups in software systems are inevitable, but it can be frustrating if there is no proper maintenance. With legacy software and a lack of adequate management, keeping the company's financial data can get all the more difficult.  

 

Or it may be due to other underlying problems too. Whatever may be the issue, here are some of the most common property accounting challenges and the ways to solve them: 

1. Frequent errors in the Financial Data

The real estate business is not just about building a good portfolio; there's much more to it than just that. You need to keep your financial data secure and accurate at all times. And to keep the data clean and up-to-date, data management should be on-point.  

 

Documenting financial information is extremely important at every stage of the business, but most firms face this challenge due to the lack of the right resources. On the one hand, poor management can lead to erroneous data, and on the other hand, it can hinder the growth and the future scope of the business.  

 

Going for good property management software to ensure data is error-free and managed well can reduce the burden and frustration of dealing with things.  

2. Complex transactions

Accounting in a business is itself one of the most crucial yet the most difficult parts of a business. Managing huge transactions and documenting them is important to grow your firm. And when your property portfolio builds, managing transactions is essential.  

 

Make your accounting processes easy and less complex by going with a better system or by outsourcing it. It lowers the cost and increases efficiency. You get to manage your business smoothly without having to deal with common errors.  

3. Poor expense classification

Categorizing expenses can be a huge task without experienced resources and the right software. In real estate, classifying expenses is one of the most crucial aspects of running the business. It can only happen when there is transparency in the processes and better management.  

 

But most firms find it extremely challenging to do this, especially when the accounting standards change time and again; it gets a lot more difficult to categorize them as needed. Having a dedicated set of experienced teams can help you manage better while cutting down costs.  

4. No back-office support 

You may already have an accounting department in your firm or have a third party do it for you, but it can cost you more in the long run if you don't have the right support. One of the most common property accounting challenges can be overcome with the right software and support team to manage all your back office accounting.  

 

And you can do that by outsourcing which will help you save a lot too, as you need not spend more on resources, equipment, training, and others to manage your back office accounting. It also helps boost revenue by working your portfolios better.  

 

And what's better than optimizing your business process at minimal costs, right? Training your resources can cost a lot more and take more time which may not be ideal if you have a budget constraint. So, it's always better to look for an alternative than hiring resources and dealing with the same challenges again.  

5. Lack of proper integration

Integrating software is a great way to enhance the performance of the operations, but what if integrating only leads to incorrect data and zero transparency? It's one of the main challenges faced by real estate firms that hampers the day-to-day processes.  

 

Software integration should be seamless and help streamline the business process so go for the right solution providers who can make your job easy and ensure all your financial records are safe and error-free. KriyaGo can help you with software integration to manage your financial data easily. Talk to us to know more about it.  

6. Losing data due to poor backup management

We cannot stress the importance of having a backup for your documents here. No, not the paper-based physical backups; it's the cloud-based digital backups to keep all your data in one place that’s needed for your business.  

 

Sure, you can save a physical backup but ensure it's done along with the cloud backup for added safety. There will be large transactions and other important data, so as and when you start building your portfolio, it's vital to have a backup to fall back on in case you lose any valuable data. It’s also a good practice to have a back up of backups to ensure you never lose any data even if your back up fails though the chances are very rare.  

Let KriyaGo Solve All Your Accounting Problems!

Finding it hard to manage your accounting activities? KriyaGo can help you handle it easily. We have a dedicated team of experts who can run a quick audit on your company's accounting software and help you understand the gaps.  

 

We specialize in back-office accounting, lease abstraction, lease audits, and more. We also provide integration services where you get all features in a single platform to help you manage your financial data in one single place. We help you integrate with Yardi, Procore, and others to help you manage your business efficiently.  

 

If you think your systems need a revamp or you need more features to be added to your existing software, get in touch with us today! 

Get Started Now
]]>Thu, 03 Feb 2022 13:00:00 -0500<![CDATA[7 Common ERP mistakes and how to avoid them ]]>https://www.kriyago.com/blogs/post/7-common-erp-mistakes-and-how-to-avoid-themDid you know that  50%  of ERP implementations fail the first time around? Even after endless meetings, communicating with multiple departments, and ]]>
7 Common ERP mistakes and how to avoid them

Did you know that 50% of ERP implementations fail the first time around? Even after endless meetings, communicating with multiple departments, and complying with deadlines, 29% of enterprise real estate implementations become unsuccessful in the end. That’s mainly because companies repeat certain mistakes during the process.   

  

And if you're looking for an ERP solution for your business, you may have to consider multiple things and avoid the mistakes usually made. We’ve covered a list of seven common ERP mistakes and ways to avoid them to help you ease your process here.   

Seven common ERP mistakes

Around 50% of the companies are upgrading to ERP systems soon. And if you're planning to upgrade and implement an enterprise resource planning system too, here are the top common mistakes to avoid during the process for a successful implementation. Avoiding these mistakes can optimize your process and benefit your business. 

1. Not keeping everyone in the organization up-to-date

Having an ERP system go-live is not easy, and it does not always go as expected. Enterprise Resource Planning implementations take 30% more time than estimated to go live. And taking extra time means reaching perfection to avoid failures. But sometimes, companies do not keep everyone updated about the process or the progress, which eventually leads to confusion or conflicts.  

 

Do not make the mistake of not keeping all members and other departments informed during the process. Spend enough time to communicate effectively about the strategies and your plans and ensure everyone is on the same page. 

2. Going with a cloud-based or on-premise ERP without the right research

62.7% go with cloud-based ERP solutions rather than on-premise ERP. Sure, in a world where technology is dominating and easing the business processes, going with a cloud-based ERP solution can seem to be the best bet. Of course, cloud solutions are gaining popularity due to the range of features it offers. 

 

But it's essential to conduct thorough market research, understand what's best for your business, while keeping the budget in mind. Do not mistake going for a cloud-based solution and changing your business processes for it. You should always get a software solution that works well with your business processes and not the other way round.  

3. Not knowing whether to get it customized or not

26% of an organization's employees use the ERP system. It’s essential to know who uses the enterprise resource planning solutions to implement the right one for your business. Most companies get it customized according to their business processes, and some go with the ERP solution providers' plans.  

 

While it's up to you to choose the right one for your business, you should do your research and know what's right for your business. But going for a customized solution is always great as it increases the efficiency of your business. However, if you've got a tight budget, talk to consultants and choose the right one. KriyaGo can help you decide the kind of system that's right for your business. If you want to know more about it, reach out to us today!   

4. Implementing it without a proper plan

88% succeed due to ERP implementation, and you can be among the 88% if you plan well. Planning is crucial to implementing an ERP system for your system. Most organizations don't take the time to understand the challenges or have a change management or communication plan before going to the next steps. Set a timeline and budget for a smooth flow. It also avoids conflicts along the process.  

5. Including employees only from a single department

One of the most common mistakes is not getting all the departments on board. You should specify the need for change for both the end-users and the project managers to successfully implement the ERP system successfully.  

 

Not keeping everyone informed can negatively affect the implementation process and create confusions. Therefore, communicate about the change and your goals. Articulate the strategy and have everyone on the same page throughout the process. Most often, organizations don't involve everyone during the process, reducing the chance of successful implementation.  

6. Choosing features over flexibility

The most common mistake that you should avoid is to go by the features. Ensure your ERP system meets your business goals – that is, to improve efficiency. Of course, a system with all the necessary components will add tremendous value, but it shouldn't be only about that.  

 

You should also consider its flexibility and customization to meet your long-term goals. If the system is not flexible but has all the features, it may not be good for your business in the long run.  

7. Overlooking maintenance plan

What most organizations do is, implement the system, and that's it! They overlook the maintenance of it and only understand the importance of it when something goes wrong. A system maintenance plan is as important as any other step.  

 

So, always think ahead and have a maintenance plan for your ERP systems. Once you're done implementing, training your staff is the next crucial step. You should also have your support and maintenance plan for a smooth flow. 

 

Choosing the right ERP solutions reaps fruitful benefits for your business, and it's up to you to make the right choice. Right from researching, planning, strategizing and implementing, you have to keep everyone informed to avoid costly mistakes.  

 

Having all the right functions and flexibility can positively impact your business and also ease the process. Automating tasks with ERP solutions can be great, but it is not just about that. You need to look at the broad picture and see how best it can benefit your business.  

Implement ERP solution for your business with KriyaGo!

One of the main reasons companies implement ERP solutions is to increase efficiency and if you want just that for your company, talk to our KriyaGo team today! We provide ERP software and consulting services for businesses and also provide consultations for your business. We not only implement the system but also provide training, maintenance, and support for your business.  

 

So, if this is something you've been looking for, get on a consultation call with us today!  

References

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