New Features to Help You Increase Revenue
When I joined Building Engines a few months back I was impressed with the company’s broad initiatives. Today I’d like to share some of our newest innovations that will help you to build a better P&L for you and your owner.
As my colleague Scott Sidman mentioned a few months back in his post, Introducing the Modern CRE Property Manager, the modern property manager thinks like an owner, and has strong financial acumen, and more:
- Thinking like the owner – They understand the owner’s investment and operating goals for the property and they manage accordingly.
- P&L mentality – The modern property manager thinks of each commercial building as its own profit-and-loss center.
- Revenue-oriented – They know that income is the lifeblood of every organization, and put programs in place to drive revenue growth across properties including tenant renewals, billable work orders, proactive account receivable, and quickly filling vacant space.
- Fiscally strong – The Modern property manager is responsible for managing books, reconciliation issues, working closely with finance and accounting, overseeing payroll, mortgage, tax bills, collecting rent, managing budget, CAM (common area maintenance) charges, and more.
That’s why I am excited to announce some of our newest features that help CRE property management professionals to optimize the property’s P&L for the benefit of property owners and investors. Our newest features will help you to prevent revenue from slipping through the cracks. You’ll be able to ensure that you have proper documentation so you can collect the revenue that you have earned.
- Billable inspections – Add labor and material charges and then bill property owners or tenants for inspections, just as you would for work orders or preventive maintenance (PM). Use inspection scoring, which has been expanded to include non-required questions. And we’ve even redesigned the Inspections Template Manager to make it easier to create and edit property and tenant inspection templates.
- Mobile information capture – Ensure that the right information is captured and available on-site. This new capability enables mobile engineers to add new labor and material charge notes from their mobile devices so the tenant understands and is less likely to dispute the work that has been done.
- Invoicing – We’ve also redesigned the charges invoice for a more professional appearance.
These new features add to our existing features including:
- Mandatory signature capture – Tenants enter their signature in BE-Mobile to indicate that a work order has been completed. You can set signature capture to be optional or mandatory.
- Mobile image capture – Engineers can take pictures of the issue to ensure complete documentation.
- Split billing – Split charges on a work order, PM task, or inspection across multiple tenants.
- Resource scheduling – Monetize reservable resources such as conference rooms and freight elevators.
- Accounting support – All of this data can flow easily into your accounting system for expedited billing and cash collection. We also provide detailed accounting reports as well.
All of these revenue capture tools will help you to capture even more revenue in less time so you can improve your P&L and manage your property like a fiscally strong owner.