AppFolio Case Studies BK Management's Efficiency Leap: Consolidating Accounting Operations with AppFolio

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	BK Management's Efficiency Leap: Consolidating Accounting Operations with AppFolio AppFolio

BK Management's Efficiency Leap: Consolidating Accounting Operations with AppFolio

AppFolio

Technology Category	Infrastructure as a Service (IaaS) - Cloud Databases Platform as a Service (PaaS) - Application Development Platforms
Applicable Industries	Buildings Finance & Insurance
Applicable Functions	Facility Management Procurement
Use Cases	Inventory Management
Challenge	BK Management, a property management company catering to student housing around Purdue University, was initially running its corporate accounting and property management accounting on two separate platforms. The company was using QuickBooks for corporate accounting and AppFolio for property management accounting. This lack of integration led to inefficiencies and workarounds as they had to run separate reports from both platforms and then attempt to consolidate the data. The process was clunky and time-consuming, preventing the company from achieving optimal efficiency in their operations. Read More
About Customer	BK Management is a property management company established in 2011 and based in West Lafayette, Indiana. The company manages over 1,200 units and has experienced a growth of 400 units in just one year. BK Management primarily caters to owners of student housing around Purdue University. The company's mission is to provide quality, affordable, and safe housing to students while continuing to grow the business. BK Management values efficiency and innovation in its operations, as evidenced by their decision to consolidate their accounting operations using AppFolio. Read More
Solution	BK Management decided to migrate all their accounting operations over to AppFolio. This move allowed them to have a single source of truth for all their accounting needs, eliminating the need for constant workarounds and dual entries. AppFolio's customizable GL codes, cloud-based nature, single entry feature, and owner portal significantly improved the company's workflows. The owner portal, in particular, was beneficial to property owners who appreciated the detailed reporting and the ability to receive ACH payments. AppFolio's continuous software innovation also allowed BK Management to become more efficient with each new feature added. For instance, the addition of eCheck payouts for security deposit returns, the ability to assign costs to different projects, and the creation of estimates for major renovations were all features that BK Management found extremely useful. Read More Log in to view content
Contents

Technology Category

Infrastructure as a Service (IaaS) - Cloud Databases

Platform as a Service (PaaS) - Application Development Platforms

Applicable Industries

Buildings

Finance & Insurance

Applicable Functions

Facility Management

Procurement

Use Cases

Inventory Management

Challenge

BK Management, a property management company catering to student housing around Purdue University, was initially running its corporate accounting and property management accounting on two separate platforms. The company was using QuickBooks for corporate accounting and AppFolio for property management accounting. This lack of integration led to inefficiencies and workarounds as they had to run separate reports from both platforms and then attempt to consolidate the data. The process was clunky and time-consuming, preventing the company from achieving optimal efficiency in their operations.

About Customer

BK Management is a property management company established in 2011 and based in West Lafayette, Indiana. The company manages over 1,200 units and has experienced a growth of 400 units in just one year. BK Management primarily caters to owners of student housing around Purdue University. The company's mission is to provide quality, affordable, and safe housing to students while continuing to grow the business. BK Management values efficiency and innovation in its operations, as evidenced by their decision to consolidate their accounting operations using AppFolio.

Solution

BK Management decided to migrate all their accounting operations over to AppFolio. This move allowed them to have a single source of truth for all their accounting needs, eliminating the need for constant workarounds and dual entries. AppFolio's customizable GL codes, cloud-based nature, single entry feature, and owner portal significantly improved the company's workflows. The owner portal, in particular, was beneficial to property owners who appreciated the detailed reporting and the ability to receive ACH payments. AppFolio's continuous software innovation also allowed BK Management to become more efficient with each new feature added. For instance, the addition of eCheck payouts for security deposit returns, the ability to assign costs to different projects, and the creation of estimates for major renovations were all features that BK Management found extremely useful.

Impact #1	The migration to AppFolio has significantly improved BK Management's operational efficiency. The company no longer has to deal with the inefficiencies and workarounds that came with using two separate accounting platforms. The single source of truth provided by AppFolio has streamlined their accounting operations, making it easier to manage their growing portfolio of over 1,200 units. The company has also benefited from AppFolio's continuous software innovation, which has allowed them to become more efficient with each new feature added. Furthermore, the support provided by AppFolio's team has been instrumental in resolving issues quickly, ensuring that BK Management's operations run smoothly. The company has also found value in AppFolio's user community, which serves as a resource for discussing issues and finding solutions.

Impact #1

The migration to AppFolio has significantly improved BK Management's operational efficiency. The company no longer has to deal with the inefficiencies and workarounds that came with using two separate accounting platforms. The single source of truth provided by AppFolio has streamlined their accounting operations, making it easier to manage their growing portfolio of over 1,200 units. The company has also benefited from AppFolio's continuous software innovation, which has allowed them to become more efficient with each new feature added. Furthermore, the support provided by AppFolio's team has been instrumental in resolving issues quickly, ensuring that BK Management's operations run smoothly. The company has also found value in AppFolio's user community, which serves as a resource for discussing issues and finding solutions.

Benefit #1	Saved 3 hours per week by using AppFolio Property Manager
Benefit #2	Managed to grow the number of units by 400 in just one year
Benefit #3	Managed over 1,200 units efficiently using AppFolio

Benefit #1

Saved 3 hours per week by using AppFolio Property Manager

Benefit #2

Managed to grow the number of units by 400 in just one year

Benefit #3

Managed over 1,200 units efficiently using AppFolio

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Overview

BK Management's Efficiency Leap: Consolidating Accounting Operations with AppFolio

Operational Impact

Quantitative Benefit