Entrata Announces New Accounting Tools for Advanced Budgeting
Entrata Advanced Budgeting takes advantage of system data to run calculations and automate many aspects of budget building, allowing Accounting users to leverage their financial data
LEHI, Utah –- May 10, 2023 –- Entrata, the multifamily industry’s leading operating system, today announced the launch of Advanced Budgeting, providing accounting users with a painless way to leverage their financial data to create credible budgets based on informed assumptions. Advanced Budgeting allows users to be more calculated as they operate their budget, set better expectations for future performance and efficiently manage their business.
“We are consistently working with our clients to build the products and tools that help them focus on elevating the resident experience by enabling property operations efficiency,” said Catherine Wong, COO and CPO of Entrata. “With Advanced Budgeting, owners and operators have access to an easy-to-use and powerful multifamily budgeting solution that provides a single source of truth, including historical knowledge, clear versioning and comments that ensures property management teams are viewing the most up-to-date information available.”
Advanced Budgeting Entrata’s latest release to the Accounting suite of products uses the Entrata Operating System to offer an easy-to-use and powerful multifamily budgeting solution.
- Flexibility: Budget how you want to with the ability to add and edit historical data, use formulas, adjust structures, and set different budgets for different properties.
- Collaboration: Budget with a single source of truth, including historical knowledge, clear versioning, and comments that ensure you’re always viewing the most up-to-date information.
- Automation: Save time with built-in logic using data from a single platform. There is now no need to upload additional data when it can all be pulled with the click of a button.
- Control: Specific user permissions and approval routing mean even though the budget can be collaborative, certain actions are restricted to particular roles.
By providing a single system that offers collaboration and real-time data, customers can catch budgeting errors quicker, get budgets approved faster, and communicate across teams more efficiently and collaboratively.
“Before Advanced Budgeting, we would print out a stack of papers of data and give it to our team members to go through. It was really painful,” said Ljudmila Mladenovic, Director of Projects & Facilities at BM Smith. “Now, the team doesn't need to worry about printing reports, or doing everything manually, the data will be available for them in the system. It has greatly reduced the amount of stress on the entire team around the budget."
In addition to Advanced Budgeting, Entrata also released a new online application for affordable properties, an updated Affordable Dashboard, RV Index 2.0, Enhanced Resident’s Insurance policy communications, a new Access Control Integration Partner (PDK), and Gender Inclusivity (pronoun selections on online applications, guest cards, and through the ResidentPortal app).
For more information about Entrata and its technology, please visit www.entrata.com.
About Entrata Entrata is the leading operating system for multifamily communities worldwide. Setting the bar for innovation in property management software since 2003, Entrata offers solutions for every step of the leasing lifecycle and empowers owners, property managers, and renters to create stronger communities. Entrata currently serves over three million residents across more than 20 thousand multifamily communities around the globe. Learn more at www.entrata.com.