Real estate developers have distinct software requirements when compared to other sectors of the building industry.
Your project owners may now access Glorium Tech’s cloud-based, all-in-one Real Estate Development software. Glorium Tech helps you, the real estate manager or doers, to operate your business more efficiently and safely.
Its primary real estate development qualities make it considerably more helpful than other generic real estate software. Automates budget iterations and commitment monitoring (contracts and purchase orders).
It is possible to track in real time budgets, obligations, costs, and, most importantly, the cost at completion of a project.
In addition, Glorium Tech’s integrated accounting system comes with an advanced CRM component that is built particularly for real estate development. “The company is the gold standard for real estate development software, with the ability to manage everything from pro forma and final finance to project control and financial reporting,” he said.
All of your property and lease management needs will be taken care of by our expert team when the development project is done.
Here are some of the things you may expect from a real estate software development firm.
Receivables
Glorium Tech allows for the rapid and easy entry of invoices and withdrawals. As a result, invoices for non-contractual services may be simply entered into accounts payable using the Contract Management Module. The appropriate solutions are created to deal with the complexity of construction industry settings. Repairing mistakes, identifying similar invoices, and managing disbursements are all made easier. Glorium Tech supports the reversal of AP transactions, reducing or eliminating the need to keep track of accurate entries of the data.
A/P
Invoices for accounts receivable can be categorized according to generic ledger and project classifications. Glorium Tech allows you to create and manage recurring invoices. If the invoice is billed under a contract, it is classified as receivable.
Audits
The audit trail tool in the company keeps an accurate audit path from the general ledger to projects and fees codes.
Bankbook
Glorium Tech suggests a particular bank book has a thorough audit trail. QuickBooks Online, for instance, makes it simple to create 1099 forms for qualifying businesses and reconcile bank transactions.
Payments or deposits made by a number of different entities may have an impact on the bank account of each individual entity. You can keep track of your money in a bank book if that is what you want. In the general ledger and project leader accounts, several types of entries are permissible.
Budgets
Glorium Tech’s budget monitoring software makes keeping track of budgets by project and general ledger straightforward. If you like, you can divide the money between permitted and requested modifications.
Contract management
You must keep track of the commitments made by contractors and suppliers, as well as the expectations put on them by their clients. Project management done right! It searches for duplicate invoices and rejects withdrawals that are beyond contract limitations, managing contract overpayments. It computes the contractual retention amounts predeterminedly.
General Ledger
A general ledger report is generated by Glorium Tech’s integrated general ledger, which also includes full enterprise and entity-level reporting capabilities. It is possible to create financial statements and detailed ledgers in parallel utilizing procedural approaches that incorporate both cash and accrual accounting principles.
The cost code assigned for each project relates to a certain general ledger account. The organizational structure of a corporation may include entities such as distinct ledgers or profit centers, among other things.
MICR Examining with a Laser
The MICR laser check from Glorium Tech may be used to write AP and salary checks. MICR checks can be printed on both preformatted and blank paper. As a result, you may print checks from several accounts without constantly replenishing the printer’s check stock.
How to Obtain a Loan
Undrawn cost items can be utilized to generate partial or complete requisitions, depending on the situation. Glorium Tech also manages a large number of loans, maintains track of approved loan draws, records cash receipts, and generates journal entries for general ledger journal accounts, among other things.
Property management
The integrated property management module of the supplier keeps track of all elements of the properties under control at all times.
The accounting and finance system in question is related to the property management system in question. Lease expenditures and cash revenues are updated in the general ledger in the same way that other modules are.
POs
Glorium Tech’s purchase order and contract management modules may be compared to see how they vary. This application allows you to keep track of your material needs and payments per unit. Buy orders assist minimize overpayment of invoices by mentioning the amount or total of the purchase order.
Reports
The report writers for each module are both simple and customizable, depending on the needs of the customer. To meet the vast majority of your daily reporting requirements, each member of your team may run hundreds of standard reports at the same time. Identification of a project, lot number or cost code may be accomplished with ease. All reports may be seen on a computer screen before being printed, which saves both time and paper.
Top market players in the USA and EU
The real estate projects often come to be more complicated than the generic software creation projects. The need for the software is the reliable means of planning and budgeting.
Some top market players in the US are generic tools such as Trello and basecamp. These softwares indeed have such positive reviews and feedback in the market.
Here are some top market players in the USA and EU.
l ProofHub
l Re-Leased
l Pendo
l Qube Project Manager
l myMCS Project
l Intervals
l ZOHO Projects
property management software
The property management software provides a great solution for the property managers or investors to manage the properties, tenants, reports, and their banking accounts in one software.
Here are some of the best property management software platforms in the market:
Stessa
Apartments.com
Cozy
Hunt
Custom database software
Due to the sheer number of moving parts involved in a single property or an entire real estate portfolio, even a small team of employees, let alone a single property manager, may become overwhelmed. It enables your business to be more efficient, precise, and productive in the acquisition, sale, and management of real estate.
Consider further information about custom database software by reaching out to Glorium Tech Now.
