Managing a gated community can be an expensive business. From manpower expenses to utility bills, vendor charges, repairs, and maintenance, the operative costs can be quite high. The complexity of managing a society further makes it difficult to slash costs. This makes cost optimisation a prime concern for community managers.
ANACITY is a full-stack Enterprise Resource Planning (ERP) solution that is designed to streamline community management to optimise available resources. It helps community managers to improve financial management, track expenses, and ensure on-time collection.
What is Cost Optimisation?
Cost optimisation is a focused and continuous drive to reduce spending while maximizing the delivery of service or enhancing product quality. With limited avenues for income, cost optimization is critical for community managers. It helps them to keep a cap on spending to boost their cash reserve and increase resource allocation in more critical areas.
Cost optimisation with ANACITY
Eliminate untraceable expenses: With multiple billings, there are always chances of some untraceable expenses in legacy systems. Bills can get lost or not filed in time. ANACITY’s billing and collection module reduces the chances of fraudulent or missed entries. Thus, it enables the community manager to track every penny and its outcome.
On-time collections: ANACITY’s Billing & Accounting modules automates the process of collecting subscription payments. It also identifies and notifies defaulters, thereby reducing the chances of missing or incorrect payments. By automating all accounting functions, this feature also reduces the community manager’s accounting work by more than 80%.
Track expenses: Check expenses under each category with the ANACITY Expense Tracker. This is vital in tracking where money is being spent. It is key in identifying areas of overspending when cutting down on costs.
Improve financial management: The fully automated accounting module is designed to remove any chances of fraud or human error. Digitalization brings data transparency, enabling us to track expenses, automate billing and ensure timely payments. This is critical in evaluating asset performance and identifying areas of over-expenditure.
Budget variance report: Get instant access to Budget Variance Report. Compare actual expenses with the budget outlay at any given time. This report is critical to identify unplanned expenses and determining the effectiveness of the annual budget. Along with the expense tracker, this report is key in optimising expenses and improving the financial health of the community.
If you want to know more about our cost optimisation tools or to schedule a free demo, get in touch with us at sales@anacity.com or visit www.anacity.com. Learn about the various features you can use for reducing costs and improving your balance sheet!