Our property management operating system (PMOS) is designed to be a core operating system that works with best-in-class solutions. We don’t have an accounting solution, for example, and we don’t have a tool for background checks. Instead, our integration style allows you to connect with the tools you need to work and scale more efficiently.
Today we’re going to give you an inside look at why our solution is like this… because sometimes innovation isn’t looking at the shiny new idea (which we also love to do). It’s looking at something old and kind of broken and saying “We could do this better by simplifying it.”
Here goes…
The property management industry is divided into two
When choosing a technology solution for your property management company, you have two choices…
1) You can go for the traditional PMS that claims to be all in one and inevitably fails at delivering the best experience all around. In this instance, the main solution will typically very quickly become outdated and you’ll have a harder job integrating with other tools. You’ll also lose money on expensive APIs and downtime as your system updates. And you’ll find yourself spending on additional products that better solve your problems even though your property management system supposedly has the functionality already.
2) You can choose a PMOS, a solution focused on the operating core — lead and resident management and communications, rent roll and payments, work orders, reports on income, occupancy, etc. This system embraces the well-known adage that trying to be everything usually means you aren’t great at anything. This solution is ready to integrate with a suite of the best tools because of its new APIs and fresh code and you can benefit from two-way integrations where data flows seamlessly back and forth. It won’t give you every possible thing you need to do in one place, but it won’t need to. You’ll be able to add whatever tools you need as you scale while keeping efficiency in core processes.
Case in point
We’ll be honest… When we first speak to potential partners, they’re often curious about why we don’t offer an accounting solution in our PMOS. However, after speaking to us for just five minutes or viewing a Fortress demo, they can answer that question themselves.
When you choose a PMS that has an accounting system built in, you’re choosing a half-baked accounting system that’s only built for property-related financial data. This means that financials for your investment entities, management entities, construction companies, and even your property management company are either being produced in different software or forced to “fit” into the box built by your PMS accounting platform. In either case, your financials and data are suffering.
Fortress, seeing itself truly as a PMOS, instead chooses to integrate with the best-in-class accounting systems like Sage Intacct (for larger groups) and Quickbooks Online (for smaller groups). And did we mention we integrate for free?
For more sophisticated real estate groups, Sage Intacct is the perfect choice, as the only AICPA-recommended cloud accounting solution, capable of tracking all the financial data in one place. Giving you greater control over the accounting process, it can also handle a wide variety of business lines and entity structures. The best part - it connects directly with Fortress through a bi-directional, real-time API (that can be used with many other other solutions in their large partner network).
Ready to simplify your software? Get in touch to find out how you can build the right foundations for your property management business with Fortress.
