Software

How to Structure Acquired Knowledge in a Company

How to Structure Acquired Knowledge in a Company

There is a large amount of information that comes into a company on a daily basis. There are many learning opportunities from all those occasions, like insight on best practices, helpful comments, and suggestions. The question is how to bring in all of that acquired information into the company, so it lives as part of the organization itself.

This is not a simple question, and in fact, it’s rather difficult because most of the time, there is no space to think about anything other than the work that must be done. It is nevertheless significant. How can the company become a kind of learning machine that integrates all the beneficial information that will help the company grow even more?


An Evolving Portfolio Invoicing Process

An Evolving Portfolio Invoicing Process

If you manage properties, like we do at Celaque, you probably know how difficult it is to develop and send monthly invoices to customers. As a portfolio manager, we are responsible for billing rent and other fees to apartments or office space. The invoices have many moving parts, depending on the property; ours include monthly rent, late fees, and condominium fees, and each of these items can vary and depend on different factors. This is the story of how we are evolving from manual to automatic billing.

At one point, we were managing a facility’s accounting, sending out about 300 invoices on a monthly basis to the owners and lessees of the building complex. Initially, compiling and distributing the invoices took about two weeks per month. Although we were using Cloud accounting software at the time (Zoho Books) to send out the invoices and manage payments, the invoices were still being manually uploaded one by one.


One Last and Powerful Benefit of Our ERP: Enhancements

One Last and Powerful Benefit of Our ERP: Enhancements

We recently implemented an Enterprise Resource Management System (ERP) at our firm. The program we selected is NetSuite, which is one of the top cloud-based ERPs available. It has been a 180-degree improvement.

As a real estate development firm, our accounting process and workflow is fully integrated, from inventory purchase to the sale/lease of residential or office units. NetSuite also has tools that organize and catalog our various databases. For more on NetSuite, please refer to my posts: NetSuite: How to Select the Best ERP, and What Happened During Our Year Implementing NetSuite.

Some systems, like NetSuite, come with tools and platforms that allow businesses to modify the system itself to adapt it to a company's needs more closely. The ability to customize is an additional benefit of transitioning to more advanced systems. NetSuite, for example, has a platform called SuiteScript that allows companies and developers to add to and modify it. Once we implemented NetSuite and were able to manage all of our principal transactions through it, we decided to develop enhancements to automate further and eliminate errors in our operations.


The End of Excel and How to Substitute It (For the Most Part)

The End of Excel and How to Substitute It  (For the Most Part)

I have been on a crusade to eliminate Microsoft Excel at our company for the past year and a half. Excel is a wonderful tool, don’t get me wrong. I have been using Excel for years and years, and that very loyal, noble spreadsheet has been my support through thick and thin. During my days as an accounting student, I programmed my financial statements and balanced them using Excel. As an investment banking intern, I learned to create advanced financial models with the same tool. In Alianza, the company where I worked previously and where I ran the accounting department, we also used spreadsheets to create our financial statements and their supporting documents.

Through all those times, Excel was dependable and a true friend. Eventually, however, we started having problems. If I look back and analyze it, the issue wasn’t Excel itself, and it still isn’t. It was the errors we kept finding: we either added an extra digit to the number by mistake or the spreadsheets weren’t all connected with one another, so they needed to be reconciled between each other. Once Alianza grew to a certain size, we quickly realized that we spent more time checking to make sure Excel was right than working with the information in the first place. So, when we started Celaque, the company I currently run, I knew our dependence on Excel had to go.