By Bill Constantopoulos
Gray, Gray & Gray, LLP
In the real estate and construction world, software solutions are an indispensable tool for streamlining financial management, accounting, and reporting. As the need for these solutions grows, two of the most prominent software platforms designed specifically for the industry are Sage Intacct Real Estate and Yardi. Both software solutions offer a range of features and benefits that can help companies in the industry to optimize their operations. But the more recently introduced Sage Intacct Real Estate has proven to have several advantages over the legacy Yardi program.
Sage Intacct Real Estate offers greater flexibility and scalability than Yardi. It is also a cloud-based accounting solution, meaning that it is accessible at any time, from anywhere there is an internet connection. This allows companies to easily scale their operations and add new locations without having to worry about installing new software on every computer or maintaining an on-premises server. In contrast, Yardi is typically installed on a company’s own servers, which can limit flexibility. As companies expand, they may need to invest in additional hardware to support Yardi, which can be costly and time-consuming.
Another advantage of Sage Intacct Real Estate is its superior reporting capabilities. Sage Intacct Real Estate provides a variety of customizable reports that allow users to view and analyze data in real-time. This can be particularly useful for companies that need to generate reports quickly and accurately for financial reporting or other purposes. Additionally, Sage Intacct Real Estate provides a range of dashboards and visualizations that can help users to quickly identify trends and insights in their data. Yardi’s reporting capabilities are generally more limited, and it may be more difficult to generate customized reports or analyze data on an “as needed” basis.
Sage Intacct Real Estate offers superior integration capabilities compared to Yardi. Sage Intacct Real Estate can integrate with a wide range of third-party applications, such as property management software, construction estimating programs, payment processing solutions, and CRM systems. This allows companies to streamline their workflows and reduce manual data entry, which can save time and improve accuracy. There are additional integrations with other Sage Intacct products, such as Sage Intacct Budgeting and Planning, which can help companies to manage their budgets more effectively. In comparison, Yardi’s integration capabilities are generally more limited, which can make it more difficult to integrate other systems and improve workflow.
An important advantage of Sage Intacct Real Estate is its user-friendly interface. Sage Intacct Real Estate has a modern, intuitive interface that is easy to navigate and use. This can be particularly useful for companies that have multiple users who need to access the software, as it reduces the amount of training required and improves user adoption. In contrast, Yardi’s interface can be more complex and difficult to use, which may require more training and support for users.
In an age when cyberattacks are a primary concern, Sage Intacct Real Estate offers greater security and compliance features than Yardi. Sage Intacct Real Estate is SOC 2 Type II certified, which means that it meets strict security and data privacy standards. Additionally, Sage Intacct Real Estate provides granular access controls that allow companies to limit access to sensitive data and ensure that only authorized users can view or modify data. This is important for companies in the real estate and construction industry that may be handling sensitive financial information. In comparison, Yardi’s security and compliance features are more limited, which can require additional resources to shore up cyber defenses.
While both Sage Intacct Real Estate and Yardi offer features and benefits designed for users in the real estate and construction industry, the Sage Intacct Real Estate platform has superior reporting capabilities, greater flexibility and scalability, better integration capabilities, a more user-friendly interface, and superior security and compliance features.
Bill Constantopoulos is a Partner leading the Sage Intacct & Advisory Practice Group at Gray, Gray & Gray, LLP, a business consulting and accounting firm that serves a wide range of industries. He can be reached at (781) 407-0300 or bconstantopoulos@gggllp.com.