An accounting system is one of the essential components for any business entity, but it is often standalone and detached from the business operation, and the property management industry is not an exception. Even payments, the closest operation to an accounting system like monthly rentals, maintenance, sinking fund, late payment interest, etc., have no integration between billings and payment processes, resulting in manual eye-balling reconciliations and frequent errors.
“No man is an island; the same applies to a property management accounting system. Imagine how much time saved if one can auto-knockoff invoices when integrating with a tenant management system or do auto-reconciliation when integrating with a bank system. It would be a real time-saver when payment receipts can be generated instantly and immediately sent to the tenants. And tenants would welcome a self-service platform for them to check on their account statuses or pay deposits for any tie-up with events, ” explained Barry Chai, the CTO of TimeTec Group, who is also the system architect of TimeTec i-Account, the Property Management Accounting System.
“A standalone accounting system is usually aimed at solving common accounting problems, but when an accounting system establishes a connection with some related activities, it unleashes endless possibilities to benefit the business, especially when money flow ties up with data flow and activity flow seamlessly,” explained Barry.
About TimeTec
Various renowned clients have subscribed to TimeTec various solutions, including IOI Properties, Putrajaya Holdings, Ibraco, Binastra, Thriven, Hock Seng Lee, QSR Brands, Central Sugars Refinery CSR, Sunway Constructions, Mamee, Yakult, Nano Malaysia Berhad, and many more. The versatility and feasibility of TimeTec products also attract various international customers from all over the world, including Hong Kong, Dubai, Australia, Qatar, South Africa etc.