Model Group – Dynamics GP to Syndicate Data and Connect Unique Real Estate Developer Systems
The Model Group has a multifaceted business operation, requiring specialized accounting and property management software. Keep reading to learn how the real estate developer syndicated data between their systems and minimized reporting inefficiencies with Dynamics GP and a sophisticated interface from Velosio.
Table of Content
Velosio Case Study: The Model Group Inc.
Download“Velosio Delivers Solid Foundation for the Model Group”
About the Company
CUSTOMER: Model Group, Inc.
INDUSTRY: Property Management & Real Estate Developer
LOCATION: Cincinnati, OH
NUMBER OF LOCATIONS: One, 35 employees
SYSTEM: Microsoft Dynamics GP
The Model Group Inc. is a real estate development, construction and management company founded in 1978 and headquartered in Cincinnati, Ohio. The Model Group’s portfolio primarily consists of affordable housing as well as conventional apartments, condominiums, commercial, and retail. The company stakes its reputation on its ability to effectively design and implement innovative real estate solutions for its customers and partners. Model Group is committed to the neighborhoods and people in Ohio and Kentucky, and remains focused on building long-term relationships and on maintaining premium standards of quality.
The Model Group is a real estate developer with a multifaceted business operation requiring specialized accounting and property management software to meet its complex reporting requirements.
Velosio designed an interface between Microsoft Dynamics GP and Model Group’s property management solution.
Data exchange between the two solutions occurs automatically, saving time-consuming and redundant data entry. Complex financial reporting is accomplished quickly and painlessly.
Bring Home The Right Solution
When Ron Muse, controller at Model Group, joined the organization, the company was using a software package designed to handle federally subsidized low income housing. The package was outdated, and not robust enough for the company’s growing operations and reporting requirements. “We are a dynamic, growing enterprise and our software was slowing us down,” Muse says.
The company changed to another property management software package that relied on Microsoft Dynamics GP for its back-end accounting functionality. Unfortunately the application did not meet Model’s complex requirements. “We gave it a try for nearly two years,” Muse recalls. “But It just didn’t work for us.” The company’s business model focuses on the affordable housing market, and is subject to many regulations and requirements. “We ultimately found BostonPost Technology, a Microsoft SQL-based package specifically for this market that could also support our other business areas,” says Muse.
Find A Winning Business Partner
The company’s Microsoft Dynamics GP solution was performing flawlessly though, and Muse and the rest of the management team wanted to keep it in place as the accounting backbone for BostonPost. They approached Microsoft for recommendations and got a single name—Velosio.
“Microsoft thinks highly of Velosio,” says Muse. “When we interviewed Velosio we were so impressed we hired them.”
Velosio went right to work designing a sophisticated interface between BostonPost and Dynamics GP. The data exchange between the two solutions is complex, with numerous integration points. “For the property management side of our business, we pay the service provider and simultaneously bill the property owner for the service,” Muse explains.
An invoice entered into BostonPost may create both a payable voucher and a receivables invoice in Dynamics GP. The data exchange happens entirely behind the scenes with no interaction from Model Group’s staff. “Right away we began saving about $2,500 a month that we used to pay an outsourcing company to bill for services,” says Muse. “We were able to bring the process in- house without adding additional staff. Plus, the real-time processing allows us to bill more quickly which helps our cash flow.”
The streamlined interface between the two business management solutions automates what would be a tedious, manual process.
“The interface that Velosio built allows us to continue on our growth track and to fully utilize both systems without being bogged down with administrative and data entry tasks.”
Ron Muse, Controller, Model Group
The SQL database common to both solutions facilitates the data exchange. “Velosio was able to get BostonPost and Dynamics GP to work together in an ideal solution for us,” Muse says. “It’s a testament to their expertise.”
Streamlined Financial Reporting
Reporting is a priority for Model Group. Microsoft FRx Financial Reporter is the tool the company uses to generate the majority of its complex financial reports.
“We generate a monthly report package from Dynamics GP using FRx for each of the 50-plus properties we manage, to present to the property owners and investors,” explains Muse. “We complete our month end process which includes the reporting within the first two weeks of the month. That’s an impressive amount of work in a short amount of time considering a staff of five accountants —made possible by our software tools”.
With the support, advice, and expertise of Velosio, Model Group now has a powerful and scalable business management solution that meets its requirements, now and into the future.
“Our business is so unique that it’s invaluable to us to have a business partner like Velosio that understands how we operate,” Muse concludes. “They take good care of us.”
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