Expense Control Questionnaire
This questionnaire will help reveal areas for improving Expense Control
Examples of questions:
- What are the major categories of marketing spend?
- What is our marketing spend to acquired a lead?
- What is our marketing spend to acquired a new tanent?
- Which marketing channels are driving the best leads?
The pdf includes all the questions and columns for ranking them.
Understand what money is being spent on
What is Analytics for Expense Control?
- Use the ability to drill into your data to understand what you’re spending money on, where expenses are growing, and what is driving the expenses
- We take expense control beyond looking at standard reports. We create flexible analytics solution to slice and dice your data
Why Use Analytics for Expense Control
- Standard reports provide a snapshot, but they don’t tell a detailed story
- Most reports enable viewing expenses summarized the GL Account level. However, there can be many different types of transactions charged to a single account.
- It is important to understand charges by vendor, by property (or unit), by employee etc. in order to have a solid understanding of where the money is going
- Quality of the data is often the biggest challenge
- Sometimes the transactions are not charged to the correct GL Account
- Transactions have incomplete information (for example, a $50 payment to a locksmith doesn’t show the name of the locksmith or the property/unit the service performed for)
- We extract data from the General Ledger and set it up for analysis
- Sometimes, effort has to be made at cleaning the data so that transactions are reflected in the right accounts
- By analyzing activity in individual GL Accounts over months, quarters and years, we display trends, spikes and dips
- We also compute ratios that reflect increasing or decreasing expense per, say lease or unit
- Using Excel or Tableau, we are able to drill down to individual transaction
- The analysis highlights GL Accounts where expenses are growing faster than income generating activity
Our solutions are built on the RentViewer software. RentViewer connects to data sources (such as Property Management Systems, other systems and Excel files), collates the data and enables the creation of Executive Dashboards, Custom Reports and Analytical Solutions
Do you have questions and need detailed explanation of how our product could help your businness?
The Property Management Metrics Handbook
Which property management metrics are important to you?
See a list of over 100 metrics for categories such as:
- Lead Management Metrics
- Lease Application Metrics
- Unit Turnover Metrics
Use the Handbook for ideas on metrics that will be useful to your company.
Decide which property management metrics should be tracked and used for setting improvement goals.