We’ve heard it from all our customers that left their previous property management systems to start using STRATAFOLIO how painful it was for them when they went through the initial onboarding on their previous systems. At STRATAFOLIO, we have learned from other companies’ mistakes and we have set up processes in place to avoid recurring pitfalls that are common in the industry.
At STRATAFOLIO, we understand every real estate business out there runs at maximum capacity, so during the onboarding process, we have two main goals.
- First, it is our job to help you through the onboarding process to make it painless.
- Second, we also understand that every day you are not fully using STRATAFOLIO, your organization is losing money, so our goal is to get you up and running as soon as possible. This way you can start saving and taking advantage of your new software solution.
What to expect
Expect a series of 30-minute weekly meetings, and emails until all your data has been updated in STRATAFOLIO, and we have completed your audit and training. We are an agile company, so we will perform an iterative process as we go through the onboarding. This will ensure that if we come across issues, we capture them early and address them right away.
The onboarding will contain multiple activities:
- Initial meeting
- Adding users
- Understanding the ownership breakdown for each legal entity (If applicable)
- Connecting to your QuickBooks Accounts
- Building out your Hierarchy
- Mapping your QuickBooks Accounts
- Completing an audit
- Training your team on how to use STRATAFOLIO
Initial Meeting
During our initial kickoff meeting, we will discuss multiple things:
- We’ll review your current organizational structure to help us understand how to set up your account. If you do not currently have an organization chart, a handwritten one will suffice.
- We’ll discuss what your organization’s goals and objectives are in more detail, so we can set up your software to help you achieve your company’s goals and objectives faster by taking full advantage of STRATAFOLIO.
- We will also set up a weekly meeting, milestones and action items.
- We share with you your own secure share drive where you will be able to place your documents and other deliverables.
- You will be required to provide all the Properties listed below that are marked with an (R). This is the data that is required in order to set up your organization. The items marked with an (O) are optional, and they are not required in order to complete your setup.
- Your first task will be to provide a list of all the users along with their access levels that will have access to your organization.
Add users
By our second meeting, you will have your organization set up in STRATAFOLIO along with all the users in your organization. This will allow you to log into your organization and monitor our progress, and provide instant feedback as we complete the onboarding. This will be an iterative process.
We do not limit the number of users that can be added to the system, so you are welcome to add your entire staff, investors, and accountants if you desire. Below are the roles that you can choose from.
Access Roles
- Administrator – A user with an Administrator role is able to manage other users. They are also able to add/view/update/delete anything within the entire organization.
- Manager – A user with a Manager role is not able to add/view/update/delete other user roles or any Organization specific information. They are also able to only add/view/update anything else within the organization but do not have delete capabilities.
- Reader – A user with a Reader role is not able to add/view/update/delete other user roles or any Organization specific information. They are only able to view anything else within the organization, but they cannot add/update/delete.
- Investor – A user with an Investor role is not able to add/view/update/delete other user roles or any organization-specific information. They are only able to view information where they are directly or indirectly invested in.
- Property Manager – A user with a Property manager role is able to add/edit/view the organization’s hierarchy which include assets, buildings, and units. Additionally they can add/edit/view all work orders, tenants, and leases in the Organization. They are not able to add/edit/view any financial dashboards, or investors within the organization.
- Maintenance – A user with a Maintenance role is able to add/edit/view all work orders in the Organization. They are not able to view any financial data across the Organization or edit anything else in the organization that is not a work order.
Ownership breakdown for each legal entity (If applicable)
During this phase, we will make sure to update your investor ownership structure. STRATAFOLIO can handle multiple types of ownership structures. Some of the most complex ownership structures involve multiple legal entities owning other legal entities with a mixture of individual investors and cascading legal entities. Or, if you have a simpler ownership structure, we can handle that as well.
Connect to your QuickBooks Accounts
During this phase we will need to make your organization’s QuickBooks administrator is in this meeting. This will help us connect to all the QuickBooks accounts that will be connecting to STRATAFOLIO.
Build out you Hierarchy
During this phase, we will start building your STRATAFOLIO Hierarchy data for all your:
- Assets
- Buildings
- Units
- Loans
- Contacts
- Tenants
- Leases
Map your Chart Of Accounts
During this phase, the STRATFOLIO’s onboarding team will start mapping each one of your QuickBooks chart of accounts to the STRATAFOLIO’s standardized chart of accounts, and each account to the corresponding hierarchy location. During this process, each one of your QuickBooks accounts will start coming to life on your Owner’s Dashboard. STRATAFOLIO is able to map your chart of accounts if you use any of the account types below:
- Accounts
- Classes
- Locations
- Business
- Department
- Division
- Location
- Property
- Store
- Territory
Complete Audit
During this phase, our team of experts will request Balance Sheets and Profit and Loss statements from you in order to audit the data in STRATAFOLIO to make sure the data in STRATAFOLIO matches the data in your QuickBooks accounts. We will sign off once this process is complete.
Train your team on how to use STRATAFOLIO
During this phase, our STRATAFOLIO’s onboarding professional will teach your team how to use and get the best out of STRATAFOLIO’s functionality. This will allow your team to get familiar with the software.
After the initial training meeting, we will check in the following week to answer questions, make suggestions regarding features and functionality. We will also teach how to access additional support materials. Or, how to access our Technical Consulting Service where we can help you with adding additional properties into your portfolio.