Attention: All CMs, ACMs and Bookkeepers

In February we let you know that with the completion of the Yardi 7S upgrade, we also updated our Month End Checklist and Procedure Manual. 

Yardi Month End Procedures Documents
The new documents are available on Buzz within the Accounting – Community Accounting Page and the Wiki – Month End page.

Review the Yardi 7S Month End Webinar
On Wednesday, February 22 we hosted one-hour webinars that reviewed the changes to the checklist, new locations of reporting in Yardi 7S and where resources can be found. 

The webinar was recorded, and you may view it here. 

Why the change? Associates speak up!

We always encourage Essex associates to work thoughtfully, so when it was brought to our attention that this process may be wasteful, we listened.
 
During a recent site visit to Radius, Jonas was asked by CM Martin Zamora and Assistant Manager Cody Zimmerman for a moment to discuss improving operational processes. Martin and Cody suggested that monthly financials need only be stored electronically, saving resources like paper and associates’ time.
 
We took this suggestion and ran with it. We determined that should we make this relatively minor process change, we will save approximately $85,000 annually in paper and printing costs. Reducing our reliance on printing also supports our mission of sustainability. We will also regain associates’ time spent printing and filing, which will save about $80,000 annually and allow us to refocus our efforts on greater priorities. Additionally, we will regain filing cabinet space that has been dedicated to saving the monthly financials.

Therefore, after thoroughly considering this suggestion we will remove the requirement to print and retain physical copies of monthly financials beginning with, February 2017, which teams have already completed. As a result, RPMs will no longer be required to physically sign-off on these documents.

As a final key takeaway, we encourage you and your teams to always work thoughtfully and speak up with your ideas and suggestions. Be bold just like Martin and Cody – your leadership is here to support you and seriously consider your feedback. We appreciate everything you do, and together we can continue achieving operational excellence.