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Division Professional Division October 4, 2023 Supply and Demand For every cybersecurity professional who is currently employed, there are two open cybersecurity positions currently available in the market. However, those numbers do not tell the whole talent shortage story. The real shortage is in the quality and experience of those professionals as the demand dramatically increases every year. Addressing the Talent Gap As cybersecurity becomes more and more critical in this climate, smaller to mid-level companies are attempting to compete with global giants for the top cybersecurity talent that is available. But, with their smaller budgets, it can be an uphill battle to attract and retain those experts. How Can You Level the Playing Field? The good news is, no matter what your goals are and the extent of your budget, you can be successful in hiring information security experts in this market! Click here to download our guide and learn how you can address this challenge today. Or are you looking to work with a specialized search partner to address your information security needs? Click here to talk to an expert today!

Over the past decade, PropTech has rapidly advanced, empowering property managers, investors, and tenants alike. With the integration of artificial intelligence, machine learning, and automation, real estate operations have become more data-driven and responsive. However, the complexities of managing properties, from procurement to payment, have posed significant challenges, often leading to inefficiencies and errors. Introducing Yardi's Procure to Pay Module Yardi, a leading provider of property management software, recognized the need for a comprehensive solution to address the procurement and payment challenges faced by property management professionals. Enter Yardi's Procure to Pay module—a powerful tool designed to revolutionize the way property transactions are managed with vendors. According to Yardi, through the P2P module, clients reduced costs by up to 80% and shortened invoice processing times by 75%. Below are some of the key features that can save your property both time and money when it comes to vendor transactions. Key Features and Benefits Streamlined Procurement Process: With Yardi's P2P module, property managers can automate the entire procurement lifecycle, from requisition to approval to purchase order generation. By centralizing vendor management and catalog integration, the platform simplifies the sourcing process, reducing manual efforts and accelerating purchasing decisions. Enhanced Visibility and Control: Real-time tracking and reporting capabilities provide stakeholders with unparalleled visibility into procurement activities. Property managers can monitor spending, track order status, and analyze vendor performance, enabling informed decision-making and cost optimization. Efficient Invoice Management: Yardi's P2P module seamlessly integrates with accounting systems, facilitating automated invoice processing and reconciliation. By digitizing invoice capture and approval workflows, the platform eliminates paper-based inefficiencies and reduces the risk of errors and discrepancies. Vendor Collaboration: The module enables seamless communication and collaboration with major vendors through a self-service portal. From submitting bids to managing contracts, vendors can interact with property managers in real time, fostering transparency and strengthening relationships. Compliance and Audit Readiness: Built-in controls and compliance features ensure adherence to regulatory requirements and internal policies. Automated audit trails and documentation management capabilities simplify compliance reporting and support audit readiness, reducing risk and exposure. The Future of PropTech with Yardi and BGSF Yardi's Procure to Pay module represents a significant milestone in the evolution of PropTech, empowering real estate and property management professionals to revolutionize their operations and achieve unprecedented levels of efficiency, effectiveness, and cost savings. As the industry embraces digital transformation, solutions like Yardi's P2P module will continue to redefine the way properties are managed, transactions are conducted, and value is created in the real estate sector. BGSF specializes in providing top-notch staffing and managed solutions tailored to the unique needs of the Commercial Real Estate and Multifamily industries when it comes to PropTech. Our team of professionals is dedicated to helping you navigate the ever-evolving landscape of real estate technology, ensuring that you stay ahead of the curve and achieve your business goals. Click here to contact us today!

Traditionally, the field of property management has relied on manual processes, spreadsheets, and human intuition to oversee and manage properties. However, with the advent of Artificial Intelligence (AI), a new era of efficiency, insights, and innovation has dawned upon the industry, particularly within Commercial Real Estate (CRE). From automating routine tasks to offering predictive analytics, AI is transforming property management practices, enhancing decision-making capabilities, and driving significant value for stakeholders. The Benefits of AI in Commercial Real Estate Streamlining Operations: AI-powered software solutions streamline day-to-day operations by automating repetitive tasks such as rent collection, maintenance requests, and lease management. These systems utilize machine learning algorithms to analyze historical data, identify patterns, and predict maintenance issues before they escalate. By optimizing workflows, Property Managers can allocate their time and resources more efficiently, focusing on strategic initiatives rather than mundane tasks. Enhancing the Tenant Experience: Happy tenants are the cornerstone of successful commercial properties. AI-driven platforms leverage data analytics to gain insights into tenant preferences, behavior, and satisfaction levels. By understanding tenant needs and proactively addressing concerns, Property Managers can foster better relationships, improve retention rates, and attract new tenants. Predictive Maintenance: AI algorithms analyze vast amounts of data from IoT sensors, equipment diagnostics, and historical maintenance records to predict equipment failures and maintenance requirements accurately. By implementing predictive maintenance strategies, Property Managers can minimize downtime, reduce repair costs, and prolong the lifespan of critical assets, ultimately enhancing the overall operational efficiency of the property. Optimizing Energy Management for Sustainability: Energy consumption constitutes a significant portion of operating expenses for commercial properties. AI-powered energy management systems analyze real-time data to optimize energy usage, identify inefficiencies, and recommend cost-saving measures. By leveraging AI-driven insights, Property Managers can reduce energy expenses, achieve sustainability goals, and enhance the environmental performance of their properties. Increasing Building Security and Compliance: AI-powered security systems offer advanced threat detection capabilities. Facial recognition, access control, and surveillance systems can identify unusual activities, enhancing the overall security of commercial properties. Additionally, AI analyzes legal documents and contracts to identify potential risks, ensuring compliance with regulations and minimizing legal challenges. Risk Management and Decision Support: AI-enabled risk management tools help Property Managers assess potential risks, such as market fluctuations, lease defaults, and regulatory compliance issues. By analyzing historical data and market trends, AI algorithms provide valuable insights to support strategic decision-making, asset valuation, and portfolio optimization, enabling Property Managers to mitigate risks and maximize returns on investment. Market Analysis and Forecasting: AI-powered analytics platforms leverage machine learning algorithms to analyze market data, demographic trends, and economic indicators. By providing accurate market forecasts and predictive insights, these tools empower Property Managers to make informed decisions regarding property acquisition, disposition, and portfolio diversification, thereby optimizing investment strategies and maximizing asset value. AI + CRE The integration of AI technology in Commercial Real Estate property management represents a paradigm shift in the industry, offering unprecedented opportunities for efficiency, innovation, and value creation. By embracing AI-powered solutions, Property Managers can streamline operations, enhance tenant experience, optimize asset performance, and make data-driven decisions to stay ahead in today's competitive market landscape. As AI continues to evolve, its impact on CRE property management is poised to grow exponentially, ushering in a new era of efficiency and sustainability in the built environment. As a leader in both property management staffing and IT consulting services, BGSF is uniquely positioned to help you design, implement, and maintain your AI and IT strategies in Property Management. Find out more!

In today's rapidly evolving telecommunications landscape, where customer expectations are soaring and operational efficiency is critical, the merging of advanced technologies is becoming a necessity rather than a luxury. ServiceNow and NVIDIA are at the forefront of this transformation, unveiling telecom-specific generative AI solutions aimed at revolutionizing customer service experiences. Let's explore the details of their partnership and how it is primed to transform the industry. Expanding Partnership for Enhanced Service Experiences ServiceNow, renowned for its digital workflow solutions, and NVIDIA, a leader in AI computing, have announced an expansion of their partnership, introducing innovative AI solutions tailored specifically for the telecommunications sector. The first of these solutions, Now Assist for Telecommunications Service Management (TSM), leverages the power of NVIDIA AI to empower telecom organizations in boosting agent productivity, accelerating time to resolution, and enhancing customer interactions. Addressing the Telecom Industry's Needs with GenAI Telecom organizations are increasingly turning to AI and automation to streamline operations, reduce costs, and unlock new business opportunities. Recognizing this trend, ServiceNow and NVIDIA have collaborated to introduce GenAI, a transformative solution designed to learn and improve with each interaction. With GenAI, businesses can enhance productivity, elevate customer experiences, and drive significant cost savings, propelling the industry toward unprecedented levels of efficiency and innovation. ServiceNow's GenAI: Key Features and Benefits Now Assist for TSM offers several features powered by ServiceNow's advanced language models and NVIDIA's cutting-edge AI technologies, including: Customer Care Enhancement: GenAI-powered chat summarization and agent assist capabilities enable telecom customer service agents to deliver accurate and prompt support. By summarizing case activities and guiding agents with "next best actions," GenAI facilitates quicker resolution of customer queries, leading to enhanced customer satisfaction and reduced call volumes. Service Assurance Optimization: GenAI equips service assurance teams with streamlined incident management capabilities, providing rapid insights into complex incidents such as fiber cuts. By deciphering technical jargon and distilling complex information into clear summaries, GenAI accelerates time to resolution, minimizes operational costs, and augments overall service assurance efficiency. Future Prospects and Responsible AI ServiceNow and NVIDIA are committed to further developing telecom-specific GenAI solutions tailored to meet the evolving needs of customers. By partnering for the responsible and safe deployment of AI, these organizations aim to address industry challenges while ensuring ethical and transparent utilization of AI technologies. The collaboration between ServiceNow and NVIDIA marks a major turning point in the telecom industry's journey towards digital transformation. With GenAI solutions, businesses can embark on a path of enhanced productivity, superior customer experiences, and sustainable growth. As the partnership continues to evolve, we can expect to witness further innovation and breakthroughs that will shape the future of telecommunications globally. ServiceNow and BGSF ServiceNow can bring numerous benefits to customers, including improved IT operations, enhanced visibility and control, seamless integration, access to industry best practices, and experienced support. Whether you are a large enterprise or a small business, ServiceNow can help you achieve your IT goals and improve your overall operations. As a member of the ServiceNow® Partner Program, we have expanded our Managed Solutions practice to enhance the benefits of ServiceNow for our valued customers and prospective customers. Contact us today to learn more about our ServiceNow capabilities and services!

In today's job market, staying ahead often means acquiring new skills and certifications. One such avenue that has gained significant traction is Workday certifications. As organizations increasingly rely on Workday for their HR and finance needs, individuals with expertise in this platform are in high demand. Therefore, Workday certifications are becoming more and more valuable in the current job market. Learn how they can benefit your career and the steps you can take to pursue them below. The Significance of Workday Certifications Workday is a leading provider of enterprise cloud applications for finance and human resources. Its innovative solutions streamline processes, enhance productivity, and drive business success. With Workday being adopted by an increasing number of companies worldwide, the demand for skilled professionals proficient in its implementation and management is on the rise. This is where Workday certifications come into play. Benefits of Workday Certifications Enhanced Employability: Workday certifications validate your expertise and proficiency in implementing, configuring, and managing Workday solutions. This makes you a sought-after candidate for organizations looking to deploy or optimize their Workday systems. Career Advancement: Holding Workday certifications opens many avenues for career advancement. Whether you're aiming for promotions within your current organization or seeking new opportunities elsewhere, certified professionals are often given preference due to their specialized knowledge and skills. Increased Earning Potential: Workday-certified professionals typically command higher salaries than their non-certified counterparts. Employers are willing to pay a premium for individuals who can effectively leverage Workday to drive business outcomes and ROI. Continuous Learning and Growth: Workday regularly updates its platform with new features and functionalities. By pursuing Workday certifications, you commit to ongoing learning and skill development, ensuring that you stay abreast of the latest advancements in the field. How to Get Workday Certified Choose the Right Certification: Workday offers a range of certifications tailored to different roles and proficiency levels, including Workday HCM, Financial Management, Integration, and more. Research the certifications available and select the one that aligns with your career goals and expertise. Prepare Thoroughly: Workday certification exams are rigorous and comprehensive. Utilize official Workday training materials, online courses, practice exams, and hands-on experience to prepare effectively. Register for the Exam: Once you feel confident in your preparation, register for the certification exam through the Workday Certification Portal or an authorized testing center. Take the Exam: On the day of the exam, arrive early, well-rested, and equipped with the necessary identification and materials. Pace yourself during the exam, carefully read each question, and leverage your knowledge and problem-solving skills to answer to the best of your ability. Maintain Your Certification: Workday certifications are valid for a certain period, typically two years, after which you'll need to renew them by completing relevant continuing education activities or retaking the exam. Working with Workday Workday certifications offer a pathway to professional growth, career advancement, and increased earning potential in the rapidly evolving landscape of enterprise cloud applications. By investing in Workday certifications, you not only validate your expertise but also position yourself as a valuable asset to organizations seeking to leverage Workday for a strategic advantage. Take the first step towards unlocking your career success with Workday certifications today. As a trusted Workday Services Partner, BGSF has a proven track record of providing exceptional talent to Workday customers nationwide. With an in-depth knowledge of the Workday product, our resources and consultants are readily available to assist customers whenever they require support, including feature adoption, business transformation, staff augmentation, permanent placement, post-production support, and Phase X projects. Want to pursue your Workday certification? It’s time to partner with BGSF. Contact us today!

As the end of the quarter approaches, businesses are faced with the critical task of closing out their financial books and ensuring a smooth transition into the next period. This process demands precision, strategic planning, and a deep understanding of financial intricacies. Below we'll explore how Accounting and Finance Consultants can play a pivotal role in helping your business successfully close out the quarter with speed and efficiency. The Benefits of Utilizing Finance and Accounting Consultants Scalability: During peak periods such as quarter-end close, the workload for in-house staff can spike significantly. Consultants provide scalability by offering additional resources and manpower as needed. This ensures that the closing process remains on schedule without overburdening internal teams. Focus on Core Competencies: By entrusting certain financial tasks to consultants, in-house staff can dedicate more time and attention to their core competencies. This not only improves overall productivity but also allows employees to focus on strategic initiatives that drive business growth. Expertise in Regulatory Compliance: Quarter-end reporting involves compliance with a myriad of regulations and accounting standards. Accounting and Finance consultants are well-versed in the latest changes to financial regulations, ensuring that your business stays in line with industry requirements. Their expertise minimizes the risk of regulatory non-compliance, protecting your business from potential legal ramifications. Efficient Data Management: Quarter close involves processing vast amounts of financial data. Finance Consultants specialize in streamlining data management processes, ensuring accurate and timely financial reporting. With their expertise, businesses can optimize their financial systems, reduce errors, and enhance overall efficiency in handling financial data. Strategic Financial Analysis: Consultants bring a fresh perspective to the table, providing insightful financial analysis that goes beyond basic number-crunching. They can identify trends, assess the company's financial health, and offer strategic recommendations for the upcoming quarters. This proactive approach helps businesses make informed decisions and pivot their strategies for sustained growth. Cost Optimization and Budgeting: Accounting and Finance Consultants can identify areas for cost optimization, ensuring that your business operates within its budgetary constraints. Through comprehensive budget analysis, they help align financial goals with business objectives, maximizing resource allocation for optimal results. Process Improvement: Consultants are adept at identifying inefficiencies within financial processes. By conducting thorough audits and evaluations, they pinpoint areas for improvement, recommending changes that can enhance overall operational efficiency. This not only streamlines the quarter-end close but also sets the stage for improved financial performance in subsequent quarters. Technology Integration: Staying abreast of the latest financial technologies is crucial for modern businesses. Consultants can recommend and implement cutting-edge accounting software and tools, automating repetitive tasks and reducing the likelihood of errors. This integration not only expedites the quarter-end close process but also ensures that your business remains competitive in the digital era. Training and Development: Accounting and finance consultants often provide training to internal teams, imparting valuable skills and knowledge. This not only fosters a culture of continuous improvement within the organization but also ensures that the internal team is well-equipped to handle future quarter-end closes with increased efficiency. Close the Quarter Strong Enlisting the services of Accounting and Finance Consultants is a strategic investment for any business looking to close out the quarter seamlessly. Their expertise in regulatory compliance, data management, strategic analysis, and more, can elevate your business to new heights. As you navigate the complexities of the financial landscape, partnering with consultants ensures that your business is not only meeting industry standards but also positioning itself for long-term success throughout the coming year. Our extensive network of Finance and Accounting professionals are available to help you navigate the end of this quarter and beyond. Contact us today to learn more!

Building a "keep the lights on" team for accounting and finance functions during an ERP (Enterprise Resource Planning) implementation is crucial to keeping financial operations running smoothly amidst the transition. ERP implementations are highly complex, resource-intensive projects that have visibility within an organization at the highest levels and have a waterfall effect on all departments within the organization. When planning for the implementation, significant consideration is given to selecting the key players from the finance and accounting functions who will play a vital role in defining and documenting processes and workflows. They will also be working as subject matter experts with respect to how the business works. Because implementations are highly complex, resource intensive, and visible at the C level, these key players are consumed with the effort of getting the implementation done and done right within a reasonable timeframe. What room does that leave for key personnel to do their day jobs? The answer is, none. ERP Implementation: Accounting and Finance Priorities So, what steps can you take to develop an effective KLO team? From hiring top consultants for key personnel to providing the appropriate training and communication, here are some steps you can take today. Identify Key Personnel: Determine the core team members within the organization responsible for maintaining day-to-day financial operations. This typically includes senior accountants, financial analysts, and IT support staff with expertise in finance systems. If they are earmarked for the project, consider temporarily backfilling their role with resources who can help “keep the lights on” during the implementation. Bringing in seasoned consultants to work with the internal implementation team can also benefit your project. These consultants are experienced in the tasks needed for a successful ERP implementation and can provide critical perspectives from outside the organization. Consider a Project Management Office (PMO): Consider adding a seasoned PMO to ensure all key ERP implementation tasks and corresponding deadlines are met. They can also coordinate with key team members and provide critical status updates to management. Establish Clear Roles and Responsibilities: Define the roles and responsibilities of each team member during the ERP implementation. Ensure that everyone understands their tasks in maintaining ongoing financial operations while the implementation is underway. This will help identify any gaps that may exist and allow you to shore up your team with temporary resources. Provide Training and Support: Invest in training programs to equip team members with the necessary skills and knowledge to navigate the new ERP system effectively. Offer ongoing support and resources to address any challenges they may encounter during the transition. Implement Strong Communication Channels: Establish regular communication channels to facilitate collaboration among team members and promptly address any issues or concerns. This may include daily check-ins, weekly meetings, or an online collaboration platform. Document Processes and Procedures: Review existing financial processes and procedures to ensure continuity during the ERP implementation. Document future state processes and procedures that reflect changes resulting from the new system. Develop Contingency Plans: Anticipate potential disruptions to financial operations during the ERP implementation and develop contingency plans to mitigate risks. Identify backup systems and alternative procedures to keep essential functions running smoothly. Coordinate with the ERP Implementation Team: Maintain close coordination with the ERP implementation team to align timelines, address dependencies, and ensure a seamless transition between the KLO team and the implementation team. Monitor Progress and Performance: Regularly monitor the progress and performance of the KLO team to identify any issues or areas for improvement. Adjust strategies and resource allocation as necessary to optimize efficiency and effectiveness. Maintaining the Day-To-Day Ultimately, the success of an ERP implementation hinges not only on the efficiency of the project team but also on the resilience and adaptability of the team responsible for maintaining day-to-day financial operations. By striking a balance between these two critical functions, organizations can navigate the complexities of ERP implementation with confidence, ensuring a seamless transition and positioning themselves for long-term success and growth. Our extensive network of finance and accounting consultants are readily available to help you navigate any function you need during an ERP implementation. Contact us today to learn more!

Workday stands as a leading cloud-based Enterprise Resource Planning (ERP) solution, revolutionizing core business activities for organizations worldwide since its inception in 2005. Renowned for its seamless integration of Human Capital Management (HCM) and Financial modules, Workday streamlines essential workflows such as HR, Payroll, and Finance. By offering a comprehensive suite of tools accessible via the cloud, it also empowers businesses with agility, scalability, and real-time insights. Workday's user-friendly interface and innovative features facilitate efficient management of personnel, financial resources, and operational processes, making it a preferred choice for enterprises seeking to enhance productivity and drive growth. Workday 2024 R1 - Spring Update Workday recently unveiled its latest biannual feature release, Workday 2024 R1. This Workday spring update brings forth a plethora of enhancements across its Human Capital Management (HCM) and Financial modules, promising to streamline operations and elevate the user experience. Human Capital Management Updates Streamlined Benefit Billing Status: Employees facing insufficient funds to cover their benefit costs can now have their billing status designated within Workday, ensuring smoother management of benefits programs. Enhanced Communication Cards: Benefit program communication cards, enriched with job details, can now be effortlessly created within the Workday platform. Improved Compensation Element Selection: A new prompt for compensation element selection aims to enhance task performance by returning only the specified category of compensation elements, thereby improving speed and efficiency. Flexible Leave Configurations: End users can now configure leave types and time-offs to impact step progression and assign grace periods to steps, offering more flexibility in managing employee leaves. Refined Hire Employee Interface: Customers can opt-in for a redesigned Hire Employee user interface, promising a more intuitive and user-friendly experience for onboarding processes. Configurable Workflows and Approvals: Numerous improvements in the hire business process enable the configuration of workflows and approvals for creating or editing job profiles, ensuring seamless management of hiring processes. Enhanced Pre-hire Information: Pre-hire contact information fields can now be configured as required for all users or specific security groups, ensuring that employees receive crucial information promptly upon joining. Transparent Consent Preferences: Consent preferences can now be requested from resources for the processing of their personal data, offering a transparent and compliant approach to data management. Talent Management Innovations: The introduction of the Paradox AI chatbot for external career sites enables external candidates to engage in conversations, receive job suggestions, and gain assistance during the application process. Recruitment Event Management: Workday now allows the creation and management of virtual, in-person, and hybrid recruiting events, enhancing candidate engagement and recruitment processes. Financial Updates Streamlined Review Processes: Users can now configure one or multiple review steps in the Accounting Center Summarization Event Business Process, allowing for efficient approval or denial of accounting center summary journals before posting to the ledger. Refined Budget Rules Functionality: Enhancements to Revenue Driven Budget Rules include the definition of floors and ceilings for budget spending authority, offering more control over budget management. Intelligent Machine Learning Recommendations: Intelligent prompts are provided for various financial processes, including sales items, expense items, and tax attributes, leveraging machine learning to streamline operations. Extended Remittance Framework: The remittance framework has been extended to support the creation of remittance advice for third-party payroll payments and supplier invoice payments in PDF format. Enhanced Bank Account Validation: The Payee Bank Account Validation Override task has been enhanced to offer new configurability for bank account types, ensuring compliance with country-specific requirements. Improved Cost Reimbursable Spend Management: Users can now change the status of cost-reimbursable spend lines outside award dates, simplifying billing processes and eliminating the need for workarounds. Adaptive Planning Enhancements: The introduction of 'what if' scenarios enables users to change test data without affecting plan versions, while a predictive forecaster powered by machine learning facilitates the scheduling and sharing of reports seamlessly. The Future of Workday The Workday 2024 R1 release brings a host of enhancements across its HCM and Financial modules, aimed at empowering organizations with greater flexibility, efficiency, and control over their business processes. With streamlined workflows, enhanced user interfaces, and intelligent recommendations, Workday continues to solidify its position as a leading cloud-based ERP solution for modern enterprises. As a trusted Workday Services Partner, BGSF has a proven track record of providing exceptional talent to Workday customers nationwide. With an in-depth knowledge of the Workday product, our resources and consultants are readily available to assist customers whenever they require support, including feature adoption, business transformation, staff augmentation, permanent placement, post-production support, and Phase X projects. Need highly skilled Workday talent now? It’s time to partner with BGSF. Contact us today!

As the vibrant colors of spring begin to bloom, it's the perfect time for residents in multifamily living communities to come together and embrace the season of renewal. Community events and engagement activities not only foster a sense of belonging but also create a lively and enriching living experience. In this Spring edition, we'll explore a variety of exciting events and engagement ideas to help make your multifamily community blossom. Spring Community Events Blooming Gardens and Green Initiatives: Organize a community garden project where residents can come together to plant flowers, herbs, or vegetables. Host a gardening workshop to share tips on sustainable practices, composting, and eco-friendly landscaping. Spring Cleaning Community Swap: Arrange a community-wide spring cleaning event where residents can swap gently used items, promoting sustainability and fostering a sense of community sharing. Partner with local charities to donate any unclaimed items, contributing to a good cause. Picnic in the Park: Set up a community picnic in a nearby park to celebrate the arrival of spring. Encourage residents to bring their favorite dishes to share, creating a potluck-style event that showcases the diverse culinary talents within the community. Fitness and Wellness Challenges: Launch a spring fitness challenge with activities like group walks, yoga sessions, or even a friendly competition to encourage residents to stay active. Collaborate with local fitness instructors for special outdoor classes or wellness workshops. Art in the Park: Host an art festival in a community space or nearby park, featuring local artists and craftsmen. Organize art workshops for residents, providing an opportunity for them to express their creativity and contribute to a collaborative community art project. Seasonal Home Decor Contest: Initiate a spring-themed home decor contest, where residents can showcase their creativity in decorating balconies or entryways. Have a panel of judges or let the community vote for the most impressive displays, with small prizes for the winners. Community Volunteer Day: Plan a day of community service, partnering with local charities or environmental organizations. Engage residents in activities like neighborhood cleanups, tree planting, or assisting local shelters, fostering a sense of community responsibility. Outdoor Movie Night Under the Stars: Set up an outdoor movie night featuring a family-friendly film. Provide blankets, popcorn, and refreshments for a cozy evening under the stars. Spring Is in the Air Spring is a time of renewal and growth, making it the perfect season for multifamily living communities to come together and foster connections. By organizing diverse and engaging events, residents can build a strong sense of community, creating memories that will last well beyond the season. Embrace the spirit of spring and watch your multifamily community flourish. BGSF is here to assist property managers as they prepare for spring maintenance and events. Make sure you have a full staff ready to go! Contact us today to get ahead of the hiring game this season.

The dynamic relationship between construction costs and property management is crucial to understand, as it directly influences the profitability and sustainability of Commercial Real Estate (CRE) investments. And as construction costs continue to soar, CRE property managers find themselves facing a new set of challenges. Understanding the Construction Costs Surge A myriad of factors are contributing to the escalation of costs in the construction industry. These factors include increased demand for raw materials, supply chain disruptions, regulatory changes, and a shortage of skilled labor. Let's explore the repercussions of the increase in construction expenses on CRE property management and dive into strategies that may help navigate these challenges. Impact on Property Valuation: One of the immediate impacts of rising construction costs is the effect on property valuation. As construction expenses soar, the cost approach to property valuation becomes more challenging. Property managers must carefully reassess and adjust valuations to ensure accurate financial reporting and maintain the attractiveness of their portfolio to potential investors. Renovation and Retrofitting Challenges: For existing properties requiring renovations or retrofitting, the rise in construction costs poses a dilemma for property managers. Budgets allocated for updates and improvements may now fall short, necessitating a reassessment of priorities. Managers must weigh the cost-benefit analysis of upgrades, potentially deferring non-essential projects while focusing on initiatives that promise a higher return on investment. Impact on New Developments: For property managers overseeing new developments, the surge in construction costs translates into increased project budgets and, subsequently, higher rental rates. The challenge lies in striking a delicate balance between delivering quality spaces and ensuring the financial viability of the project. As construction expenses soar, property managers may need to recalibrate their leasing strategies and explore innovative financing options to maintain competitiveness in the market. Lease Negotiations and Rent Adjustments: As construction costs rise, property managers may find themselves needing to negotiate lease terms with tenants. Adjusting rents to reflect the increased expenses becomes a delicate balancing act. Transparent communication with tenants about the necessity of adjustments is essential to maintaining positive relationships and ensuring the financial viability of the property. Operational Costs and Maintenance: Beyond development projects, property managers also face challenges in managing the day-to-day operational costs of existing properties. Routine maintenance and repairs become more expensive, impacting budgets and potentially affecting the overall profitability of the property. Managers must carefully allocate resources and explore cost-effective maintenance strategies to offset these rising expenses. Partnering with a staffing service provider, such as BGSF, can help alleviate these costs. BGSF allows property managers to scale their workforce up or down based on immediate needs. This flexibility enables them to reduce costs during periods of low occupancy, preventing unnecessary expenses while maintaining the ability to ramp up quickly when demand increases. Technology Integration for Efficiency: In the face of escalating construction costs, property managers can leverage technology to enhance operational efficiency. Implementing smart building technologies, predictive maintenance systems, and energy-efficient solutions can help optimize operational costs and mitigate the impact of rising construction expenses. Sustainability Considerations: As the construction industry grapples with cost challenges, there is an opportunity for CRE property managers to integrate sustainable practices into their management strategies. Sustainable building practices, energy-efficient technologies, and green certifications can not only contribute to environmental conservation but also yield long-term operational cost savings, thereby offsetting the impact of rising construction costs. Facing the Construction Cost Challenge The surge in construction costs poses a multifaceted challenge for CRE property managers, requiring a strategic and adaptive approach. By understanding the impact on property valuation, lease negotiations, and operational costs, property managers can proactively navigate these challenges. Embracing technology for efficiency and maintaining open communication with stakeholders will be key in ensuring the long-term success and resilience of CRE property management in the face of an ever-changing economic landscape. BGSF: Your Commercial Real Estate Staffing Partner Dealing with high construction costs can significantly impact a property's budget, priorities, and capabilities. However, with a skilled team in place, when you need it, property managers can focus on delivering exceptional service, ultimately enhancing tenant satisfaction and helping to attract new occupants. Contact us to request talent today!

As the vibrant colors of spring unfold, property managers in both the Multifamily and Commercial Real Estate sectors have a unique opportunity to usher in positive change. Embracing energy-efficient upgrades not only aligns with many environmental goals but also holds the potential for substantial long-term savings. In this blog, we'll explore tailored energy-savings approaches for both Multifamily and Commercial properties, ensuring a sustainable and cost-effective future. Energy-Efficient Upgrades Energy-efficient upgrades enhance the overall appeal and value of properties, attracting environmentally conscious residents and tenants, reducing operational costs, and fostering a sense of community responsibility. In an era where sustainability is not just a buzzword but a collective commitment, energy-efficient property upgrades stand as a tangible and impactful contribution toward a greener, more sustainable future. Multifamily Properties Smart Lighting Solutions: Illuminate your Multifamily property with energy-efficient LED lighting. Beyond the obvious cost savings, these bulbs last longer and contribute to a safer and more vibrant community. Smart lighting systems can also automate usage, ensuring lights are only on when necessary, and common areas are well-lit for residents. Community Solar Initiatives: Take advantage of spring's abundant sunlight by considering community solar projects. Installing solar panels on shared spaces or rooftops can generate clean energy that benefits all residents. This communal approach not only promotes sustainability but also fosters a sense of shared responsibility. Appliance Upgrades: Upgrading common area appliances to Energy Star certified models is a small change with a significant impact. From energy-efficient refrigerators to high-performance HVAC systems, these upgrades not only reduce utility costs but also enhance the overall appeal of your property. Energy-Efficient Windows: Implementing energy-efficient windows in Multifamily properties is a strategic and impactful step towards enhancing both sustainability and resident comfort. Energy-efficient windows are designed with advanced insulation materials and coatings that minimize heat transfer, effectively reducing the need for excessive heating or cooling. This not only leads to significant cost savings on energy bills but also contributes to a reduced environmental footprint. Beyond the financial benefits, energy-efficient windows also contribute to a more comfortable and enjoyable living environment for residents. Commercial Real Estate Properties Intelligent Building Management Systems (BMS): Implementing BMS allows for centralized control and monitoring of various building systems, optimizing energy use. From HVAC to lighting and security systems, BMS enables real-time adjustments based on occupancy and usage patterns, ensuring efficient resource allocation throughout your property. High-Efficiency HVAC Systems: Upgrade HVAC systems to high-efficiency models, which is particularly important for larger Commercial spaces. Spring is an ideal time for this transition, ensuring optimal performance during warmer months. Consider incorporating smart thermostats to further enhance energy management. Green Roof and Façade Systems: Transform your Commercial property into an eco-friendly oasis by installing green roofs and façade systems. Not only do these upgrades improve insulation and energy efficiency, but they also contribute to a healthier work environment. Green spaces can boost employee well-being and productivity as well. Water-Conserving Technologies: Integrate water-saving technologies, such as smart irrigation systems and low-flow fixtures, to minimize water wastage. Consider implementing rainwater harvesting systems for non-potable uses. Water conservation not only aligns with sustainability goals but also addresses a crucial aspect of responsible property management. Sustainable Upgrades for the Future Spring symbolizes renewal and growth, making it the perfect season for property managers in both Multifamily and Commercial Real Estate to embark on energy-efficient upgrades. Whether it's embracing solar solutions, optimizing lighting, or implementing intelligent building systems, the benefits extend beyond cost savings to contribute to a more sustainable and resilient future. This spring, let your properties bloom with eco-friendly innovations, setting a positive example for the entire industry. Looking for extra staff to support your sustainability efforts and upgrades? We have skilled talent readily available to support you! Click here to contact us today.

New PropTech technologies are continuously emerging in the Real Estate market, promising to reshape the industry and elevate operational efficiency. These cutting-edge solutions encompass a diverse range of innovations, from AI-powered property management platforms to blockchain-enabled smart contracts for secure and transparent transactions. One of these new powerful property management platforms is Yardi, a game-changer for many organizations looking to streamline their operations and enhance efficiency. Yardi: A Game Changer Yardi stands as a preeminent force in property management software, offering a comprehensive suite of solutions designed to optimize and streamline operations. Renowned for its versatility, Yardi provides a unified platform that encompasses property accounting, asset management, and investment management, catering to a diverse range of real estate portfolios. Its robust features include financial management tools, lease management capabilities, and business intelligence analytics, empowering users with the insights needed to make informed decisions. Also, Yardi's cloud-based infrastructure facilitates seamless collaboration and real-time data access, promoting efficiency in property management workflows. As a leader in PropTech, Yardi continues to evolve, incorporating innovative technologies to meet the growing needs of the real estate industry. This makes Yardi a trusted choice for organizations seeking a sophisticated and integrated solution to navigate modern property management. Implementing Yardi The key to a successful Yardi implementation lies not just in the software itself, but in the expertise of those tasked with its deployment. This is where the decision to enlist the services of outside vendors becomes paramount. Let's explore the compelling reasons why organizations would turn to external experts for Yardi implementation rather than attempting to complete the process in-house. Specialized Knowledge and Expertise: Yardi is a robust and multifaceted platform, offering a wide array of features to meet the diverse needs of real estate professionals. An outside vendor specializing in Yardi implementation brings a wealth of knowledge and expertise to the table. These professionals are well-versed in the intricacies of the software, ensuring a smoother and more efficient deployment. Customization Tailored to Your Needs: Real estate businesses often have unique requirements and workflows. Implementing Yardi effectively involves tailoring the software to align seamlessly with these specific needs. External vendors, with their experience across various real estate scenarios, can provide a high level of customization, ensuring that Yardi becomes a powerful asset rather than a one-size-fits-all solution. Faster Implementation Timelines: Time is of the essence in the fast-paced world of real estate. Outside vendors, armed with their specialized skills and experience, can expedite the implementation process. Their familiarity with common challenges and potential roadblocks allows for proactive problem-solving, resulting in quicker deployment and minimal disruptions to daily operations. Risk Mitigation: Yardi implementation is a substantial investment, and the stakes are high. External vendors bring a level of risk mitigation to the table, drawing from their experiences with various clients and projects. Their ability to foresee potential challenges and address them preemptively helps safeguard the organization from costly setbacks. Training and Support: Once Yardi is up and running, effective training is crucial for maximizing its potential. External vendors not only implement the software but also provide comprehensive training programs for your team. Moreover, their ongoing support ensures that any issues are addressed promptly, minimizing downtime and maximizing the return on investment. Cost-Effective Solutions: While there is an initial investment in hiring an outside vendor, the long-term benefits often outweigh the costs. A professionally executed Yardi implementation leads to increased operational efficiency, reduced errors, and improved decision-making. These factors contribute to long-term cost savings and a higher return on investment. BGSF: Your Implementation Partner In the realm of real estate management, the decision to implement Yardi is a strategic move toward efficiency and growth. However, to unlock the full potential of this powerful software, organizations should seriously consider partnering with external vendors. The specialized knowledge, customization capabilities, and risk mitigation offered by these experts can make the difference between a Yardi implementation that merely meets the status quo and one that propels your business to new heights. BGSF specializes in providing top-notch staffing and managed solutions tailored to the unique needs of the Commercial Real Estate and Multifamily industries. Our team of professionals is dedicated to helping you navigate the ever-evolving landscape of real estate technology, ensuring that you stay ahead of the curve and achieve your business goals. Click here to contact us today!