Successfully Implementing Yardi in Eight Malls: A Story of Innovation and Collaboration
Introduction:
In the fast-paced world of real estate, staying ahead of the competition requires adaptability and the ability to meet client demands swiftly. Last year, our team faced an extraordinary challenge when one of our clients completed the acquisition of eight malls, each ranging from large to medium-sized. The client wanted all these malls integrated into the Yardi system within a month. While it seemed like an impossible task, our team embraced the challenge, leading to a successful implementation of Yardi across all eight malls. In this blog post, we will share our journey and the valuable lessons we learned along the way.
The Initial Challenge:
With the acquisition finalized in March 2021, our client set a strict deadline of April 2021 for integrating the new malls into the Yardi system. The urgency stemmed from the client’s desire for the malls to commence using Yardi at the beginning of the new financial year, ensuring a seamless transition for billings and cash flows. The timeframe presented an immense challenge that required us to think innovatively and find feasible solutions.
The Power of Innovation:
Acknowledging the seemingly insurmountable task ahead, our team embraced the power of innovation. We engaged in extensive deliberations with the client, seeking to understand their expectations and challenges while providing clear explanations of what we could achieve. Through open-mindedness and collaborative thinking, we discovered a middle ground that satisfied all stakeholders.
Phase-Wise Implementation:
To meet the tight deadlines and fulfil the client’s requirements, we devised a comprehensive implementation plan, which we referred to as “Phase-Wise Go Live.” Recognizing the need to prioritize critical functionalities, we divided the process into two distinct phases:
Phase 1 – Accounts Receivable (AR) and Leases:
Our primary focus during the initial phase was to ensure a smooth transition for billings and cash flows. By dedicating the first two weeks of April to the implementation of AR and lease functionalities, we guaranteed minimal disruption to the daily operations of the malls. This strategic approach allowed us to deliver on our promise and meet the client’s urgent timeline.
Phase 2 – Accounts Payable (AP), Fixed Assets (FA), and Annual Budget Planning (ABP):
Building upon the successful implementation of Phase 1, we continued our momentum and shifted our attention to the remaining functionalities. By targeting AP, FA, and ABP, we aimed to complete the full integration of Yardi across all eight malls by the 1st of May. This meticulous approach ensured a comprehensive implementation while maintaining efficiency and quality.
Lessons Learned:
Our journey taught us valuable lessons that we will carry forward into future endeavours. The key takeaways from this experience are:
Never Say No to a Challenge: By adopting a positive and can-do mindset, we demonstrated that even the most daunting tasks can be achieved with innovation and determination.
Embrace Innovation: The power of innovation lies in our ability to think beyond the boundaries of convention. By seeking alternative solutions and exploring new possibilities, we pave the way for success.
Effective Communication and Collaboration: Our open-mindedness and active communication with the client proved crucial in finding a middle ground that satisfied all stakeholders. Clear explanations and understanding of expectations fostered a collaborative environment.
Conclusion:
In the face of a seemingly impossible task, our team rose to the challenge and successfully implemented the Yardi system across eight malls within a month. Through innovative thinking, effective communication, and a well-planned phase-wise implementation, we surpassed expectations and delivered seamless results. This experience serves as a testament to the power of collaboration and the limitless possibilities that can be achieved when we approach challenges with determination and an open mind.
