Essential Living, the first UK company to build and manage homes designed from the ground up for rent, has installed the Dream Financial Management software solution from Hexagon Software, the leading provider of software solutions to the property sector.
The new system will enable Essential Living to enhance the management of its growing portfolio of large-scale professionally managed rental developments which will include a pipeline of 5,000 homes across London and the South East.
Robert Hill, Finance Director at Essential Living, commented:
“We are setting out to rewrite the rules on rental by building and operating a portfolio of large-scale professionally managed rental developments whilst bringing exceptional quality, sustainability and customer service to our residents. Dream is a best of breed accounting solution that meets our immediate needs as well as providing a flexible platform for growth as the company continues to expand.”
The Dream system enhances the management and control of Essential Living’s existing and planned developments. It automates and streamlines business processes that previously required manual entries to be made from Excel-base spreadsheets providing greater consistency and efficiency. This enables reconciliations to be produced much faster and speeds up the production of management reports.
Dream also provides a sophisticated procurement solution that allows Essential Living to track project spend against budget for greater control over costs and expenditure. It streamlines the complete purchase to pay workflow cycle, particularly for development projects, with a web portal for the approval of invoices by authorised personnel and access to a comprehensive range of reports giving an instant view of all business operations.
“Hexagon worked pro-actively in partnership with our deployment team to ensure that the Dream installation process ran smoothly and was completed to meet budget requirements and project deadlines. The company has consistently demonstrated that it is a ‘safe pair of hands’ and pro-actively suggested ways to further optimise workflow processes enabling us to achieve additional operational benefits.”
Dream will also seamlessly integrate with Essential Living’s booking systems to efficiently manage its extensive range of tenant facilities including security, communal lounge areas, internal and external play spaces, exercise centres, rooftop grow gardens and spaces for barbeques along with business centres with free Wi-Fi, desks and meeting facilities.