How to save time and resources with streamlined supplier payment approvals ⏱️
Approving supplier payments is a critical yet often time-consuming task for condo corporations. Traditional workflows rely heavily on manual processes, such as physical paperwork, in-person meetings, and cheque signing. These outdated methods create bottlenecks, delays, and unnecessary costs, impacting overall efficiency and supplier relationships. When administrators are unavailable or approval chains are overly complex, the […]
From manual to digital: Why it’s time to upgrade your condo management tools 💻
For years, managing condo operations manually has been the standard—but let’s face it, that just doesn’t cut it anymore. Between stacks of paperwork and juggling outdated systems, traditional methods are a headache. They waste time, rack up costs, and slow down productivity. And condo managers often feel buried under repetitive tasks, delayed approvals, and the […]
Why effective supplier payment management is essential for condo managers 🤝
For condo managers, efficiently managing supplier payments is more than just an administrative task—it’s vital for maintaining smooth operations and resident satisfaction. Essential services like maintenance, cleaning, security, and repairs rely on timely payments to external providers. When supplier payments are delayed or poorly managed, the entire condo community may suffer disruptions in these critical […]
The hidden costs of manual payment tracking for condo corporations 💸
Managing payments manually might seem manageable for condo corporations, especially those accustomed to traditional methods. However, this approach comes with hidden costs that impact both efficiency and financial stability. Relying on spreadsheets, paper records, or basic software can seem budget-friendly at first, but these methods often lack the precision, security, and real-time insight needed for […]
5 common mistakes in condo payment management and how to fix them fast ! 🎯
Managing condo payments can be a stressful and time-consuming task for property managers. Whether it’s tracking overdue payments, dealing with unclear processes, or managing resident complaints, these challenges can quickly pile up. For condo corporations, ensuring a smooth and efficient payment system is essential to maintaining good relations with residents and keeping financial operations on […]
Managing late payments : Tips for condo managers ⏳
Late payments are a common challenge for condo managers, often causing financial strain and adding unnecessary complexity to daily operations. Without a proper system in place to handle these delays, condo corporations may face cash flow disruptions, increased administrative workload, and strained relationships with residents. Managing late payments proactively is essential to keeping operations running […]
How a payment solution can help reduce operational costs in property management 💰
In today’s condo management industry, rising operational costs are a major concern, particularly in competitive markets like Alberta and British Columbia. Property managers working with condo corporations face increasing financial pressures due to inefficiencies in payment collection, billing errors, and inconsistent cash flow. These challenges can negatively impact the bottom line, making it crucial to […]
How an integrated payment solution in property management enhances decision-making 💡
In the fast-paced property management markets of Alberta and British Columbia, particularly for strata and condo corporations, making quick, informed decisions is critical for success. However, many property managers overseeing these types of properties struggle with outdated systems that don’t provide real-time financial data, leading to delayed decisions and missed opportunities. Enter Otonom Solution, a […]
Streamline your rental payment processes in Western Canada: A guide to efficient property management 💳
Navigating the bustling real estate market in Western Canada comes with its own unique set of challenges and demands. From the sprawling metropolitan areas of Vancouver to the vibrant communities of Calgary, property managers, particularly those overseeing strata and condo corporations, face a daily battle against time and efficiency, striving to keep up with the […]
SPECIAL ARTIFICIAL INTELLIGENCE-JOURNAL FOR FRAUD PREVENTION –
The month of March, designated as Fraud Prevention Month, reminds us collectively that fraud is anything but trivial and that prevention is everyone’s business. Every year, Otonom Solution’s mission is to help its customers and partners with sound advice on payment fraud prevention. Download it Share : Partager sur facebook Facebook Partager sur twitter Twitter […]
SPECIAL PREVENTION -JOURNAL FOR FRAUD PREVENTION
The month of March, designated as Fraud Prevention Month, reminds us collectively that fraud is anything but trivial and that prevention is everyone’s business. Every year, Otonom Solution’s mission is to help its customers and partners with sound advice on payment fraud prevention. Download it Share : Partager sur facebook Facebook Partager sur twitter Twitter […]
Don’t waste any more of your time collecting rents!
As a property owner or investor, you most certainly have had to deal with challenging rent collection. Bounced cheques, closed bank accounts, undelivered cash and deposit transfers to various banks are just some of the challenges you are faced with. Do you really have time to tackle this obstacle course every month? It’s that time […]
What if we didn’t have to deal with Banks?
Let’s say it right from the start: the title is deliberately catchy because it’s not easy to imagine a world without financial institutions. So how can we cut down on time wasted by volunteer co-owners at the bank? By using automatic direct debits, of course! What is a pre-authorized payment? This type of service […]
Monthly cheques… every property manager’s nightmare
Every month, it’s the same ritual. Marie-Josée Ricard, Manager of Groupe immobilier Gescard, receives cheques that are signed in red ink or unsigned. This is an incredible waste of time for someone who manages more than 500 buildings. Marie-Josée must, therefore, contact her clients again and they promise to issue a new cheque. Around the […]