19NOVEMBER 2019them in better articulating the value of their properties, and expand their business. "We deliver a great financial structure on an institutional level and ensure the accuracy of their budget to help real estate startups raise equity and attract investors," explains Weinberger.The company's financial services also include invoice analysis for accounts payable processes. Simultaneously, Terra provides enhanced visibility and control of operations to real estate businesses and owner-operators with its value-added applications that include online and mobile tools for purchasing and rent management. "We utilize intelligent processes and our proprietary software to anticipate and avoid recurring complications in the management of real estate properties," mentions Weinberger.Simplifying Convoluted Financial TasksIn terms of accounts payable, Terra handles all the tax bills, escrows, and insurance policies, thereby offering real estate organizations the ability to review and control the dispersion of funds to prevent overpayment. "We maintain healthy communication with vendors by keeping them up-to-date on the status of their payment to ensure timely compensation for the services," adds Gruman. From an accounts receivable perspective, the company makes sure that every transaction on a client ledger Is sufficiently backed up and accurate before delivering a monthly financial statement that is tailor-made for every client's specific needs. Additionally, with the team's expertise in the financial and real estate industry, Terra effectively analyzes the market data and delivers the most profitable potential investment options to their clients. "We have developed a benchmark that enables us to convey the reasons behind budget variances and assist our clients in better understanding their financial posture and optimize their strategic goals," states Weinberger.Delivering Effective Training ProgramsTerra provides comprehensive training to onsite teams (including financial staff and regional managers) and administrative personnel by leveraging its partnership with YARDI, a property management web-based application. Through this collaboration with YARDI, Terra also offers online and live training sessions, along with educational meetings and webinars. From Financial Management to Business SuccessTerra's emphasis on delivering services that bolster a client's pursuit of achieving organizational goals is at the heart of its competencies in the real estate industry. A case in point is Terra's success story with a client that was struggling to maintain their financial books even after hiring a CFO and a dedicated financial operations team. By implementing Terra's solution, the client was able to triple the size of their portfolio in a short period and raise equity to attract bigger investors. Joel Weinberger, CEOIn another instance, Terra assisted a client in providing financial statements of their property to investors by offering all-inclusive financial management services. Initially, due to the lack of a robust financial back-office, the client was experiencing difficulty in providing the necessary financial checks and balances to their investor. With Terra, the client was able to train their on-site manager and efficiently organize the administrative personnel, thereby attracting bigger investors. "Shortly after the partnership, the client successfully refinanced their property and invested in another large real estate project; going from financial turmoil to hefty investment-led business expansion," states Gruman.Developing the Next Generation of Real Estate SuccessToday, owing to its extensive clientele in the multi-family and commercial real estate space across the U.S. and ability to carry out various client requisites, Terra has earned the moniker of a trusted real estate financial management provider. The veracity of the company's robustness can be understood from the wide range of commercial real estate clients Terra caters to. Looking ahead, Weinberger aims to expand the capabilities of Terra's solution by incorporating leading-edge technologies, making it more proficient in handling financial books. "We want to continue developing newer processes to streamline real estate financial management, and, in turn, transform Terra into becoming the most preferred partner for real estate financial management," concludes Weinberger.
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