Essential Living deploys Dream financial management system as platform for growth

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.

“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,” commented Robert Hill, Finance Director at Essential Living. “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,” continued Hill. “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.

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Hexagon Cloud is a new hosted platform for financial and property management solutions

Hexagon Software has announced the launch of Hexagon Cloud, a new hosted platform that extends access to its market-leading property management and financial accounting software. Hexagon Cloud will enable users to review or update information from core ‘back-office’ systems, such as approving invoices, entering account transactions or viewing property information from any internet-enabled location on any device.

“Hexagon Cloud will enable organisations to achieve administrative efficiencies and increase productivity whilst significantly reducing the total cost of ownership,” commented Hexagon Software. “Devolving Dream functionality to a hosted application will allow more users to access the system from any location using any internet-enabled mobile device to enhance decision-making, streamline accounting processes and help organisations to be more agile and responsive.”

Hexagon Cloud is a native cloud application that uses a microservice-based architecture to allow updates and new features to be seamlessly introduced to all customers as soon as they are released. It runs on a clustered container infrastructure providing elastic scalability and resilience enabling new customer environments to be created in minutes. OAuth authentication provides secure access to the application using existing Office365 or other social media credentials.

“With no upfront expenditure and low monthly costs per user, Hexagon Cloud delivers greater, more cost-effective access to business intelligence and workflows to strengthen organisational performance whilst eliminating the technicalities surrounding operating system, device or browser compatibility. Hexagon Cloud will also provide a platform for the next generation of LandMark, our market-leading property management software solution, and differentiates us from competitors with older, monolithic applications that require major upgrade projects to take advantage of new functionality,” added Hexagon.

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