How Technology Helps Housing Societies Save Money And Resources ?

One of the biggest and the most consistent problems housing societies face is overrunning their monthly/annual budgets and not being able to cut costs effectively due to lack of insight into new software and technology that can help with budgeting and finances. Here’s how:

Replace Expensive Security Systems With App-Based Security

Having CCTV surveillance is definitely a necessary investment these days, but you can do away with other security measures like Access Control Systems, sliding security gates which are remotely operated or perimeters and electric fences.

Investing in a monthly app subscription such as MyGate, India’s leading society management app, is the most affordable way to ensure privacy. It works on a passcode verification based system where only visitors who have received a one time password are allowed entry after being authenticated at the gate by the security guard.

It saves time as there’s no pen and paper registration, hence no congestion at the gate. It takes 5-7 seconds to finish the password verification.

Quick And Easy Accounting

Society treasurer or secretary have to spend a lot of time in maintaining general accounting ledgers, receipts, cash books, etc. They also have to perform the tedious monthly routine activity of collecting maintenance bills which is delivered in cash and cheques by a number of residents. 

Instead of spending money on disparate tools like Tally or Excel, and physical ledgers, you can simply use the embedded accounting suite in society management apps through which you can:

Create online invoices for each apartment and send unlimited email and text alerts as well as receive payments online through mobile wallets, mobile banking.

Consolidate payments, charge penalties, manage vendor, staff and utility payments all under customisable accounting categories.

This helps save resources in terms of engaging no more than one or two people who can entirely handle all of society’s annual and regular society accounting all with restricted access.

Some Special Features Include:

Quick uploadable and downloadable documents, bills, receipts, group/individual invoices

Readymade templates with GST calculations, P&L reports, and other defaulters, collection list, etc.

Admin can easily store and retrieve documents due to neatly organized and accessible sections, while in case of physical registers or different excel sheets, it becomes time consuming to look for old files and historical logs, and many hands have to be engaged when comes the time to consolidate all financial records during the time of annual audit. 

Budgeting can be done in advance with various accounting tools

Managing Complaints And Amenities Without Hiring Excessive Manpower

Society management apps have an inbuilt calendar through which residents can book their preferred slots to use the clubhouse, gym, swimming, etc. 

This saves the time of residents who don’t have to wait in line for their turn. There’s also no need to hire multiple facilities managers to handle each unit separately as everything can be handled easily by one helpdesk executive who can preconfigure the number of slots allowed per household and monitor the usage from the app. 

Complaints can be resolved in-app through raising online tickets. Instead of wasting time calling the security guard or managing committee members when there are problems with plumbing, electrical, or elevator, residents can book a complaint online which they can track as pending, open or in progress.

This saves not only everyone’s time but also servicemen don’t have to be called multiple times for consulting as all complaints are streamlined, thus solved without delays and waste of extra fees.

All in all, the most reliable way to cut down on unnecessary expenses and handle the society’s affairs with least human resources