Investing in the wellbeing of girls and women is among the best choices that a country can make. According to the United States Agency for International Development, when 10 percent more girls go to school, a country’s GDP increases on average by 3 percent. Additionally, countries where women hold at least 30 percent of political seats are demonstrably more inclusive, egalitarian and democratic. The benefits of female-centered investments are also tactile. The United Nation’s Food and Agricultural Organization found that when equipping female farmers with the same access to land, tech, and capital as men, crop yields increased by as much as 30 percent. That 30 percent boost can reduce the number of hungry people by 150 million. Women’s advocacy has social and economic benefits. The Corporate Social Responsibility (CSR) department of Yardi Pune participates in many partner projects in socio-economically disadvantaged neighborhoods. Women and girls are the target beneficiaries of most projects. The initiatives reflect gender advocacy in the context of health, sanitation, education and income generation. BSSK + Yardi support higher education for girls Selecting a college and completing courses can be a tough choice. For many low-income families in Pune, financial struggles are exacerbated by social pressure. The Yardi Pune CSR and Bharatiya Samaj Seva Kendra (BSSK) collaboration results in scholarships for 40 girls who dare to pursue a college education. What sets BSSK apart from other scholarship programs is that it is structured to help girls overcome social pressures that would dissuade them from self-advocacy and education. The project implements programs to counter the family and community pressures girls often face. Their parents also sign an agreement that they will not hinder their daughter’s education. Once the agreement is in place and prior to college admission, the selected student receives an aptitude test and career counselling to help her select suitable courses. Scholarships then address admission fees and tuition so that she can focus on her education. “Most of these girls are first generation college graduates in their family and are challenging the regressive social norms in family and community through their hard work,” says Dipanwita Sengupta, senior executive, CSR at Yardi Pune. MASUM + Yardi demonstrate that supported girls support other girls The Yardi Pune and Mahila Sarvangeen Utkarsh Mandal (MASUM) collaboration explores the intersection of education, physical wellbeing and leadership. The program supports 35 girls and young women from 25 villages around Pune. “These villages have limited access to schools and colleges, and often regressive views on girls’ education and career development which are addressed through this fellowship program,” says Sengupta. Through the fellowship, participants receive guidance on their higher education plans. They are also given support and access to extracurricular activities such as outdoor sports. Since such practices are uncommon in their communities, the program counsels girls’ families on the benefits of education, physical fitness and team sports if required. During the program, participants are encouraged to develop their leadership skills. Recently, the 35 original participants learned volleyball. They then gathered about 150 girls from their respective villages for a volleyball competition. The event showcased the cascade effect of the program: supported girls support other girls. It was a fun and empowering event for all. Yardi empowers intermediaries for health and safety Yardi Pune CSR worked with local health officials to identify approximately 2,000 women from 226 slum pockets. Each woman demonstrated leadership potential, which was further developed as she stepped into intermediary roles between community and government. The women received education on how to help improve sanitation conditions of their locality. They then monitored the community toilets in their locality, met regularly to build community consensus for common decisions, and contacted elected representatives and officials for information and services. Through this process, many of them are developing their potential as community leaders. FPAI Pune + Yardi help to build healthier families Family Planning Association of India (FPAI) Pune and Yardi Pune CSR are working together to build...

The Yardi Advanced Solutions Conference, which began as two annual events in the U.S. and expanded to encompass six events on four continents, will soon continue its two-decade tradition of helping clients maximize the value of their Yardi software. ”The reason I enjoy YASC is to see new product developments and to understand how other corporations are using the platform,” said Katerina Urquhart of London-based M&G Real Estate, who attended YASC Europe in 2019. “I was able to take classes on the newest products, ask questions on topics I didn’t fully understand and dig into things that interest me,” Marcie Trivette of Fore Property in Las Vegas said last year. “No matter how big or small, every client has a voice with Yardi, and these sessions are great ways to reinforce that,” an executive director with Laramar Communities LLC of Greenwood Village, Colo., noted back in 2010. Last year’s presentations were different, of course. All YASC events were combined into YASC Digital and YASC Global, virtual experiences with a full slate of free on-demand classes, social activities and gala entertainment. YASC Global in October drew more than 20,000 attendees and featured an exclusive performance from internationally acclaimed Icelandic band Of Monsters And Men. With every view triggering a donation from Yardi, the event earned $75,000 for charities. A two-time Grammy Award-winning performer is on tap for the May conference and Yardi again will make a donation for every attendee viewing the show. The next edition of YASC Global happens May 18-20, with 280-plus classes on the latest software innovations for property owners, asset managers, real estate investment managers and others working in commercial, residential, PHA, senior living and other real estate markets. Live chat support will also be available. YASC Global participants can also look forward to social media interaction, daily giveaways, networking opportunities and entertainment. All Yardi clients are automatically enrolled in the conference. “This is the era of continuous connection. But in the world of business, continuous connection hasn’t fully come to fruition. Our goal is to make that happen and provide the tools and technologies that you need,” company president and founder Anant Yardi told 2,500 Yardi clients and staff members who gathered in San Diego for YASC in 2019. Two years later, in vastly different circumstances, that remains the purpose of YASC. Learn more about the benefits Yardi’s global client base gains from this...

Implementing IFRS 16 lease accounting standards is a daunting task as it requires adhering to new policies, adopting new measures, and changing existing processes. As per the new lease accounting standards, assets and liabilities need to be recognized by lessees in the balance sheet. The aim is to make reporting more transparent and allow companies to ascertain the nature of lease transactions. Transitioning to lease accounting software will help your business achieve compliance without hassle. A lease accounting software is a great tool to do calculations, produce journal entries and automate reporting compliant with the new IFRS 16 standards.  The selection and implementation process for a software can be a time-consuming endeavor. There are, however, certain criteria businesses can investigate to determine the best lease accounting software for their needs. You should be clear on the software’s data gathering and reporting capabilities, its cost-effectiveness, and the different benefits you will enjoy after the successful implementation of the software.  Here are some of the features you should look for when reviewing lease accounting software providers. Compliance with IFRS disclosure requirements There are many software solutions on the market promising different sets of features to ease IFRS 16 implementation. However, you must choose a software that helps in meeting all disclosure requirements.  The new standards demand more disclosures in the form of right-of-use assets, interest expenses, and information regarding the outflow of leases. A good lease accounting software should develop all disclosure reports as and when the company needs them.  Look for maximum accuracy and flexibility of the software solution IFRS 16 standards are very complex. A manual fixing of such complexities would take a lot of time, resources and may lead to errors. To prevent this, software solutions should have configurations that support data features that make the process easy.  A company generally has a large lease portfolio. To maintain accuracy after every change operated by different stakeholders, internal control needs support. An advanced lease accounting software solution will help with the data entry validation mechanism and provide role-based access for optimal results. A centralized data repository for easy collaboration A large amount of lease data is one of the most difficult things to handle by account managers. A lease management software solution with a centralized data repository will not only save time but money, as well. It makes it easy for employees of different departments to access the information on the platform.  Additionally, access should be granted to only those who need it, with complex data security protocols and security standards. Notifications and alerts are key As mentioned before, the lease portfolios of some companies are large. Thus, manually managing each facet of the contracts is a tedious task. It may include payment dates, renewals, events, etc. With lease software solutions, you can send automated notifications and get alerts for every important date or event in your lease contracts. Making the transition to new standards takes time and effort. But it can be done at ease with a powerful lease accounting software solution and the right support. COROM Lease Management from Yardi is a great lease accounting software solution that can help you implement IFRS 16 standards. Visit www.yardicorom.com for more...

The framework for learning starts before a student ever sits down at a desk. Stability in the family, a safe home and nutritious meals are the building blocks for learning. In Irving, Texas children battle the odds and graduate without all of the blocks. Irving Schools Foundation is helping them to succeed. Speaking for children who can’t speak up for themselves Crystal Scanio, the president and CEO of Irving Schools Foundation, has wanted to be a child advocate since she was a kid. Scanio grew up in Indonesia as an expat. She recalls neighborhoods of children who did not attend school because they could not afford uniforms. “I vividly remember driving through the village in our nice comfy school bus on our way to learn,” she reflects. “We’d see all the children sitting outside of their modest houses looking at us with such envy in their eyes.” “Even as a small child, I knew that this was not fair and education should be something that everyone has access to if they have the desire to learn,” she says. She later witnessed a woman holding her baby whose arms and legs were severely mangled. “My teacher told me that the mother did that to the baby because she knew that she could garner more money for her children from people driving by if she was standing on the side of the road with a baby that had broken limbs.” Scanio’s heart sank. “From that moment I knew that I wanted to serve in a capacity where I could be an advocate for children that couldn’t speak up for themselves.” After graduating college, Scanio intended to move to a developing nation and help children there. As she learned that American children also faced dire situations, she’d opted to stay Stateside. A circuitous path led her to Irving Schools Foundation where she has advocated for children since 2012. Bridging the gap In most school districts, there is a broad gap between what the District provide from tax dollars and what schools need. Many Districts have formed foundations to bridge that gap. The Irving Schools Foundation is one of the oldest in the US. It was established in 1985 when the demographics were quite different: back then, only 12% of students required free or reduced lunch. Today, it’s 100% of students. Serving a low-income, high-risk population comes with its fair share of challenges, but there are also uplifting surprises. “If you were to simply look at the demographics of our children or hear some of the stories that they share about their home lives– abuse, sex trafficking, drugs–one would assume that these kids would not excel at school,” observes Scanio. “However, our test scores are above state averages and our graduation rates are over 95%. It’s due to the fact that these children know that education is the key for them to get out of their situation,” she says. When Irving Schools Foundation began, its goal was to support teachers with additional training and supplies. The mission has grew to include college scholarships, but some kids never claimed them. They needed to stay home and care for younger siblings, or work to support their families. The program expanded again to include food security, housing, social and emotional health programs. “The results have been incredible to watch,” says Scanio. “Our students have flourished and our claim rate on our scholarships is now over 90%!” Adapting to changing needs during the pandemic The pandemic has had a major impact on the students of Irving District.  Many of them come from homes with an average income less than $25,000 per year. Many students already had jobs to help support their families, but during the pandemic others began searching for work. Still, students faced with food insecurity and homelessness on a regular basis. Many kids relied on the District for food during the week. When schools closed,...

The investment world historically has been an industry filled with spreadsheet reports and snail mail paper checks. Errors can arise when entering data in multiple spreadsheets and relying on disparate systems is inefficient , especially when sharing information between investment, investor and accounting system. Thankfully, technology is transforming investment management for real estate. Investors now expect on-demand service and self-service access to key metrics, capital transactions, important documents and reports. Having the right technology creates better value for investors, which leads to increased investor confidence. Investment management technology can improve communication, increase visibility and provide easy access to performance metrics. Top systems are mobile-friendly and available wherever, whenever access is required. Improve communication Managing the relationships with existing and prospective investors is a key part of growing any investment business and raising capital. Yardi Investment Manager provides a platform that makes communicating with investors more efficient, easier and error-free. Cohen Asset Management’s investor relations staff can log into Yardi Investment Manager and see the online tools their investors are using, deals they are involved in, contact information, returns, distributions and other information. Scott McGinness, principal and chief financial officer, shared: “By being able to deliver information when it’s needed, we don’t have to follow up with the investor later, which is easier on both parties, “ Organizations benefit from a single connected tool that helps: Centralize communications with existing and prospective investors Manage capital call and distribution notices with investors Easily send out correspondence, track activities and follow up tasks quickly Enable better collaboration with new investment opportunities Increase transparency and accuracy Yardi Investment Manager is a single source of the truth for investor and investment information. Provide access to portfolio and property metrics directly to investors. Automate the subscription agreement process for new investment opportunities with existing or prospective investors.. With an integrated solution, there is no need for disparate systems and manual transfer of data.  This allows you to provide timely access to information to your investors. By easily compiling and communicating accurate information, Yardi Investment Manager strengthens Cohen Asset Management’s investor relationships with superior service and allows the company to maintain a lean organization. Access information easily In addition to investment and property metrics, Yardi Investment Manager makes it easy to publish reports, tax documents, subscription agreements and more to investors through an online branded portal. This allows your investors access to information anytime, anywhere. And since the portal can take on your company’s personalized branding, it will offer offer a customized , highly professional experience for investors. Manage portfolios on the go Yardi Investment Manager provides access to investor and investment information on any device. It makes it easy to find and review every piece of information you need, from anywhere, so you can have informed discussions with your team and your investors on: Portfolio and investor data Risk monitoring Fundraising Capital transactions Investor communications Yardi Investment Manager is a single connected solution that brings investing partners together and instills investor confidence. Provide access to reports and detailed documentation so your investors feel an increased sense of connection and value with their partnership. Yardi Investment Manager is part of the investment suite of products, a fully-integrated platform available with Yardi Voyager, Investment Accounting or as a standalone solution. Overall, you’ll improve efficiency and boost visibility into investor activity and investment metrics, making portfolio oversight simpler than ever. Join an Investment Manager webinar to learn...

Is Hong Kong is poised for a real estate resurgence? Two years ago, Hong Kong was the world’s third largest real estate market, trailing only New York and London. The twin challenges of protests and a pandemic have taken their toll. So last week, Yardi called in the experts for their take on Hong Kong’s future. David Green-Morgan, managing director at Real Capital Analytics in Asia Pacific, Tommy Wu, lead economist for Oxford Economics in Asia, and Yardi regional director, Bernie Devine gathered for the first instalment of Yardi’s 2021 Executive Briefing Series. Here’s why they think Hong Kong real estate is ready to bounce back. The macro indicators are positive Political unrest had already damaged Hong Kong’s economy prior to Covid-19, and a 6% contraction followed in 2020, Wu told Yardi’s engaged audience. But Oxford Economics is forecasting a strong recovery, with 4% growth in 2021, and then 2.5% annually out to 2025. All the macro indicators bode well, Devine added, pointing to the vaccine rollout, slowly improving retail performance and unemployment rate, as well as the city’s strong financial governance framework, which remains a source of competitive advantage. Office’s bumpy ride is over Political protests had a greater impact on Hong Kong’s commercial office sector than the global pandemic, Wu highlighted. Office prices fell during the protests, but the market is “bottoming out” and demand is returning. Green-Morgan agreed, pointing to recent deals struck at the 73-storey skyscraper at 99 Queens Road, The Center, which were “more or less on par” with 2018 prices. “Quite a few multinationals have been shifting business functions to other key cities in Asia – like Singapore and Kuala Lumpur – but they are still keeping their offices in Hong Kong,” Wu added. Oxford Economics expects the financial sector “to continue to thrive” and the tech sector, while small, will be a powerful engine for growth. Hong Kong remains “the gateway in and out of China”. Residential remains resilient While Covid-19 hurt the labour market, and unemployment currently sits at 7%, this has not affected housing demand, Wu said. Why is this? Most participants in the housing market are in the financial and other high-paying sectors, and these weren’t hit hardest by Covid. “The real impact on Hong Kong was the protests. In fact, Covid has had hardly any impact on property prices, when you take a high-level view,” Devine observed. Will migration, especially from those who hold British National Overseas passports, affect the housing market? Wu pointed out that the bulk of these migrants are young and footloose, but not asset-rich and were unlikely to be in the market for housing. Meanwhile land supply will remain “tight – at least over the next few years,” Wu added. Risk and rewards in restructured retail Retail could take some time to recover, and Oxford Economics does not expect to see a repeat performance of the bounce back in 2003, following SARS. This marked a golden decade for retail and China’s emergence as a “major force” in tourism. “This won’t happen again,” Wu warned. More than 80% of inbound tourists hail from China, but the falling price of luxury goods in China has eroded Hong Kong’s appeal as a shopping destination. Tourism is now at a “crossroads,” Wu added. Recovery in tourist arrivals will lag other nearby cities, and this will lead to “structural change” in retail. While Hong Kong has some of the highest rents in the world, and while yields have been “incredibly low” in recent years, some investors are beginning to take a punt on the return of Chinese tourism. “This is the big unknown,” but prices are now low enough “that people are willing to take a bet,” Green-Morgan added. Hong Kong stays strong “The last two years have been a real challenge for Hong Kong, but overall investor sentiment towards the city is becoming more positive,” Green-Morgan said. Despite...

Electronic health records, or EHRs, have evolved into a necessity over the past few years in the senior living industry. In fact, a LeadingAge study in 2019 found that nearly 76% of the nation’s 200 largest nonprofit, multi-site senior living organizations use EHRs, as do the majority of single-campus senior living communities. EHRs enable care staff to chart and document residents’ medications and transitions between care settings in real time. Along with this efficiency, notes PharMerica, a pharmacy services provider for the senior living industry, senior community operators “are finding that EHR can help do things like boost occupancy and profitability. And vendors are finding easier to promote EHR benefits around greater resident engagement, streamlined workflow and reduced staff turnover.” Additional benefits of EHRs include facilitating Medicare and Medicaid reimbursements and ensuring compliance. Interoperability is crucial There’s yet another dimension to EHRs. Senior Housing News reports that some providers adopting EHRs “are actually going a step further to connect those EHRs to larger networks in the interest of electronically sharing information with doctors, hospitals or other clinicians.” Making such exchanges securely across multiple systems requires connection to a service provider for health information exchanges, or HIEs. “It’s only a matter of time before mounting state and federal pressure to connect EHRs to HIEs becomes too difficult for senior living providers to ignore,” the news source reports. Some in the industry are still playing catch-up. Clinical information is still often shared via fax, phone or printouts, opening the door to mistakes and omissions. And patients often receive paper medical records when they are discharged, creating additional opportunities for documentation errors and impeded care coordination. “The COVID-19 pandemic has amplified the importance of interoperability and the ease in which clinical information needs to be available to an entire healthcare community,” says Jon Elwell, CEO of Scottsdale, Ariz. interoperability provider Kno2. “We cannot rely on paper fax for this important task.” Creating seamless transitions Going forward, the need for interoperability among acute care, private practice, skilled nursing and other healthcare partners will spur the development additional for care transition and coordination. That means “seamless care transitions and sharing of critical patient information between the senior living community and the providers participating in their care, improving coordination and reducing administrative burden from a historically manual process,” Elwell says. Once implemented, this interoperability will spur “increased efficiency and quality outcomes, improved ability to avoid adverse events and timely access to information from your patients’ other providers,” according to the Minnesota Department of Health. “Creating shared care plans and following up on the execution of those plans to optimize outcomes, reduce length of stay, or eliminate unnecessary hospital admissions via HIE will be key,” adds Majd Alwan, senior vice president of technology and executive director of the LeadingAge Center for Aging Services Technologies, an advocate for technologies that improve the aging experience. Yardi’s contribution to EHR interoperability includes a partnership with Kno2®, whose Interoperability as a Service™ drives connectivity for health data networks. Interoperability as a Service’s integration with Yardi EHR lets Yardi clients electronically send and receive health data, ensuring safer clinical care transitions. Look to The Balance Sheet for more updates on the continuing evolution of EHR capabilities, which PharMerica says have the potential to “revolutionize the way seniors are treated and cared for in the years to come.” For more on Yardi’s electronic health record solution for senior living, visit the Yardi EHR product...