CFO, Trudy Edenfield Discusses the Importance of Having an MSP That Understands the CRE Back Office
This week, we talked to Trudy Edenfield, Chief Financial Officer of 5Q, about how 5Q’s shared services team is uniquely designed to accommodate the back office needs of commercial real estate organizations.
One of the primary benefits of having a managed services provider that is structured to support the back office, billing, and invoicing needs of commercial real estate organizations is that it allows these organizations to focus on their core business activities, rather than being bogged down by administrative tasks. By working with a partner that understands the importance and how to bill to the corporate vs property level and adhere to nomenclature required by clients on bills and invoices, commercial real estate organizations can free up their internal resources to focus on revenue-generating activities, such as developing and managing properties, securing new tenants, and negotiating leases instead of having to take the time to bill the properties themselves.
In addition to freeing up internal resources, having an MSP that understands your back office requirements can save significant amounts of time and money by streamlining their billing processes, reduce errors, and allow them close out each month much faster.
Another key benefit of having a managed services provider and cyber security provider that is structured to support the back office, billing, and invoicing needs of commercial real estate organizations is the increased level of security and protection that they can provide. In today’s digital age, cyber threats are becoming increasingly sophisticated and frequent, making it more important than ever for commercial real estate organizations to prioritize their cyber security efforts.
By working with a managed services provider and cyber security provider that is experienced in working with commercial real estate organizations, these organizations can benefit from the latest technology and security practices, without having to invest in expensive in-house resources. This can help to protect commercial real estate organizations from costly cyber-attacks, such as ransomware, which can have devastating consequences for businesses of all sizes. In addition to providing protection against cyber threats, a well-structured managed services provider can also help to streamline and optimize business processes, reducing costs and increasing efficiency.
At 5Q, we understand the unique needs and challenges faced by commercial real estate organizations, and we have developed a range of services to support these organizations in achieving their business goals. Our managed services and cyber security solutions are designed to provide comprehensive support for commercial real estate organizations, while also ensuring that they never have to worry about the legal, financial, and other back office needs.
Our team of experienced professionals is dedicated to delivering high-quality services and solutions that meet the unique needs of each of our clients. We work closely with our clients to understand their goals and objectives, and we deliver solutions to help them achieve these goals.
To learn more about how 5Q can contribute to your technology and cyber security initiatives, visit 5qcloud.com or email us at email@example.com