Black Friday, Amazon and What Multifamily Owners Can Learn

On Black Friday, more than 103 million Americans went online to buy, outnumbering in-store shoppers for the first time according to the National Retail Federation.

Amazon accounted for more than 30 percent of spending on Black Friday through “Cyber Monday.”

In yet another sign of how incredibly powerful Amazon has become, particularly around this time of year, 43 percent of consumers said they would make more than half of their holiday purchases this season on the site, according to a survey from Astound Commerce.

amazon-centersHow did Amazon become so dominant?

Amazon’s story has been about scale and efficiency. According to PiperJaffray, the company now has a warehouse or delivery station within 20 miles of 44 percent of the U.S. population.  They also make excellent use of technology and data.

Amazon’s growth is fundamentally driven by efficiency, information and logistics, not an expansion of products, offerings, or experiences.  The next wave of commerce will bring renewed focus on combining efficiency with superior customer service.

Multifamily owners need to learn from Amazon or they will become like the many dying brick-and-mortar retailers in the marketplace.

How do you improve efficiency, get better information and give better service?

Ascent Multifamily Accounting is an expert in these areas, due to the improved efficiency and client experience with outsourced accounting services.

Units Magazine published a story about the rising trend in outsourced accounting for multifamily property owners and management firms. The article noted important trends experts are seeing in outsourced accounting, including:

  • The capital and time saved by outsourcing tactical functions in accounting can be spent on more strategic initiatives
  • Better utilization of technology, better reporting, better analysis
  • Flexibility and avoiding excess payroll when you buy or sell properties
  • Financial savings from 30 to 60 percent

Outsourced accounting is one of the top ways to save on your staffing budget and office space while contributing to the bottom line. You’ll maintain control of your properties and have access to each one’s accounting and finances in real time.

In the last six months, our firm has started working with clients from Los Angeles, Philadelphia, Dallas, Houston and Colorado.  Units Magazine article said outsourcing is a trend that is going to quadruple in the next few years.  You can read testimonials from multifamily owners on their experiences with outsourcing here on our website.outsourced-accounting

You can also download our free white paper entitled “Is Outsourcing Right for You?” to find out more about this important business function.

I look forward to talking with you to determine if outsourced accounting can help improve your bottom line.

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