Today, CFOs and FDs in the incredibly vibrant purpose-build student accommodation sector are expected to provide strategic advice to the business.
As the sector continues to grow and consolidate on the back of several mergers and acquisitions, CEOs and investors need support from their finance leaders. They want help to and measure the business’ performance ad they also want to a granular level of access to insightful information to support complex decisions. The finance team is seen more and more as a business partner and the expectation is that the finance team will drive performance improvement initiatives.
Against this backdrop, finance leaders are under pressure to rapidly deploy new technologies, extract and deliver accurate reports, and inject more flexibility in their F&A operations to accommodate the evolving needs of a business functioning in a highly dynamic landscape.
How leading PBSA providers are transforming their F&A
In order to meet the expectations from the business, finance leaders in the PBSA sector are looking at the three Ps (People, Process and Platform) – recruit and retain
1) Property management accounting talent pool
The PBSA sector in the UK is growing every year; however, it is a small niche and a small world. Finding talented accountants who possess an in-depth understanding of the sector is difficult. Things can get quite difficult if a talented member of the F&A team
At QX, we have
In the words of Mahesh Jain, CEO – QX F&A Services: “We provide world-class services with insightful reporting and combine these with plug-and-play models that make it easy to integrate new properties into the system. This means that our clients have reliable and strong accounting support to achieve their business goals.”
Another key issue pertains to training the staff and making sure they are on the same page. Companies that buy or merge sites soon
QX’s accounting services cover 100,000+ beds spanning across 250+ sites, providing them with financial solutions modelled around their specific needs. QX functions as the central accounting hub for its clients in the sector – following the transition, we focus on
Huge volumes, large number of tenants, multiple sites, dozens of bank accounts, and a high number of suppliers make PBSA accounting complex and time consuming. In order to boost overall efficiency, improve the turnaround times, and reduce the costs of accounting operations, PBSA providers need to
QX harnesses the power of ADAM and EVE to automate a wide range of F&A functions. Leveraging Robotic Process Automation and Cognitive technologies, our solutions can automate a wide range of rules-based, repetitive, time-consuming activities. By combining automation with process
Is F&A a strategic asset for your
Strong and efficient finance departments are foundational to the success of any company in the PBSA sector. With the right people, process and platform, it is possible to significantly elevate the performance of your finance functions. To learn more about how this can be achieved, please get in touch with us.