As we approach the much anticipated release of the new Yardi Kube platform, we conducted a client-exclusive Q/A session to address a variety of topics. The response was overwhelmingly positive and we cannot wait to debut the new Yardi Kube. We will beta launch in January, and full roll-out is set for April.
Below, we’re going to summarize some of the main talking points from the recent webinar.
What are Yardi’s main changes for Yardi Kube?
It’s tough to put into words exactly the incredible extent to which Yardi is impacting our platform, but we tried to do so again in the webinar.
Dale Hersowitz, our VP of Coworking, explained that Yardi is best known for building software for the real estate industry, from commercial to multiunit to many other facets. They are now fully diving into the Coworking world with the acquisition of WUN last year.
The most important change for Yardi Kube is essentially putting together a single stack. What does that mean? Yardi has a full general ledger suite, an accounting package, they’re also a merchant, they offer a vendor procurement solution, they are an e-broker, and Yardi Kube will continue to provide the operational component to power your day to day functions of your space. No more third-party integrations. Yardi Kube will encompass 7 modules in one tightly integrated solution.
Everything in a single platform allows for greater efficiency, cost savings, prevents leakage, and enables operators to scale effectively.
Enhancements and New Features
The attendees asked several questions regarding the enhancements of the new platform.
Yardi has a robust accounting platform called Voyager. The new Yardi Kube platform will not only be integrated with Voyager, it will be an extension of that existing platform. So a full blown GL suite is a huge enhancement to the existing Yardi Kube. In-house payment processing is a major upgrade as well. No longer will you have to reconcile with third party apps like authorize.net or Stripe, for example.
Operators will now have the ability to process any fees in-house. The operator will have control over who is assessed any payment or credit card fees. Check scanning is going to be available as well, which allows for scanning and depositing straight from your desk.
We’ll have an all-new vendor bill pay management system, where you can upload vendor invoices to our portal and fully automate the payment process.
The ILS (Internet Listing Service) is already live, at www.commercialcafe.com. There is now a Coworking and Shared Space section of the site, so you can search for spaces throughout the US. The database is being worked on daily and will expand internationally soon.
With the recent acquisition of Phoenix Broadband, our cloud-based data appliance is also now an in-house product and we’re bringing it into the US as early as Q1 2019. Our phone service will also be more robust and include many new features thanks to our new relationship with Cisco.
And one of the key features of Yardi Kube is connecting billing to connectivity management, meaning your voice, data, Wi-Fi. Activation and setup happen simultaneously. You don’t have to activate service in one place and add the charge in another, its now connected.
We also took several questions on the member portal.
The member portal is overhauled for a completely new look and feel, corresponding with the rest of the line of Yardi products. One of the biggest assets of this new look will be that throughout each different area of the portal, there will be interactive reports and dashboards. You can drill down into the most specific of details in any tab or section you’re viewing.
While in the initial release the dashboards will be static, in later releases we will allow for customizable widgets on the dashboard. You will still have access to all the stats and dashboards from the first release.
Some operators are already using Yardi Kube and Voyager separately. Since these two are now using the same database, there’s no longer importing and exporting involved in reporting, and Yardi has a phenomenal package which allows for customization on the side of the customer, or we can develop these reports for you. We are beginning to create these reports for the clients currently getting started on the beta version of Yardi Kube.
What does this mean for the current WUN Yardi Kube?
As of now, the current iteration of the Yardi Kube platform will continue to run for an indefinite timeframe. We will be continuing to provide personal service and troubleshooting, of course. Once Yardi Kube launches, it would eventually phase out and replace WUN Yardi Kube as you know it today, but there is no immediate timetable on that process. The long term future of our company and our platform is revolutionized with Yardi’s existing product line.
As for the transition from the current version to the new platform, its important to note that existing clients will have their info migrated over automatically. Our support team will be there to help operators with the transition. So, to reassure those who asked on the webinar, there will be minimal involvement from the operator in this process.
We also covered topics involving the Medusa Cloud, enhanced security, roaming between sites, and many other details. For more information about Yardi Kube, or to set up a demo of the platform, please click the link below.