Strataware A comprehensive online community management and accounting system used by professional Owners Association managers

www.mystrata.com

Our simple idea To develop a solution that reduces a manager’s administrative workload, enhances their service offering and improves their profitability. Our philosophy We build solutions that enable managers to focus on the important aspects of community management – protecting and enhancing asset values, improving resident’s lifestyles and building a sense of community. Our vision To build the best solutions for community managers.

www.mystrata.com

Strataware is an online community management and accounting system used by professional Owners Association managers.

Strataware is currently used to manage over 70,000 properties in six countries, including the tallest building in the world, the Burj Khalifa.

Covering all aspects of community management from statutory record keeping, accounting, bank interfaces and electronic reconciliations, e-mailing and full document management, Strataware is an end-to-end solution for a professional management business.

The software is delivered using state-of-the-art “cloud” technology, which means Mystrata host, maintain, back-up, upgrade and support one version of Strataware. This technology model significantly lowers the total cost of IT for our clients.

Every community that is managed using Strataware also has a unique web site and secure portal, hosted on the “MyCommunity” platform.

Targeted towards the owners, Board Members and tenants of real estate communities, MyCommunity enables managers to deliver an innovative “self-service” business model.

As both products utilise the same back-end technology and share the same database, the data and information sharing, user access control and collaboration between both systems is seamless. This helps reduce manager’s workloads, improve business efficiencies and profitability and ultimately enhance customer service offerings.

Overview of Strataware

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Portfolio Management

Whether you are managing a portfolio of 10 buildings or 1,000 buildings, Strataware has been designed for small and big businesses alike.

Portfolio management tools include the ability to run processes across one building, multiple buildings or all buildings, such as issuing service charges, debtor reports, e-mails, letters and notices or viewing outstanding activities for a manager’s portfolio or the entire company’s portfolio.

Sophisticated user-based security and access controls enable you to define user access on a screen-by-screen and in some cases field-by-field basis.

Access groups can be established such as Accounts, R & M, Managers, Insurance, Senior Management, Directors etc which enable portfolio-wide performance monitoring, assignment of tasks and the escalation of outstanding matters.

www.mystrata.com

Document Management

Strataware has its own in-built Document Management System (“DMS”). The DMS is seamlessly integrated into almost every screen in Strataware, enabling you to attach and access relevant documents, while still storing them in a centralised repository.

Every community is automatically given its own file structure, which can be customised, ensuring standardisation in your document storage across managers, across buildings and across the entire portfolio.

When documents are generated in Strataware, such as an e-mail or a report, a copy of that file is automatically saved in the DMS.

Auditing features include when and by whom a document was created, edited, viewed and distributed.

The DMS seamlessly integrates to MyCommunuity – just click on “Send to Portal”, define who can view that document and presto! It’s now available on that community’s portal.

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Word Processing & Email

Creating correspondence to owners, board members or a tenant is quick and easy using our customised word processing and e-mailing system.

Create building-specific or portfolio-wide templates using multiple merge fields such as <<Bank Balance>> and <<Service Charge Due Date>> to customize your correspondence for your target audience. You can even create a template on-the-fly as you write a letter or e-mail.

Email all the owners, board members or tenants with just a few clicks. Attach a financial report or a community report easily or access a document from the DMS or your own computer.

Once you click ‘send’ or ‘print’ the document is automatically saved in the DMS.

www.mystrata.com

Accounting

Strataware, at its core, is a sophisticated accounting system for managing multiple real estate communities.

Our system and financial reports has been audited by the industry’s leading accounting firms, including KPMG, and applies international best practice.

Users can account on an accrual or cash basis and utilize the powerful tools available in the different modules – General Ledger, Accounts Payable, Accounts Receivable, 3rd party Ledgers and Owner’s Service Charge Ledgers.

Multiple accounts and sub-accounts can be created, while reports can be as simple or as detailed as your client’s needs require.

Our simplified interface provides the flexibility of a powerful accounting solution in an easy to use environment.

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Reporting

Financial reports for Owners Associations need to apply international best practice, be accurate, and while at the same time be presentable and easy to understand.

Strataware has a comprehensive list of financial reports that will help professional managers stand out from their competitors.

Our general ledger reports, budget reports and revenue and expenditure statements give managers the flexibility to report as much or as little detail as they want.

Income and expenditure statements for example can be printed as a basic annual cash flow summary (suitable for small buildings) to a detailed statement that breaks up income and expenses into categories, asset classes and areas of the complex (suitable for large, mixed use developments).

Reports can be easily e-mailed to owners or board members using our integrated e-mailing system.

The reports also enable managers and committees to accurately track income and expenses against their budget over two years.

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Service Charge Invoicing and Reporting

Our clients consistently tell us that Strataware’s service charge invoicing system is the most powerful yet easy-to-use system on the market.

Service Charges can be configured on a building-by-building basis to allow for penalty interest that accrues automatically, discounts for early payments and grace periods.

Service charges can be issued for a building or your entire portfolio with the click of a button. Customise your client’s preferred method of delivery, whether it by mail, fax or e-mail. Notifications are also sent to the MyCommunity portal which enables owners to download a copy of the invoice, check their statement and make a payment via our online payment gateway.

Service Charge arrears across building and across your entire portfolio are easily managed.

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Management Fee & Disbursement

Invoicing

Create template management agreements for your company. Set-up disbursement schedules. Set-up schedules of standard services and additional services. Define your standard fees and charges, disbursement rates and staff hourly rates.

Assign template agreements to individual buildings or create customised agreements. Use your local Institute agreements and produce them exactly as per their copyright requirements.

Once an agreement is assigned to a building, automatically track and charge for disbursement items such as printing and photocopying. You can also record on-the-fly time billing or itemized additional services.

When it comes time to bill for your services and fees, Strataware automates the whole process across your entire portfolio. Invoices and statements are issued. Once approved, transactions are posted to the building’s AP module, enabling you to process an EFT payment or cheque. API feeds to external accounting systems such as MYOB and QuickBooks are available.

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Global Address Book

The Strataware Address Book is a global address book for your entire portfolio – it includes owners, past owners, tenants, suppliers, mortgagees, developers and board members.

Multiple entries can be recorded against each “primary contact” and used throughout the system. Details can be changed on-the-fly in modules such as the GL or AP, while records can be copied or linked, saving valuable time in data entry.

Various search and filter options make it easy to quickly locate the contact you are looking for with quick links to details such as service charge statements.

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Budgeting

The budgeting system in Strataware includes a link to the system’s extensive Chart of Accounts, developed over an 8-year period with assistance from companies such as KPMG, PKF Consulting, RICS experts, surveyors, FM experts, managers and Board Members.

Owners Associations can budget for general and reserve fund expenditure separately as well as any additional income such as common property rental or bank interest.

Budget reports can be produced showing two years Budget vs. Actual plus an annexure can be included with a break-up of every unit’s estimated service charge amounts.

Once the budget is approved, the amounts are then automatically sent to the Service Charge system for quick and accurate service charge issuing.

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Client Management

Manage your units, owners and tenants in one place. Quickly see which units are in arrears on service charges, who is an owner occupier and which car spaces are allocated to which units.

Access to the MyCommunity portal is automated and hassle-free.

When a new owner is added to a building’s “Register of Units” the manager can send them a welcome e-mail with their temporary username and password to their MyCommunity portal. This includes the automatic cancelling of the previous owner or tenants account.

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Feature List

The complete list of features for Strataware, which include both management and accounting features are listed below. All of these features are available now, some of which are currently being enhanced or re-developed as new modules are released.

Management Features

Global address book

Calendar

E-mail and Outlook integration

Word Processing

Document Management

Customized global and building-specific templates

Management Agreement preparation

Management Fee and Disbursement Invoicing

Automated tracking and billing of disbursements and time-related billing

Current and historical data storage for each Owners Corporation

Work Orders and Requests for Quotes

Meeting Management including preparation of notices and minutes

Activity Management and Key Date Tracking

Online Community Web Portals

Extensive management reporting on a building-by-building basis and across multiple buildings

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Feature List Continued

Accounting Features

Electronic payment gateway for payment of levies

Budgeting for annual levies

Reserve Fund forecasting

Invoicing of levies including ability to e-mail all invoices

Invoicing of other charges such as electricity, chilled water, security keys or swipe cards

Automatic reconciliation of levy payments to Owners Corporation bank account

Ability to set-up multiple ‘accounts’ such as investment and security deposit accounts

General Ledger

Accounts Payable Ledger

Accounts Receivable Ledger

GST/VAT reporting

Individual Owner and 3rd Party Ledgers

Management Fee and Disbursement Invoicing

Automated tracking and billing of disbursements and time-related billing

Extensive industry-wide chart of accounts that can be customized for each building

Extensive financial reporting on a building-by-building basis and across multiple buildings

Australia Mystrata Pty Ltd ACN: 096 289 253 PO Box 322 Chermside QLD 4032 P 1300 550 515 P +61 7 3839 3199 F +61 7 3036 6143

United Arab Emirates Mystrata Middle East FZ LLC Part of the Mystrata Group

PO Box 28147 CPO Dubai UAE P +971 4 323 3928 F +971 4 323 2369

www.mystrata.com info@mystrata.com