You know that you need to enhance your reporting. Should you hire a consultant to build reports in Yardi Voyager? Buy reporting software for better and more customizable reports and visualizations? Or should you keep plugging away in Excel? Let’s explore the pros and cons of Yardi custom reports: build, buy, or do nothing.
When To Do Nothing
For firms with 10 or fewer individuals, you may choose to use reports that come with Voyager (Yardi analytics, YSR and core reports). These are often powerful enough for daily operations and monthly accounting reports. Plus, you will pull directly from Yardi for the latest data. If you don’t need to reinvent the wheel, then don’t.
When To Build
If you have specific reporting requirements that aren’t covered by Yardi’s out-of-the-box reports, you may need to rely on the custom SQL function in Yardi. For specific owner reports, a weekly executive dashboard, or any other custom request, you can leverage the Yardi custom SQL reports in Voyager. You will need both knowledge of the Yardi data structure and strong SQL skills. Make sure that the benefit of the custom reports is higher than the cost of hiring a consultant!
If you’re not sure where to start, we’d be happy to recommend one of our trusted partners who are experts in working with the Yardi database. Send us a message, and we will connect you.
When To Buy
Are you in need of better looking reports, seeing trends like aged receivables over time, and custom visualizations? And you don’t want to break the bank? Consider using a SaaS product. These platforms often offer robust data models that can be easily integrated with various property types, such as retail, senior living, and affordable housing. By leveraging the experience of platform providers, you save time and money compared to building individual reports from scratch. In fact, most analytics needs can be met within a few weeks, rather than taking months to build custom Yardi reports. Plus, SaaS products often offer these services at a fraction of the cost of building reports in-house.
Keep in mind that SaaS platforms rely on Yardi’s refresh cadence, which means the information may be one day behind.
Conclusion
Ultimately, the best approach for you will depend on your specific needs and budget. If you have any questions, don’t hesitate to reach out for guidance.
Yardi Custom Reports: Build, Buy, or Do Nothing