DALLAS, Oct. 30, 2018 /PRNewswire/ -- JPI Companies ("JPI") engaged RealFoundations ("RF") to provide strategic guidance and program management services during the recent migration from Great Plains to Yardi® Investment Management and Yardi® Job Cost, solutions from the industry-leading Yardi real estate technology platform. With over $2 billion in equity under management nation-wide, JPI recognized the need to replace their legacy accounting system and implement a new, more robust environment, creating an improved integration between their financial and construction systems.
To support the upward trajectory and future growth of the Company, and to streamline business processes within the new enterprise accounting solution, JPI and RealFoundations collaborated on the design of system configuration, leading practices and the deployment of the Yardi platform for JPI's unique predevelopment, development, construction and investment management requirements.
JPI has developed or acquired over 340 projects (consisting of over 100,000 units) that are best in Class A multifamily communities across 26 states. With 19 projects underway, they needed the implementation to have minimal impact on day-to-day operations. "The collaboration between the JPI and RealFoundations teams was the key to making our implementation project a success", says Chad Tomerlin, VP of Financial Services, JPI. "The integrated design and customized solution help us toward our goal to be recognized by our customers as the #1 residential company in the markets we serve."
JPI and RealFoundations created several work streams to improve areas such as job cost, general ledger, investment accounting, accounts payable, fixed assets, etc., with RealFoundations providing additional project management to help guide the JPI teams during these initiatives. The project management, meeting structures and cross-functional communication RealFoundations facilitated allowed issues to be resolved early and decisions to be made quickly.
"We are particularly proud of how our combined JPI and RF teams completed the project on time and on budget and are very pleased with all the guidance RealFoundations provided," stated Beth Beach, Vice President of Financial Services, JPI. "It is hard to imagine us achieving these timelines without the benefit of RealFoundations."
This implementation was one of the smoothest with which RealFoundations has been involved. "The tremendous commitment and support from the JPI executive team and the project sponsor was the key in creating a strong project team from JPI and RealFoundations. The business value of the project was realized from the JPI and RealFoundations teams working together to apply leading industry practices in utilizing the Yardi platform to help JPI's business run better, " commented Robert Choi, Enterprise Managing Consultant, RealFoundations.
"Together, RealFoundations and JPI positioned the Financial Services team with a strategic way to harness enterprise solutions to help JPI compete and grow rapidly," said Kirk Motsenbocker, Managing Partner, JPI. "The success of the project exceeded my expectations and I am extremely pleased with the product that was produced."
For more information about RealFoundations, visit our website at www.realfoundations.net or contact Naomi Souza, Director of Presence and Assets Support | (214) 292 7086 | Naomi.Souza@realfoundations.net.
About JPI Financial Services JPI Financial Services delivers a comprehensive and robust array of corporate support services and the Yardi platform enhances JPI Construction Service's ability to compete in the marketplace. They provide lenders and investors with accounting, treasury services, compliance, risk management, legal coordination, and all other administrative expertise. They also provide exceptional human resources, leadership development, organizational development, information systems, public relations, and support services. Put them all together and it's not hard to see why JPI is one of the top industry leaders with over $2 billion in equity under management.
About JPI JPI Companies is a national developer, builder and investment manager of Class A multifamily assets across the United States. They are the most active multifamily developer in Dallas-Fort Worth and one of the most active in Southern California, with 6,499 apartment homes under construction. Headquartered in Irving, Texas, JPI also has a regional office location in San Diego, California. With a 30-year history of successful developments throughout major U.S. markets and an unparalleled depth of industry-specific experience, JPI stands among the most active privately held real estate companies in the country. JPI's executive leadership team has an average of 25 years of comprehensive experience in multifamily developments – ranging from low-density garden apartments and mid- to high-density wrap and podium projects to student-living housing projects and mixed-use high-rise developments. The firm offers investment management, pre-development, underwriting, marketing and asset management services as well as construction, financial and administrative services. To learn more about JPI, please visit JPI.com.
About RealFoundations RealFoundations is a professional services firm focused on the real estate industry. With offices on four continents, 400+ client-serving professionals and off-shore delivery capabilities in China and India, RealFoundations provides Management Consulting, Managed Services and Energy Solutions to developers, owners/operators, service providers, institutional investors and corporate occupiers. From the building itself to the way it is used, operated and financed, no firm understands the inner workings of the entire real estate ecosystem as well as RealFoundations. We Make Real Estate Run Better.