“ We ’ ve built a nice relationship with Sterling , using their help to acquire properties — and they provide either permanent or bridge-loan financing to get the deals done in a timely manner .”
— TODD MENOWITZ , MENOWITZ MANAGEMENT CORP
When Growth Takes on a Different Form In real estate , acquiring properties and enlarging market penetration is a constant and visible sign of growth — a tangible way to see progress . Changes made to technology may not be quite as tangible , but are just as essential for remaining relevant .
For Menowitz Management Corp ., technological innovation means always looking for a way to automate . It ’ s common knowledge that paying a bill online is usually easier than writing a check and mailing it in . Automating internal workflow processes may not instantly come to mind as a way to make businesses run smoother . Yet Menowitz and his brother knew that internal automation was an aspect of their company that needed to be developed .
“ We created a special system for automating work orders , where everything is done through the cell phone . And we also have a proprietary clock-in system for employees that ’ s also linked to their cell phone , where they walk in and the technology lets us know they ’ re on the clock ,” Menowitz explains .
Menowitz ' s brother , Marc , spearheaded the development and implementation of the cell phone processes . With a background expertise in field , service , and factory automation , Marc utilized that knowledge to improve operational performance .
These advancements have been revolutionary to existing processes at Menowitz Management Corp ., and the team continues to look ahead by searching for better ways to automate elements of bill payments and payment processing . Currently , they ’ re discussing options with software management firms and checking on applicability with their internal IT team .
“ I would love to work with Sterling to get our services more automated ,” Menowitz says . “ The next step for us would be to really work together to try and see how we could automate bill payment and payment receipts ,
where payments automatically log in to the tenant ’ s account and update the tenant ledgers .”
From the Mind of a Leader “ Hiring the right people and learning how to delegate ... has been a key component to helping me expand at such an accelerated rate ,” says Menowitz . In fact , recently , the firm hired an individual who has helped Menowitz Management Corp . take on a large number of acquisitions , which Menowitz says he would never have been able to handle without the help . “ I ’ m still learning not to take on everything myself and to delegate to people within my organization ,” he says .
The extra help will prove paramount as the firm focuses on expanding their multifamily portfolio across the nation .
Have an eye on expansion of your business ? Need help in automating key financial processes ? Let Sterling help . Call your relationship manager at 855.274.2800 today .
14 | SNB . COM // CONNECT INNOVATION SUMMER 2016