Strata Management

The strata management industry historically has been very paper intensive, with legislation dictating the record retention requirements of each strata manager. Compliance with the Strata Act does however provide for electronic storing of documents, presenting the opportunity to move records management into the electronic space and enjoy massive cost benefits.

Redmap is working with many strata management companies that have introduced a number of initiatives to reduce dependence on paper and adopt electronic documentation processes.

The Redmap solution allows strata management companies to free themselves from most paper-based processes.

supplier invoices are now faxed, delivered to an email Inbox and imported into the Redmap system. These invoices are scanned and using optical character recognition (OCR) relavant invoice data is machine read, eliminating 80% of data entry work required for entering invoices into the financials.
invoices are imported into the Strata Management System and can be automatically prepared for payment based on predefined business rules.
bank statements are downloaded from the bank in bulk, the file is split by strata plan number and electronically filed against the appropriate strata plan. Paper copies are eliminated.
financial statements are electronically produced in bulk, split by strata plan and emailed to the Executive; paper copies are eliminated.
selection of emails that require retention to the strata records is made without the need to print.
retrieval of all strata plan ( and other ) information is fast and efficient enabling queries to be answered promptly.
multiple staff members can access the electronic records at once.
strata auditors have full electronic document access - no photocopying.
strata searchers can be completed offsite.
strata managers can access data and records on the web during meetings, using laptop wireless technology.
meeting notices and minutes are stored electronically - no printing.
owners can securely access their plan documents to retrieve meeting notices and minutes via the internet, including important strata plan financial statements.

There is the centuries old, expensive manner to store and access your records and there is the Redmap Smart way. Redmap has been solving document management challenges for the Property Services industry for the last 14 years and has a strong pedigree in doing so.

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