Building finance management plays a key role in a building management system. Keeping track of every transaction for the building maintenance and other repairing costs is a hectic job to do. Generally, the regular building-related expenses are managed through building funds. It is the fuel of a building. It is tough to manage the funds because the expenditure is not constant, costs change most of the time and only utilized when necessary. For example, the expenses can be once in a month or no expense on the building during the next month. The scattered characteristic of the costs makes the situation for the accountant. The plan is to make their life easier by introducing a mobile app that can handle the accounts flawlessly, able to keep track of every transaction.
A building or community is managed by a building management committee. The responsibility of managing the accounts relies on the hands of the Treasurer. A treasurer monitors every segment of building funds. Where the fund is coming from, where it is spent to and everything. What if all this hard work can be done by a single mobile application? One does not have to keep running for the expense calculations, no need to keep a record in the conventional pen-paper system, notifications when a transaction is made. An easier way to maintain the building funds.
Service charges are the main sources of building funds. Every month bills and rents are collected along with service charges. A particular amount from the service charge is deducted when maintenance or repairing is necessary. The services include plumbing, lift maintenance, generator maintenance, and many others. To ensure the services at the best conveniences, these funds are allocated every month, for better management of the building.
Managing a building is a continuous process. Individuals of management committee might have their own business or workplace. It is tough to maintain both parallaly which is why a solution to the unnecessary gadding is merely necessary for everyone to have a peaceful living experience.
Currently, Rokkhi Limited is working actively to erase the problem of building fund management through a mobile application in Bangladesh. Along with bill & expense calculation, building funds can also be kept under monitoring through their mobile application. It is necessary to have a technological solution for the surveillance of building fund management.
Every sector has been switching to technological platforms with time for better efficiency and reliability, so is the building management. Fund management of a building can never be left out when it comes to managing the necessity and stability of a building.