Financial statements that crowd information using typical accounting models can be very confusing to property owners and difficult for property managers to explain. This confusion leads to distrust and a breakdown of relationships between property management companies and their customers.
Utilizing an iterative process and a of design thinking tools helped us to narrow to critical insights that shaped our concepts into meaningful solutions.
Mind mapping exercises helped the team narrow to critical items and evaluate assumptions.
Interviews and testing with users to gain a deep understanding of needs & pain points.
Storyboarding and visualizing various scenarios to rapidly ideate and test out concepts.
2x2 mapping helped us narrow to achievable outcomes that would bring the highest value.
Getting paid is their highest priority, but they want to understand the actual accounting of their income.
The majority of independent owners inherit properties and thus, have little experience with trust accounting and property management standards and practices.
Owners want to feel in control and fully informed regarding the management and care of their properties.
The majority do not have an educational background in accounting or business. Thus standard business practices and terminology are not always clear to them.
They depend on their management software to comply with industry standards and practices.
They want more control of the information their property owners receive to minimize confusion and distrust.
The path from when a statement is issued by the PMC to when owners feel satisfied that they understand the amount and, more importantly, that they are receiving everything that is due to them.
Low to medium-fidelity wires were developed and used for testing various scenarios and user types, allowing for quick iteration and refinement until a UI system could be designed.
When Owners access their statements via their mobile portal