Symba Has The Cheat Codes For Managing Agent Finances: Tech Review
Symba is fintech-light layered over a deal tracker, spliced with back-office accounting. It’s an outstanding instrument for anybody new or rising within the enterprise and a strong accent answer for these already snug managing their numbers.
Are you receiving Inman’s Agent Edge? Be sure you’re subscribed for the most recent on actual property expertise from Inman’s professional Craig Rowe.
Symba is a enterprise and monetary administration app.
Platforms: iOS, Android
Very best for: Brokers, groups
High promoting factors:
- Mild, intuitive UI
- Tax/bookkeeping options
- Full back-office deal breakdowns
- Deal and task-tracking modules
It might be robust for an agent who’s already on high of their funds to modify to a cellular answer like this. Outdoors of that, I’ve little concern concerning the idea or its supply. I fear just a little about it increasing past its present worth proposition.
What it’s best to know:
Symba is a cellular app (a browser model is pending) for managing brokers’ and groups’ transaction funds. It simply creates deal internet sheets, connects a number of financial institution accounts, gives revenue/expense breakdowns, creates revenue projections, and clearly delineates tax obligations for each deal, quarterly and over time. Its fintech-light layered over a deal tracker, spliced with back-office accounting. It’s an outstanding instrument for anybody new or rising within the enterprise and a strong accent answer for these already snug managing their numbers.
There’s a instrument in my expedition first-aid package referred to as a pulse oximeter. You’ve possible had this little system clamped onto your finger once in a while, it manages blood O2 ranges. This app is like that. Easy. Sensible. And helps you recognize rather a lot concerning the standing of your livelihood from just a few preliminary information factors.
I’m at all times amped on apps which are singular in function, that establish a well-liked irritation and clear up it with a transparent, direct expertise.
Contacts will be absorbed via the system’s native Rolodex, and will considered one of them be a part of a deal, Symba routinely collates their information into the transaction workflow, which incorporates job lists and deal standing updates.
Every deal, primarily based on kind, is supported with a easy standing timeline, beginning with “In Communication” and ending with “Below Contract.” Duties are then stacked inside every and drive standing modifications.
It appears like loads of work for a cellular app, however Symba does an incredible job collapsing bigger duties into what’s probably the most pertinent. It’s slimmed down enterprise administration.
The monetary facets of Symba, its core competency, actually, take just a little setup upon initialization, however nothing a couple of minutes of centered interplay received’t alleviate. Merely add your cut up and contract particulars, join financial institution accounts (and bank card accounts) and enter itemizing information because it comes.
Knowledge between Symba and your financial institution accounts circulate securely each methods.
The app visually categorizes revenue and bills per deal, taxes owed, deductions and even populates tax varieties to be relayed to the suitable skilled for submitting. Estimated taxes, too, are highlighted to make sure customers know precisely what they should hold on to chop these quarterly checks. It additionally helps you to add images of receipts to connect to offers and bigger work expenditures.
All monetary information will be considered in any variety of time frames: month-to-month, quarterly and yearly. It contains revenue projections benchmarked in opposition to previous efficiency and present offers within the app.
Total, the impression of such important enterprise economics so properly summarized is spectacular, particularly when one considers how difficult this facet of the enterprise nonetheless is for numerous brokers.
Symba is positioned completely as a instrument that turns into extra useful with time. It’s the carpenter’s favourite instrument, the one which solely leaves the hip bag when it’s getting used. And its deal oversight performance is mixed simply properly sufficient to assist the person know the place all of it stands. It does its one factor very well and received’t get in the way in which of your tech stack.
I suppose a caveat is so as. I detest dealing with my funds and doing taxes much more. I’ve a bunch of 1099s yearly, ship quarterlies, observe residence workplace stuff, and nonetheless ache with panic come the beginning of every yr.
I’ll pay an accountant something to deal with my taxes and books. It’s been stated I’ve a quantity phobia. Math for chemistry and physics had been superb, having formulation and a function helped. However when precise authorized repercussions can come from not dealing with your funds appropriately, I put all of it on tech and professionals. Possibly I’m too enthusiastic about seeing cool options for my private ache.
However, if you happen to’re like me, you’ll instantly acknowledge how Symba might help.
Have a expertise product you want to talk about? Electronic mail Craig Rowe
Craig C. Rowe began in industrial actual property on the daybreak of the dot-com increase, serving to an array of business actual property corporations fortify their on-line presence and analyze inner software program selections. He now helps brokers with expertise selections and advertising and marketing via reviewing software program and tech for Inman.