Rethink Solutions: Rethink Property Tax Management

Follow Rethink Solutions on :

Mordechai Katzman, President and Co-Founder Let’s face it: Property tax is one of the most significant costs/expenses for corporations with multi-property portfolios. Surprisingly, despite paying a hefty amount in property tax, most businesses continue to overlook their property tax strategy and view property tax as a fixed cost, similar to an employee’s salary or the mortgage. Unfortunately, many are oblivious to the potential impact of property tax on their profitability and, ultimately, their bottom line.

Corporations that take property tax seriously are mired in challenges pertaining to property tax management. While property tax values determined by the assessing authority can be challenged with smart data and management, this opportunity often slips through the cracks due to inefficient technology or siloed, outdated, and manual processes that most organizations follow for property tax management. These processes also lack collaboration capabilities for key stakeholders, internal teams, and external vendors. As a result, property tax managers should be seeking a powerful and effective solution that not only overcomes the challenges—from data collection and management to analytics and reports generation—but also minimizes their exposure to risk and maximizes their ROI.

This is where Rethink Solutions is in a class of its own. As the leading developer of property tax and assessment management software, Rethink Solutions is putting an end to the struggle organizations face when managing, storing, and analyzing property tax data. To achieve this, the company has developed itamlink—a first-of-its-kind property tax management software dedicated to the active management of real estate property assessment and taxation. Thanks to its unique ability to build and support an overall property tax strategy, improve strategic business decisions and ultimately increase portfolio value, itamlink is trusted by some of the largest real estate companies in North America.

Rethink Solutions’ cloud-based software for managing property tax centralizes data and important documents and facilitates collaboration between internal teams, external vendors, and key stakeholders.
Additionally, itamlink generates real-time, data-driven analysis of corporate real estate information with an aim to control costs and mitigate risk. This type of business intelligence assists corporations in streamlining processes across every segment of the property tax lifecycle and empowers them to take ownership over their property tax strategy. “With technology like itamlink in place, organizations are enabled to challenge values, reduce taxes and ultimately, manage one of their largest expenses effectively,” states Mordechai Katzman, Co-Founder and President of Rethink Solutions.

Maximize Efficiency, Minimize Efforts

Rethink Solutions’ flagship product, itamlink helps manage every stage of the property tax process without geographical limitations on properties or teams. “The property tax management space is teeming with massive amounts of data across multiple jurisdictions and teams, which makes it important to have the proper support in place that can accommodate all the information and variables associated with property tax through the year,” states Katzman.


With technology like itamlink in place, organizations are enabled to challenge values, reduce taxes and ultimately, manage one of their largest expenses effectively


Besides receiving data, itamlink also acts as the system of record for all property tax data and facilitates automated payments, budgeting and forecasting workflows, notifications, and reports. One example of how itamlink helps clients manage complicated processes is with the appeal workflow.

itamlink’s appeal workflow processes allow clients to manage multiple discreet processes with unique lifecycles and processes in one place. It helps track all elements of an appeal occurring at different points throughout the year—from reviewing values, modeling scenarios, to tracking refunds and managing fees. Each element of this workflow works in relation to the others to ensure more efficient and accurate appeal management.
itamlink Capture enables clients to automatically upload and convert paper documents into electronic data. When used in combination with the other itamlink modules and functionality, it enhances the overall tax payment process and the other aspects of the property tax management life cycle. “In an increasingly complex and technology-driven business world, itamlink Capture offers the cost and efficiency conscious a competitive advantage of automating previous manual functions,” states Katzman.

The itamlink platform also breaks down silos by promoting a connected environment across all property tax stakeholders and systems. Rethink Solutions’ team of expert developers is available to build and support all types of integrations with real estate and accounting software, along with ERP systems and data providers for meeting specific business needs. itamlink integrates with many of the leading property management, ERP, and payment systems.

During client onboarding, Rethink Solutions leverages its extensive, hands-on property tax management experience, to determine the best way to organize and load clients’ historical data. They then optimize and validate the data, guaranteeing a smooth onboarding to the itamlink software. The team’s deep knowledge of effective property tax management guides clients through the process of setting their portfolio, normalizing their data, and unleashing the true potential of itamlink’s functionality. itamlink can also automate tedious manual processes via their Data Manager tool. Clients can utilize this tool to manipulate large quantities of data at once, thereby significantly decreasing the amount of time spent manually inserting information.

A One-Stop-Shop for the Management of the Entire Property Tax Lifecycle

The uniqueness of itamlink stems from its ability to deal with the entire real estate property tax lifecycle within one system. The flexible solution fits any country, jurisdiction, language, currency, or processes. This gives clients using it a competitive advantage, especially if they have global portfolios.

In these ever-changing economic times, itamlink fits the need many organizations have for a scalable, collaborative solution to property tax management that can enable strategic decision making and, ultimately, increase portfolio value. “In collaboration with some of the largest REITs, retailers and property owners/managers in the world, our software has successfully helped clients track data in real-time, with major improvements in risk management and efficiencies,” concludes Katzman.

Company
Rethink Solutions

Headquarters
Ontario, Canada

Management
Mordechai Katzman, President and Co-Founder

Description
Rethink Solutions is a leading developer and vendor of property tax and real estate asset management software solutions. Rethink Solutions has developed itamlink—a first-of-its-kind property tax management software dedicated to the active management of real estate property assessment and taxation. Thanks to its unique ability to build and support an overall property tax strategy, improve strategic business decisions and ultimately increase portfolio value, itamlink is trusted by some of the largest real estate companies in North America. The uniqueness of itamlink stems from its ability to deal with the entire real estate property tax lifecycle within one system. The flexible solution fits any country, jurisdiction, language, currency, or processes.

Rethink Solutions