Customer-centric property management in the digital age
The Finnish property management company Iljan Isännöintikeskus established by Ilja Knuutinen has prioritised growth and quality from the beginning. A successful acquisition paved the way for the Kuopio-based company to become a pioneer in its region.
Iljan Isännöintikeskus Oy, which will reach a turnover of around one million euros in the coming fiscal year, has seen significant growth in its three years of operation. This has been achieved by developing customer service and sales and by making a successful business acquisition in 2020, when Isännöintipalvelu Pekka Ryhänen was transferred to Iljan Isännöintikeskus Oy.
– I found Pekka Ryhänen’s property management company through my extensive partner network. Our interests were perfectly aligned, so we quickly reached an agreement on the terms of the acquisition, says Ilja.
Iljan Isännöintikeskus was planning to expand its operations to new locations. At the same time, Pekka was looking for a successor for his company. Once the acquisition was completed, Pekka continued to work at Iljan Isännöintikeskus for three years to ensure the smooth transfer of operations.
An increase in cash flow
For Ilja, acquiring an established business solved many of the challenges entrepreneurs often face when starting a business. Isännöintipalvelu Pekka Ryhänen came with competent staff, functioning processes, and ready-to-use management software.
– With the acquisition, our turnover tripled, and our team expanded by three new industry professionals. At the same time, we also received good cash flow, which was of great financial importance for our company in its early stages, says Ilja.
The property management software used at Isännöintipalvelu Pekka Ryhänen was also deployed at Iljan Isännöintikeskus. The deployment went smoothly, as the employees who were transferred as a result of the acquisition were able to train their new colleagues in the use of the software.
Support was essential for moving forward
When planning a business acquisition, an entrepreneur should carefully consider different perspectives and consult an independent external expert. Ilja has received advice at different stages of her entrepreneurial journey from Pekka Naumanen and Tarja Pöyhönen from the Enterprise Agency Kuopion seudun Uusyrityskeskus.
– The help and support I have received from the Enterprise Agency have been invaluable. Whenever I have had doubts, they have encouraged me to move forward and provided me with new perspectives. I received valuable information on early-stage financing, which would have taken me a long time to find on my own, says Ilja.
Iljan Isännöintikeskus, which currently employs 17 property management professionals, has focused on providing a personal and customer-friendly service. The company has also invested in digital services. Today, the share registers and documents of housing companies must be in electronic form, and in the future, the amount of reporting will increase as registers on maintenance and alteration work will be transferred to a public database.
– The strength of Iljan Isännöintikeskus lies in the entrepreneur’s innovative attitude and strong desire to develop the company. Ilja’s encouraging management style motivates the staff to give their best. The company is known for its friendly service, says Tarja.