Scott Seegmiller, CFO at WestCorp Management Group, says he strives daily to take the property management and accounting services company to new technological heights.
Since Seegmiller came on in 2008, he’s watched the organization’s file room disappear and reappear in the electronic world and workflow move from the workplace into cyberspace.
Seegmiller would land his first accounting job with Deloitte in Las Vegas, working in the audit department on client accounts such as Howard Hughes Corp. He would later find an interest in technology and its usefulness in solving business-related problems.
Following that path, he was led by a friend’s offer to become a management consultant at Laventhol & Horwath, another large CPA firm.
Seegmiller would later become a partner in Realty Management, Inc., a property management company.
Seegmiller is a native of St. George, Utah, where he also spent his college days. He received a degree in business from Dixie State College and a year later a bachelor of arts in accounting from Southern Utah University, where he was the accounting student of the year in 1977.
He would later meet his wife, a school teacher from Los Angeles, after she moved to Las Vegas looking for work. They have six children.
Q. What is special about WestCorp’s accounting software?
A. There’s lot of software for real estate that’s out there. I think the interesting thing that has made a difference for WestCorp is the ability to take the technology, and apply it in an efficient manner. I work as a consultant with a lot of different property management companies. One of the things that we have accomplished is becoming more efficient in our operations because we look for ways to make the software do more, so that people can do less.
Q. How does the accounting software assist firms with audits?
A. Because all records are electronic, huge savings are realized when we assist our auditors with their annual financial audit. We give them read-only access to our system, and they can look at any records they need to without involvement from our staff. We save time, and they can do the audit more efficiently, since they are not waiting on us.
Q. How is the outlook for the multifamily industry?
A. The industry has told us since 2008, the percentage of home ownership is down significantly. More people are renting apartments than ever before. It’s creating a great opportunity for people who do apartment management or who are in the multifamily business. If you are an investor, returns on your multifamily investments are greater than any other real estate segment. Rents are going up at 5 to 6 percent a year. Occupancies are higher than they’ve been since 2001. It’s a great time to be in multifamily.
Q. Did you always see yourself going into accounting?
A. I always thought that I was going to be a doctor or an engineer. In high school, I studied physics, chemistry, electronics and biology. I had no desire to go into business. My sister gave me an accounting book and said ‘try this,’ and I finished three semesters in one semester.
