Innovative Approaches To Improve Commercial Real Estate Management Software

Commercial Real Estate Management Software Approaches To Improve Commercial Real Estate Management Software

The commercial Real estate management software was earlier more of an augmenter. If you look at the phases that particular technologies go through, they pretty much follow similar patterns: early adopters challenge status quo and realise nominal benefits, awareness increases and software becomes more robust, and finally, where integration happens across significant business functions.


Commercial real estate management software followed this trend as well, moving from back-office task processing to assume the role of an all-encompassing solution. By being the supporting layer to most or all of your business functions, commercial real estate management software has become more powerful, agile and easy-to-use. But you can do much more than what your vendor offers. This article gives you some productivity hacks to get the most out of this digital habit of using software to transform your business.


Integrating Applications Into A One-Stop Solution:


The property management system is often something that is centralised and borders on bureaucratic overtures. There are some stakeholders involved in business functions, but the commercial real estate management software tools that aid your business can be overwhelming as well. Since installing your real estate software with enterprise resource planning (ERP) or customer relationship management (CRM) capabilities makes it the most comprehensive tool that brings in the most impact, you can complement it by connecting your existing applications with it.


What is even more beneficial is weighing the benefits of inbuilt features of the property management software, vis-à-vis similar functionality offered by your legacy applications. Leverage this mesh of connected functionalities, add the power of big data or artificial intelligence provided in the software, to reap better results.


Hacking Your Way Beyond Available Features:


It’s incredible to see how new software for property management solutions are fighting the conventional nature and moderate speed of the market. Today, there is wide-ranging commercial real estate management software options, from enterprise level vendors to custom-shop vendors offering bespoke solutions that rightly fit the customer’s market. But the story doesn’t end just there.


There are other productivity and efficiency tools which could be right in your hand, through your smartphone. For example, you might be wanting a universal note-taking application to save ad-hoc ideas or things to be completed. Perhaps, such feature might be offered in diverse ways in your software for property management, but not as a complete build. Visualize all the solutions provided through your software, and identify where some gaps are. Follow this with a rigorous search to find applications that can fill this gap for the interim, until something better comes along.


Driving Greater Productivity, right at your Fingertips:


Your software can be as good as how you use it. With the hustle and bustle of your daily business operations, along with you needing to be on the road most of the time to meet clients or partners, leaving your commercial real estate management software on your desktop or laptop in office doesn’t help.


While vendors do provide some level of mobile functionality, having the entire suite of features made available on mobile and tablet platforms allows you to streamline your operations better, and turn around tasks or real goals faster. Commercial real estate management software that is responsive and adapted for mobile gives its users a better interactive experience. That’s because mobiles and tablets are unique in the features that allow for this.


Ensuring Bang For Your Buck With Customization:


Since no street or block looks the same across the world, every realtor like you manage properties of various size, specifications or tenancy models. This trillion dollar industry is being disrupted by many real estate software providers across the world, but stock options do not always fit the bill of this industry that is not just impacted by new developments within its domain but profoundly influenced by many market factors, like the economy or lifestyle trends.


That gives commercial real estate management software the opportunity to put on its agile methodology cap to create a standard technology platform on which flexibility can be ensured. This platform can provide the force needed to bring about foundational change but can be elastic to accommodate and cater to the needs of each property manager’s custom requirements. That is key to getting the most out of it, and boosting growth.


Company Culture and Partners Buy-in for Stronger Business Growth:


Surveys around the corporate world have shown how culture shifts and design approaches among employees not only lead to a happier workforce but bring in real revenue growth as well. On-boarding your commercial real estate management software, which is tantamount towards attempting to overhaul your business operations and marketing techniques, must be matched with equal, if not more efforts to bring about a change in culture.


This culture must be built on pillars of embracing change, being customer-focused and becoming more collaborative, as the property management software espouse and further these beliefs. Not syncing your culture with the difference being brought about by the property management software implementation can confuse software adoption by the teams, discrepancies in workflow processes or even calls to revert to old methods. Go beyond your company and get this shift incorporated among your partners and supporting vendors.


The practices mentioned in this article might look unfamiliar or revolutionary to us at the moment, but it is the point of inception to what lays ahead. Commercial real estate management software, which brings in all the power that technology offers, should also signal one of its foundational principles: the current versions available are the basis for customisation and improvisation.


Around 70% of almost US $6 billion invested by venture capitalists in property technology (protect) happened in the last two to three years, according to report by CB Insights. The scale disruption and ideation by new startups are giving the incumbents a run for their money to evolve and stay relevant. Get the most out of your implementations by going beyond the ordinary, and become the industry alchemist everyone can benchmark against.

1 Comment

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