Most companies understand that technology can help their businesses run more efficiently, generating savings in time and money, as well as creating the opportunity to focus on critical tasks to increase revenue. It is 2018, after all. However, the Commercial Real Estate industry, as a whole, is still relying on outdated technology for their day-to-day business processes.   In addition, many of the common place technologies used do not talk with one another, creating more inefficiency. 

In fact, a recent survey of real estate professionals found that 42 percent of CRE organizations use spreadsheets and/or paper in some critical business capacity. Not only is this process time-intensive, but it also puts businesses at risk for a number of reasons. Using paper forms or clunky spreadsheets in lieu of a technology platform designed specifically for the industry (like One Spot), makes data difficult to analyze and trends hard to identify.  Which means businesses are losing out on the opportunity to learn about their customers and optimize their practices accordingly.   And understand trending that could help maximize operations and budget planning. 

Utilizing outdated technology and inefficient processes creates tedious work flow.  The storage of important information in a system that is often difficult for new employees to manage, places the organization in an extremely vulnerable position each time a key employee leaves.

Perhaps most important of all, new studies indicate that tenants are not only expecting innovative technology as part of their service, they are choosing not to work with companies who haven’t adopted software as a solution.  Once-rare services like online billing and maintenance requests are becoming table stakes in CRE, which means those companies not offering these amenities will find themselves losing tenants to other, more tech-savvy competitors.

Implementing a property portfolio management system like One Spot is a great way to stay ahead of the tech curve. One Spot is a technology platform designed to address the unique needs of the CRE industry, with easy-to-use functionality that saves time and money, while providing real-time transparency into property management.  Property managers eliminate chaos and redundant processes, all in One Spot. To learn more about how the One Spot platform could benefit your business, contact us today.