KriyaGo - Blog #data analysis

10 Ways You Can Make Your Work Simpler with Real Estate Integration

Tue, 05 Oct 2021 12:04:18 -0400

Modern-day property management software has made real estate processes easier. With several options, real estate companies struggle to make the right technology choices. Proper planning of business goals can help you define your technological needs. If you want to automate several processes, then one of the best options is software integration.

Integrated software is cost-effective and has the benefits of multiple software in a single platform. Through the right strategy, you can use integrated software to simplify real estate activities. Here are some of the best ways you can use software integrations to manage your work.

1. Better data flow

Data synchronization is one of the most important outcomes of real estate software integration. Real estate processes are interdependent and benefit from smoother data exchange. For example, if you use a separate CRM software, then your sales software cannot target the relevant leads due to the lack of data. Instead of manually entering data from one software to another, you can opt for integration.

Unlike individual platforms, using integrated software requires you to enter the data only once. All property management processes can function through this single database. Whether it is CRM or accounting, all systems can exchange data among one another.

2. Improve data quality

Software integration reduces repetitive tasks such as entering the same data in different platforms. Such data entries can duplicate and make the whole system inefficient. Eliminating redundant tasks not only saves you time but also impacts the data quality. Why does this matter? According to SiriusDecisions, organizations can get up to 70% more revenue with better data quality.

Reducing duplicate data, organizing the information, and cleansing the data regularly are some steps you can take for high data quality. All of this can be easily achieved by integrating your real estate software.

3. Reduce cost and investment

Varying business needs drive property managers to invest in multiple similar software. While the tools, as a whole, can meet the business requirements, most of them also have several features which go unused. Real estate integrations allow you to spend on only those features required for your business.

Another way you can reduce technological costs is by integrating old and new software. Most platforms release updated versions with new features. Discarding the old one and moving all the data to the new software can be expensive and time-consuming. Instead, you can integrate both of them for easier data transfer and also get a smoother transition.

4. Improve security and compliance

Repeated data transfers using internal or external agencies pose a threat to data security. Most of your software contains financial information, documents, and other sensitive data. Risks with data transfer involve accidentally sharing access credentials and data deletion.

Integrating software eliminates unnecessary data transfers. As the data is stored in only one place, it is also easier to back up and restore whenever required.

5. Better tenant management

Accessing all tenant information in a single place makes tenant management more effective. If your rent payment details are saved in one platform and maintenance details in another, then managing tenant information becomes difficult. By integrating tenant portals and accounting software, you can save all tenant information in a single database.

Doing so makes it easier to keep track of rent payments, maintenance requests, and other information. It is also easier for your tenants to access all their data in a single place.

6. Improve lead generation

This is one of the most important goals of every organization. According to IDG Enterprise, 68% of marketers find generating high-quality leads a challenge. While most organizations manage to find relevant leads, they fail to keep them interested because of inefficient follow-up processes.

To effectively nurture leads, you need to have the right information on each prospect. Collecting data for lead follow-ups can be tedious if you do not use integrated software. If you have a single database storing all prospect information, then you can nurture them better through strategies like email and content marketing.

7. Accurate data analysis

Data analysis is the future of the real estate industry. It can help make better investments, improve tenant satisfaction, and generate higher revenue. A report by Deloitte has emphasized the value of data analysis and urged real estate services to “evolve from building and systems management to integrated management of spaces.”

Data isn’t useful if it is scattered across various platforms. Data collection for accurate predictions can be achieved through integrated systems. Changing the way you manage and store data can have a huge impact on the predictive power of your business.

8. Customize automation

Off-shelf real estate software is designed keeping in mind the broad requirements of companies. If you want something specific, then customizing your software is an excellent option. But, instead of building new features suitable for your business, you can utilize existing features from different software.

This makes customization easier while allowing you to design software based on your requirements.

9. Manage portfolio

Managing your real estate portfolio is important if you want to market yourself better. Having an organized portfolio creates a better impression on your client and also makes it easier for you to communicate. Integrating software lets you display all your products and services in a single place. This is a hassle-free approach to brand marketing and visibility.

10. Optimize communication

Finding it difficult to send the right information to your tenants or clients? Try integrating software to manage data easily. For example, by integrating tenant portals with your payment software, you can easily send rent invoices and receipts to your tenants. Similarly, tenants will also find it easier to send you information through a single platform.

Make the most out of real estate integration through KriyaGo

KriyaGo understands the many benefits of integrating real estate software. Whether you want to upgrade your software or just add new features, we have solutions to suit your requirements. Our experts work with platforms like Yardi, Procore, and SAP Concur and offer unique insights for software integration. We support you throughout the integration process with data integration, training, and more.

To start with real estate integration, reach out to KriyaGo!

8 Top Benefits of ERP integration in Real Estate

Thu, 09 Sep 2021 11:37:41 -0400

Real estate technology has been transforming the industry, especially by improving work efficiencies. Rapid digital innovation has presented endless choices to companies looking to automate their processes. From handling tenants to managing payments, real estate ERP provides solutions to every problem.

To make the most out of the various ERP software, it is important that they talk to each other. Apart from the improved efficiency and work organization, here are a few more benefits of integrating various real estate ERP software.

Easier Transition

Even though the real estate industry is quickly adopting technology, 19% of companies do not have a digital strategy. Companies that already use real estate technology do not want to lose their existing data while upgrading their software.

Whether it is Office 365 or full-fledged software, ERP integration makes the transition much easier. Instead of completely moving your data, it lets you gradually shift to a new system. You can simultaneously use existing tools while also leveraging new features.

This will also cut down the training period by decreasing the learning curve. Employees only need to learn the new features while they are still able to work with the old ones. This helps you maintain the same level of productivity without compromising on technology.

Work synchronization across departments

Real estate businesses involve many departments such as marketing, accounting, and sales. Though most departments are non-IT, they use their own software to work more efficiently. This siloed information can complicate the work process, sometimes even requiring duplication of data. According to the TechTrends’ Technology Vision Survey, 55% of the participants faced difficulties in managing data through their software.

This can be easily solved by integrating software across departments. The multifunctional ERP not only syncs data but also creates a single database accessible to all employees. Your sales data will be readily available for accounting. Similarly, the marketing department can access lead information from your CRM. This unified strategy helps your staff make the most out of real estate technology.

Accurate data and insights

The importance of data in real estate is already established. From finding the right leads to making better investments, it can help you maximize profits. According to McKinsey, nearly 60% of real estate predictive power can come from big data.

Conventional analysis methods that evaluate data separately generate multiple reports. These reports can be inconsistent and you will only get a smaller picture from each software.

Integrating your ERP helps you organize unstructured data obtained from various sources. Insights generated from such consolidated data are more accurate in predicting client behavior and market trends.

Maximize ROI

Real estate software comes with incredible features but can also be very expensive. If used strategically, they can give a high return on investment. According to Nuclear Research, CRM software pays back $8.71 on average for every $1 spent.

Using multiple software won’t let you fully realize their benefits. Instead, you can integrate them by choosing the features you actually use. This lets you budget appropriately and gets maximum return on interest, without wasting money on features that you never use.

Increase tenant retention

According to Zillow Rentals, 60% of tenant turnover is controllable. Integrated ERP gives insights into tenant behavior and preferences by collecting data from various sources. These insights can be used to create a better tenant experience which increases tenant retention.

For example, combining the data from tenant portals and maintenance software can help you identify the main problems of your tenants. Which area required the most maintenance? What did tenants complain about? Resolving these issues can increase tenant retention and build a better brand image.

Increase accountability through approval workflows

If a task requires several employees to work on it, you can integrate ERP to increase accountability. Integrated software lets you align processes using approval workflows. These are workflows within the software that requires every employee to update the progress of the task assigned to them. For a multi-step process, employees need to update the completion of the task at every stage.

Not only does it make the staff more accountable, but also helps you delegate tasks effectively. Approval workflows also save time as all the tasks are updated in the same software, regardless of the department.

Enhanced data security

Data security is one of the major concerns when integrating software. According to Perimeter 81, one out of two real estate firms has faced a cybersecurity attack in the past two years. Integrated ERP makes it easier to protect your data through a single database. Apart from setting up firewalls for cyber security, you can also secure the data within your own company.

You can set up role-based security that lets only specific users access the protected data. Additionally, you can also restrict unauthorized users to access the database. If you use multiple software, then setting up security for each application will be tedious.

If you are considering cloud integration, then you also need external security features. You can backup the entire database on a cloud server since they are very secure. They also have features such as multi-factor authentication and data encryption that prevent unauthorized access of data. This is especially beneficial for property managers who work remotely, as they can access the data from anywhere without worrying about its safety.

Increased scalability

An ideal real estate software is readily scalable according to business growth. Instead of upsizing or downsizing individual software, integrating lets you scale your entire tech requirements. Moreover, you can utilize additional features or remove existing ones without switching to different software.

Seamless real estate ERP integration through KriyaGo

An integrated ERP is an asset for businesses looking to streamline their business processes. KriyaGo helps you seamlessly integrate popular real estate software like Yardi, Procore, and SAP Concur. We understand our clients’ needs and suggest solutions accordingly. Apart from software integration, we also help our clients with support, training, and data onboarding.

By choosing KriyaGo, you get to leverage a professional team, market expertise, and comprehensive tech support. Our strategies have helped clients achieve business goals by making optimal use of technology.

Want to know more about our services? Book a free consultation call with KriyaGo!

6 Advantages Of Outsourcing Back Office Operations

Tue, 13 Jul 2021 09:30:00 -0400

A company's back office employees do not directly contact a client. They are also not the face of the company. But the back office handles crucial tasks and functions to make front office management easier. Back office staff usually handle administrative and operative functions.

Why is Back Office important?

The back office handles several key tasks like database administration, HR management, finance, IT, and technical support. Having an efficient back office helps in the smooth functioning of your business processes. Additionally:

They handle multiple tasks

Your back office handles most of your financial tasks. They manage accounts, keep track of revenue and expenses, and ensure that all functions go smoothly.

They ensure front office productivity

While the front office focuses on building the company's image, the back office handles all tedious tasks. They make sure that front office employees have all the information they need. This ensures the front office is productive and focused on building the brand reputation.

They manage company data

Every day the company generates a lot of data in the form of client information and transactions. Your back office collects, organizes, and stores the data on a secure platform like the cloud. More than 90% of companies worldwide store data on the cloud. They also help make the data ready for analysis to gain valuable insights from the information.

Get more from back office functions through outsourcing

Having excellent back office management is crucial for a company's growth. The company relies on the back office for a majority of its functions. But, 60% of customer dissatisfaction is traced back to the company's back office teams. If you find it difficult to manage another in-house team, you can outsource your back office operations. Outsourcing has several benefits over managing an internal team.

They manage company data

Even if you have to pay for outsourcing services, it can reduce the overall costs of your back office operations. Companies that provide back office services have pre-trained staff that have hands-on experience. You can cut down on training and induction costs through outsourcing. They also have a well set out approach to all back office functions. This increases productivity and cost-effectiveness. According to EY estimates, you can save from 20-60% by automating your back office operations.

Moreover, most outsourcing services operate from cities with lower living costs. This can reduce your back office expenses while providing you better services than an in-house team.

Since the primary goal of the back office is cost reduction, outsourcing to an expert team is a smart choice.

Better resource management

Most businesses do not have a consistent workload for their back office team. For example, during tax season, the back office team may have to work overtime. This company will have to increase its employee compensation to account for the extra hours. While in other months, the back office team may not have much work at all. Regardless of the workload, the company will have to keep paying them a certain salary.

With outsourcing, you can utilize the services as per your requirements. Most outsourcing companies require payment on a project-to-project basis. You can hire them during a busy season and keep away from back office expenses when the business is slow.

Easy scalability

Depending on your clientele, your company may require additional back office staff. Or, you may also need to lay off a few employees if there is no business. With an in-house team, it is difficult to do so every time your clientele changes. Back office outsourcing provides easy scalability options.

These services have a team of experts working on different projects. You can always increase or decrease the amount of work assigned to them and pay accordingly. By outsourcing, you can improve your clientele without worrying about finance and data management operations.

Better expertise, services and technology

Back office functions require more than just trained staff. If you handle large amounts of data every day, you will need specific tools and software to make your back office functions more efficient. For different operations, you will require additional software. These tools can be expensive and add unnecessary expenses to your company's budget.

You can also choose to host your data on the cloud to make it accessible to you at any time. This keeps you in the loop with your back office operations while also leveraging the benefits of outsourcing. Data storage on the cloud also ensures that your data is secure.

Outsourcing services have a variety of software available with them. Companies like KriyaGo can also integrate features from multiple software to fit your requirements. This can save costs of buying and training staff for different digital tools.

Investment more time in other business functions

Outsourcing services take care of everything from employee training to payrolls. This reduces the burden of managing an in-house team. You can focus on other business operations such as marketing and data analysis. Tasks that increase the company's revenue, such as market expansion and product management, require more attention.

Outsourcing frees up your time to concentrate on your company's growth.

Better business opportunities

With easily scalable back office operations, your company can focus on increasing your client base. Most back office services use software capable of bulk work. Whether it is payroll management or bank reconciliation, back office services can handle everything. As you increase your market reach, you can scale your back office operations accordingly.

Automate your back office operations through KriyaGo

At KriyaGo, we believe the back office is the backbone of your company. Our back office services offer you better software and expert resources at lower costs. By outsourcing to us, you can drive core functions, ensure data security and get better control over the operations.

Additionally, we offer other software solutions for property management companies. If you are looking to integrate the best features from various software, KriyaGo is the right place for you. We work with platforms like Yardi, Procore, and SAP Concur to build customized software for our clients.

If you want to get the most out of back office outsourcing, book your consultation with KriyaGo!