KriyaGo - Blog #real estate integration

How To Select The Right Real Estate ERP Software?

Wed, 23 Mar 2022 09:00:00 -0400

ERP is a proven tool to manage your business proficiently. 95% of businesses that implement an ERP experiences improvements in business processes. In addition, 82% of companies that use an ERP generated expected ROIs within desired timelines.

As a result, an ERP is a great investment for any business, especially real estate agencies. However, how do you select the right real estate ERP for your business?

What factors should you consider?

Let’s find out!

Establish Your Needs to Choose the Right ERP

ERPs come with a range of varying features that differ based on industries. Therefore, you should select an ERP that is designed for the real estate industry.

In addition, go for a tool that aligns with your real estate sector. For example, construction businesses will need an ERP that lets them plan and manage projects.

On the other hand, agencies in commercial real estate will have different needs. You may want a solution that helps you manage all your properties from a single interface.

Therefore, consider your business and operations to choose the right ERP.

In addition, establish what you want out of your software. Or, determine the tasks or goals you want to achieve with your software. You can then decide the features you need in your software and choose the right option accordingly.

For example, you may want to rely on your ERP for:

Managing inventory
Create a single database of all your properties
Manage, sort, and report on finances

Automation of pre-sale process, like email replies

Look for High Customizability

Around 50% of all ERP implementations fail at the first attempt. One of the biggest reasons for the failures is the inability to tailor a solution based on your needs.

The truth is, there is no one-size-fits-all when it comes to choosing an ERP. That’s why we recommended determining your needs in the first step.

However, there is another step you need to ensure to make your implementation successful. Look for an ERP that you will be able to customize based on your unique business needs.

Otherwise, you will be left to use a solution designed with someone else in mind.

The best way to get past this challenge is to talk with your software provider. Tell them your needs and see if they can tailor their offering to meet your circumstances.

Focus on User Experience

Not all ERPs are made the same. Some are simple, easy to navigate, and let you focus on what’s important.

On the other hand, you may come across ERPs that make your life unpleasant. The problem is more common than you think, with user experience being among the top areas an ERP falls short.

As a result, it is necessary to select a solution that is easy to use. However, the management should not be the only one to make the decision.

Your employees are going to use the software after all; so, you should gather their feedback before making the final call.

Get a few employees to test the trial version or demo of the ERP you want to choose. You can then find out how good or bad the user experience is in a jiffy.

Additionally, you can research reviews of the software for more information.

Look for a Mobile-Friendly Real Estate ERP

60% of employees today use mobile apps to work productively. In addition, 21% of workers rely on department-specific apps to get tasks done.

The trend is pretty prevalent in real estate where you need to send employees to the field. From property managers to sales reps, most workers use their phones to work on the go.

As a result, your ERP should come with a mobile extension to facilitate work. It will allow your employees to work from outside the office and boost efficiency.

Best of all, you can even improve employee productivity by 34%. It will help you enjoy more returns from your investment along with your regular ROI.

However, ensure that the ERP you choose has strong security. It should be able to secure users, data, and processes without any exception.

Make Sure Your ERP is Interoperable

Real estate agencies use a range of tools to manage day-to-day operations. You may use a real estate project management tool to stay on track of your projects. In addition, you may rely on accounting software or expense management tools to manage your finances.

Some agencies may even use an CRM to boost leads and handle customers.

However, most of these tools are not interconnected. Adding a new ERP to the system, therefore, will not add much holistic value.

For that, you need to connect all your disparate real estate tools. As a result, look for an ERP that you can easily integrate with your existing apps.

You will be able to achieve seamless exchange of data and open the doors for new possibilities. In addition, you will be able to gain complete visibility across your business processes.

Choose a Real Estate ERP with Dedicated Support

We saw how more than half of all ERP implementations fail. Users also experience issues with usability and operational disruption.

As a result, it is better to be cautious and go for an ERP that comes with dedicated support. This is more important when you don’t have enough technical expertise in-house. You will need someone to resolve your queries and find your way around the new product.

Therefore, never select an ERP that has a questionable support team. You can always get in touch with your vendor and ask a few questions to test the support quality.

Final Thoughts

A real estate ERP is a great investment to streamline operations and boost productivity. There are several quality options in the market that you can choose based on your needs. For example, MiCasa is an apt ERP for real estate agencies looking to improve efficiency. It comes with all the vital features to grow your business and stay in control. In addition, you can be sure of ongoing support for your complete peace of mind.

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!