Blog tagged as real estate technology

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 bu...

Common Area Maintenance (CAM) reconciliation seems pretty simple at the outset. You just add up your costs and pitch them against your budget to close your books. 

However, the reality is far from this ideal picture. Most real estate agencies are left scratching their heads trying to figure out ...

Most real estate agencies rely on their back offices for day-to-day accounting. The list of tasks covers a wide range of verticals, from vendor payments to employee reimbursements. 

As a result, the back office requires considerable resources and hours to do its job efficiently. 

However, mo...

COVID-19 came as a shock to most businesses. Entire industries suffered a lack of demand, while supply chains became more fragile than ever. 

Worst of all, many companies had to down their shutters faced by dwindling sales. 

However, one thing emerged as a positive factor to make many busine...

More companies are looking to outsource most of their business functions. According to Fortunly, about 54% of companies use third-party services to interact with their customers. While cost-cutting is a common outsourcing goal, companies have their own reasons for outsourcing. Some want special...

Real estate firms incur expenses just like any other business. According to the National Association of Realtors, real estate agencies have a median business expense of $6,290. 

As a result, it makes sense to manage your expenses to derive more value. It will help you gain control over your busi...

Property management is a demanding job. Unlike a 9 to 5 job, managing properties requires you to work at your client’s convenience. On top of that, property managers also need to handle marketing, legal work, maintenance, and other tasks. Looks challenging? You can overcome most of your business obs...

Running a business is not a simple task. Entrepreneurs have to handle countless workflows and processes every single day. On top of that, they also have to manage the company's IT operations and digital needs. 

At times, things go beyond the capability of entrepreneurs to man...

Gone are the days when real estate agencies relied on paper processes and spreadsheets to manage expenses. Today, most of them have switched to expense management software to streamline workflow and improve productivity. 

Are you wondering if you should make a move too? Do you need more informat...

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 on...

The Covid-19 pandemic brought unprecedented changes to every global industry--including real estate. Companies are making up for the lost time by rethinking their work strategy. As more employees have started working remotely, property managers are also considering outsourcing.  

Outs...

Common Area Maintenance (CAM) reconciliation sounds simple. Just add up all common area expenses and divide them among all the tenants. But in reality, it is a complex and time-consuming process.  

You might miss certain expenses or end up overcharging your tenants. Additionally, any ...