A majority of businesses, including real estate, were still relying on paper processes before the pandemic. It needed employees to manually collect, sort, and manage documents and files. 

Let’s take the example of the accounts payable (AP) process handled by the back office. You have your invoices arriving by mail that need sorting. Then, you need to add the invoices to your accounting systems and verify information manually. 

Some businesses rely on a property management tool but still handle some paper processes. In addition, making payments also included manual paper processes. 

You have to write your checks, put them in envelopes, and mail them. 

Fortunately, the back office teams were able to streamline and reduce paper processes. They worked hard to replace paper spreadsheets with cloud solutions that allowed access on the go. 

As a result, suppliers could upload invoices directly or submit them through emails. Additionally, they integrated their disparate tools to create a single source of truth. 

It eliminated duplicate entries and errors to improve data accuracy.  

Every real estate business has activities that require different areas of expertise. If you manage every task through an internal team, this can be expensive. According to the Association for Talent Development, organizations spend an average of $1,252 on training a new employee. For every additional employee you hire, the cost multiplies. This drains the revenue that could be used to develop other real estate tasks. 

By outsourcing, you can skip the training phase to directly access industry experts. Service providers have trained staff to handle outsourced tasks. This gives you the benefit of hiring an expert by spending only a fraction of the money. This money can instead be directed towards business-growth initiatives.  

VoIP systems come with extensive features that are suitable for small and large businesses. One such feature that is commonly used is the conference call. VoIP comes with built-in features that allow you to call multiple people at once. In addition to video conferencing, it also lets participants share documents and files within the call, making the discussions easier and fruitful. This feature is especially beneficial as more businesses are relying on video calls for office communication. 

Another popular feature used by over 77% of businesses is the find me/follow me feature. Through this, you can ensure that your business calls always reach you, no matter where you are. The find-me/ follow-me service directs business phone calls to a single device or location.  

For example, if you are away on a vacation, you can direct the calls to your personal phone without purchasing additional equipment. All you need to do is set up the VoIP app on your phone and choose to take calls on your device. You can also direct calls to multiple devices, which is helpful if you often work from different locations.  

Every real estate business has activities that require different areas of expertise. If you manage every task through an internal team, this can be expensive. According to the Association for Talent Development, organizations spend an average of $1,252 on training a new employee. For every additional employee you hire, the cost multiplies. This drains the revenue that could be used to develop other real estate tasks. 

By outsourcing, you can skip the training phase to directly access industry experts. Service providers have trained staff to handle outsourced tasks. This gives you the benefit of hiring an expert by spending only a fraction of the money. This money can instead be directed towards business-growth initiatives.