When the topic of technological advancement arises, commercial property management isn’t typically the first thing that comes to mind. Slowly, but surely, however that is changing. In fact, more and more property managers are turning to automated processes and streamlined systems to improve operations and their bottom line. Let’s take a closer look at several ways, both large and small, that commercial property management firms are leveraging technology to their advantage.
Commercial property management software is designed to make people more productive by shifting the tedious, time consuming and repetitive tasks from human to machine. Not only does this free up employees to focus their efforts and expertise on more important business activities, but it also dramatically reduces the risk of human error. This results in much leaner and more efficient operating practices, enabling companies to do more with less.
Improve Tenant Experience
By boosting the productivity and subsequently the satisfaction of your employees, tenant satisfaction also naturally improves. Another way technology is changing the commercial property management industry is in the way that tenants are able to interact with their property managers. For example, the ability to run reports at the click of a button or remit payment via electronic web portal are just two of the many ways that corporate tenants are taking advantage of today’s technology.
There is a gargantuan amount of data in the world today, much of which is unstructured. The only way this data can be made useful is for it to be adequately collected, thoroughly analyzed and property organized. For a human to perform this cumbersome task it would be nearly impossible. That’s where technology is making another significant impact. The right tool can effectively take massive amounts of data, extract only what’s of value and organize that information so that it can be utilized for the benefit of the business.
If there was ever a business that was heavily laden with documentation, commercial property management would be it. Shuffling physical paperwork is not only time consuming, but it’s also a practice that is wrought with risk. Instead, forward-thinking property managers are leveraging software to handle their documentation needs. Everything needed can be found at the click of a button, improving both customer and employee satisfaction.
Beyond the gathering, sorting, analysis and organization of data, turning that information into something that is easily understood and put to use is equally important. That’s where data visualization comes into play. Technology can now turn mountains of data into neat and visually appealing things like charts and graphs. This makes it far easier to take the information gained through data analysis and turn it into actionable insights that can propel the business forward.
The commercial property management industry may be a bit of a late bloomer when it comes to adoption of advanced technology, but as they say - better late than never. Today’s most successful firms are embracing tech for all of the benefits above and so much more.
If you’d like to experience how technology can help bring your property management business to the next level, request a free demo and we’ll be happy to show you the ropes!