Automation is sometimes a scary word, often associated with robots and dystopian future. There’s a common fear that automation and robots will take over jobs and displace people which is actually not what technology is on track to do. Less than 10% of jobs can actually be fully automated, however automation can be a great help to office workers when leveraged by companies to help improve their staff performance and overall reputation.
As your property management grows in terms of portfolio size, staff, or revenue, it is increasingly important to have the right protocols in place, especially within the accounting department to ensure that every transaction, task, and process is done consistently and securely. Organizations with data monitoring controls in place had 54% less loss than other organizations and more than 50% faster detection time. Internal controls and compliance protocols regulate workplace transactions and avoid internal errors by minimizing the risk of fraud by maintaining data integrity as well as user accountability.
Having vacancies for too long can be bad for business, they can reduce cashflow, customer satisfaction, and employee morale. No matter how well you advertise or how well you maintain your customer relationships there will be turnover and vacancies. While it’s less than ideal, it’s not an impossible situation, here are 5 strategies to reduce the time units spend vacant.
Mobile CRM (customer relationship management) technology is a platform that enables frontline staff to conveniently access CRM software and functionality from any internet-enabled mobile device from smartphones to tablets. The CRM market has experienced unprecedent growth globally, by 2023 Satista projects the CRM software market to grow $40.26 billion USD. Mobile CRM allows remote workers to interact with customer and prospect data to execute from marketing and sales to customer support.
The ability to make operations mobile enables property management teams to better adapt to the nature of their work. When software, infrastructure, and specific processes are designed for mobility property managers can work at home, in the office, on-site or anywhere in between which allowing them to serve customers promptly and comprehensively without lapses, gaps in information, or slow turn around times.
Remote teams require a different level of support from middle or upper management than stationary workforces. When operating remotely it becomes a lot more difficult to micromanage or focus on what each employee is working on in detail.
Cloud-based servers allow organizations to access their network and data on the internet instead of having to manage large and unsightly physical servers. The cloud facilitates access to important data therefore improving user-friendly capabilities and enhanced productivity. Approximately 90% of companies currently use some form of cloud services, there are 3 main levels which an organization can adopt cloud services that increase based on sophistication of the platform.
There has been an unprecedented growth of cloud-based software and SaaS platforms, Gartner estimated that cloud services would grow 17.5% in 2019 and continue to grow exponentially by 28% in 2022. The monumental movement to cloud-based software may have some property management companies weighing out whether or not there is enough reason to transition from self-hosted physical servers to a cloud-based SaaS platform.
Offering customers self-service capabilities is becoming an increasingly important element of the customer service toolkit. Whether it is in the form of an online knowledge base, a simple FAQ or a portal, Gartner Research predicts that by the end of 2020, 85% of the relationship between customers and businesses will require zero human interaction.
Extended reality refers to all the immersive technology or new realities. The relatively new technology marks a point of disruption in the world of real estate and property management.