Case Study

Digitally Transformed Solutions to Solve Real Estate Business Challenges

Introduction

This case study demystifies the crucial business challenges, including data, operational, financial, reporting, accounting, sales, and communicational issues faced by the real estate industry. Then it reveals the centralized IT solutions that can hugely help REIT professionals to overcome all those challenges.

Challenge

Dispersion of Data, Business Processes, and Communication

The commercial real estate industry faces so many challenges due to a lack of technology resources. One of the biggest challenges is to manage and visualize the ample amount of data with no centralized solutions. Usually, the data coming from different tools is scattered through different departments. So, the information gets siloed in dispersed locations, and it becomes complicated for executives and directors to have enterprise-level collaboration on each and every project. Furthermore, keeping track of processes and having centralized teamwork also gets highly challenging for various teams. 

Solutions

The Centralized Solutions for Real Estate Firms To Standardize Data, Processes, and Communication

Digitalization is transforming the traditional ways of managing business processes in the real estate industry. Numerous manual tasks and processes are now being automated and simplified through ingenious technologies. Some of the biggest technologies that are playing a big role in this transformation are provided by Microsoft. It is fascinating how real estate businesses can get extreme benefits from customized solutions offered by Microsoft consulting firms. 

 

Real estate investment trust (REIT) solutions are entirely designed with property managers and investors in mind. Rather than simply modifying existing tools to accommodate specific real estate processes, the innovative technology offers a developed solution tailored to the specific needs of real estate professionals.

Data And Process Centralization

There are various data centralization solutions that allow the entire REIT organization to work from the same platform. Discrepancies caused by dispersed data and disparate tools are avoided using these solutions. Marketing, operations, and brand reporting on the same metrics are all done with the same data and on the same platform, saving tremendous time and effort.

Increased Visibility

Greater visibility equates to increased profitability. You can have more in-depth views on expenses, agreements, and sourcing with the real estate IT solutions. It means that the entire organization will benefit from improved information sharing, faster communication, and more informed decisions. It significantly improves overall efficiency and accelerates decision-making.

Communication Simplified

All sides benefit from a deeper understanding of the information when communication is simplified. The REIT solutions offer an effective collaboration platform that can help you and your employees develop a positive working relationship, improving morale and productivity.

Data Monitoring

You can easily track the sources of traffic. Understand your visitors' needs and preferences. Maintain performance management measurement and monitoring by tracking progress with a continuous data stream. Monitor the changes in real-time by conducting regular customer surveys and collecting feedback on how awareness, perspective, and fulfillment have evolved.

Lower Human Error

Use business process automation remedy for human errors. Many business process automation solutions are designed to eliminate human errors. Automation helps businesses implement effective and proper workflows for better rebate management, significantly improving conformity, audit trail, and efficiency, and reducing mundane tasks.

Enhanced Efficiency

You will experience chaos if your business functions are not standardized. As a result, these solutions provide strong automation to your business processes, eliminating the need for manual labor. You can relax knowing that your employees are following a well-established, time-tested protocol. They can eliminate uncertainties and guesswork, boost productivity, and improve morale among employees.

Key Metrics Monitoring

Tracking the metrics that are most important to your business and managing internal operations based on the results enhances the likelihood of your organization's success. The reporting tools offer customized reporting and analytics to real estate managers, assisting them in identifying key metrics. It is the most effective method for determining your company's strengths and flaws.

Notifications and Alerts that are Automated

You can track the progress of your online activities and gather updates for various events using REIT process automation solutions. You can reduce financial risk and improve business and employee performance by incorporating efficient business alerting and notification capabilities into all of your business applications.

Robust Portfolio Visualization

There are interactive property dashboards available that can be used to enhance the search and visibility across entire portfolios. Real estate stakeholders can have enriched portfolio visibility through a user-friendly interface The solution can also offer real-time insights into property availability for particular areas along with an all-inclusive portfolio map.

Automated Deal Tracking

Keep track of every transaction in your sales funnel, from leads to completed deals. Simply move deals around in your sales stages by and filters to have customized views. It has never been simpler to stay organized due to smart task workflows. Collaboration across teams, partners, and existing tools is seamless within the deal tracker platform, saving significant time to close more deals.