OPERATIONS: INVENTORY SERVICES
How to Maximize ROI by Using Professional Real Property Inventory Services ORGANIZATIONS THAT DON’T USE PROFESSIONAL REAL PROPERTY PORTFOLIO INVENTORY SERVICES COULD BE HARMING THEIR RETURN ON INVESTMENT. MICHAEL NICHOLS
T hough real property inventories can be difficult to manage, some organizations hesitate to seek external assistance, assuming their staff has the knowledge and time to satisfy inventory responsibilities. This hesitation is often the result of misconceptions and poor previous experiences. For example, companies in the past would deliver property inventories and assessments as hard copies, making real property data difficult to use for decision-making. Because
COMMON INTERNAL REAL PROPERTY MANAGEMENT CHALLENGES There are several reasons why internal real property asset management can be challenging. ALIGNMENT WITH GOALS. For one, to align processes with organizational goals, it’s necessary to use a system that caters to the entire organization’s mission. For large-scale companies, this can include facilities, accounting, planning, and other departments.
old-school data processing provided limited access to underlying data, the accuracy and reliability of previous assessment results were dubious. Fortunately, real property inventory providers now use far more effective tools in their processes. As you decide whether to work with a real property consultant, it’s important to consider these enhanced tools as well as the unique demands real property inventory management places on internal staff.
48 | think realty magazine :: march – april 2024
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