Real Estate Journal — Owners, Developers & Managers — June 28 - July 11, 2019 — 3B
M id A tlantic
O wners , D evelopers & M anagers New technologies changing the way property managers do business Mobility drives immediacy and responsiveness in the CRE World
usinesses throughout the U.S. have become increasingly depen-
estate enterprise and financial data. This is achieved through open APIs (application program interfaces) and a well-assem- bled commercial real estate tech stack that eliminates barriers and enables the effort- less interaction and sharing of cloud-based applications and services. Robust lease abstract- ing, utility and tenant service billing, payment processing, and tenant screening are just a few of the features designed to make day-to-day management tasks automatic and convenient within the office or from the field.
Subsequently, the growing use of data analytics ranks as one of the property man- agement industry’s leading trends. Knowledge is nice, but the ability to quickly decipher all the details to make cogent, thoughtful decisions that ben- efit customers and users alike is even better. This includes transforming data sets into story-telling narratives that can be readily accessed, reviewed and retold from anywhere in the world with one or two mouse clicks on a single remote device. It also means capably dissemi- nating this protected data to
authorized individuals though the use of mobile applications that enhance worker produc- tivity and deliver personalized customer experiences. Mobility also represents the next stage of evolution for real estate professionals looking to stay on the good side of clients, owners and tenants. Immediacy is no longer an option or luxury. People want answers and they want them now. There is no place to hide in a world where everyone is accessible 24/7 via text, email or cellphone. That is the value of mobil- ity: the ability to turn smart continued on page 4B
Increased Analytics for Enhanced Productivity What does the mobile revolu- tionmean beyond worksite agil- ity and streamlined processes? Consider this statement: “Ninety percent of the data in the world was generated in the last two years alone,” according to Technative. This incredible pace will only continue to ac- celerate with the growth of IoT. The problem is no longer the generation of such detailed, complex information, but the humanization of details into qualitative and quantitative information that is both easily accessed and managed.
dent on the mobile world. As commer- cial property l a n d l o r d s work to at- tract and re- tain tenants within this context, tech-
savvy millennials are among the new school of decision-mak- ers when it comes to site selec- tion, and they are looking for the latest high-tech solutions. This includes mobile services that extend from online bill paying and work order manage- ment, to simply text messaging with a property rep with any questions or building issues. As a result, the ability to deliver superior customer ser- vice is now a prerequisite for competing in this space – re- gardless of property type. Ad- ditionally, practitioners must streamline tasks with a more creative, transparent and in- stantaneous approach to com- municating with tenants and property owners, retrieving and analyzing historical data, and sourcing and closing deals. Today’s CRE technologies are not only changing the way property managers do business, but the very activities they perform on a daily basis. The routine collection and input of data has been replaced by a more substantive, analytical function. Rather than spending hours gathering information, property managers are now more prepared to meet and exceed customer demands with the wealth of analytics stored on their computers and avail- able through all forms of mobile devices. This entails the in- stantaneous access of informa- tion ranging from stand-alone property, accounting, vacancy and project management infor- mation to reporting, budgeting, valuation and contract manage- ment details from nearly any remote location. Cutting-edge Cloud Services The most cutting-edge prop- erty management/accounting systems offer industry-spe- cific solutions for multifamily and CRE owners and manag- ers. They seamlessly support multi-cloud integrations with other best-in-class software products, while also serving as a “single point of truth” for capturing and processing real
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