M id A tlantic Real Estate Journal — Owners, Developers & Managers — Property Management — February 19 - March 12, 2021 — 13C Property Management By Michael Mullin, Integrated Business Systems, Inc. Increase Efficiencies, Reduce Waste
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he cost benefit of going paperless and the ef- ficiencies afforded by
even speaking with outside vendors. This will help frame goals, while narrowing down the types of systems and ser- vices that would best meet specific business objectives. Then, ask the right ques- tions. Develop a checklist for providers that covers every- thing from current customers, costs, reliability, and security, to training and ease of use. Even ask about awards. Most quality suppliers will be happy to share these details as well as the honors they’ve achieved along the way. In addition, develop and
follow a plan of action with the involvement of represen- tatives throughout the com- pany. This will go a great way toward speeding the new sys- tem’s employ and acceptance. Also always remember that the best solutions are incorpo- rated with partners that have a vested interest in helping your company enhance ef- ficiencies, reduce costs, save time and increase profits. For even better results, please consider the following tips for ensuring the efficacy of your next technology investment: •Make it routine. Make sure
everyone at the organization is comfortable with the new technology as soon as possible. This will speed the integration process, while ensuring that each department is taking full advantage of system benefits. • Don’t choose technology that is more complicated than necessary; select solutions that are user-friendly both in the field and office. • Check out system ratings and reviews from third-party news platforms like Disrupt- CRE, CREtech and Propmodo. • Do a trial run. Most repu - table providers will readily
demonstrate their solutions under real-world conditions. This is a great way for gauging how the technology can posi- tively impact your company’s overall productivity, workflow, and success. Taking advantage of the multi-cloud world takes time and planning but the benefits far outweigh the costs. For- ward thinking construction and property operators are reaping rewards now but it is not too late, just start! Michael Mullin is presi- dent of Integrated Busi- ness Systems, Inc. MAREJ
cloud-based, r e a l - t i m e data access are well es- t a b l i s h e d . Let’s take the conversation one step fur- ther. T o d a y ’ s
Michael Mullin
best ERP systems enable users to take advantage of a multi-cloud world. This means multiple business applications and services in the cloud ef- fortlessly interact in a way that best serves individual users. Within this context, construction and development practitioners can adopt cloud platforms and applications that facilitate project manage- ment, property management, estimating, budgeting and valuation, AP processing, and document and approval management. The enterprise construc- tion management/accounting platform serves as the core of a well-assembled construction tech stack. Today’s most cut- ting-edge products allow other components of the stack to in- tegrate with this core, sharing data in real time to facilitate every aspect of doing business. In turn, the construction and development technology stack has taken shape with various tools designed to increase ef- ficiency and accuracy, improve opportunities for adding value, and enhance decision-making. Find the best solution for your business. Now, the hard part. Accord- ing to BOMA, there were 4,200 CRE tech solutions announced recently – up a staggering 20% from just last year! So, where do you begin? The search should start with the leading players. This includes technology firms that have a stellar reputation for support- ing the commercial real estate field for years, if not decades. You certainly never want to invest your most trusted and valuable corporate and customer information to a company that may not even be in business before the service contract ends. Next, understand your busi- ness needs. Enlist the input of key office and field personnel. Understand operational chal - lenges and the problems that need to be overcome before
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