Real estate has always been a traditional sector, but now every industry has adopted digital solutions to boost agility, transparency and effectiveness. The digitization path is beginning and the sooner CRE parties embrace it, the more they will succeed. We know innovative solutions may seem hard to use, but we should see technology as a strategic advantage. Starting now will be essential to ensure the organisation’s ability to be competitive in the future.
The sooner CRE parties embrace digitization, the more they will succeed
All industries agree on the pandemic being a major driver for digitization. In fact, many businesses were allowed to operate and be competitive due to digital alternatives. Think about how many spreadsheets, manual labour, documents and bureaucratic procedures a commercial real estate used to imply. Time is of the essence, now more than ever, so why shouldn’t we leverage the perks of this digital era. Evidently, simple and fast deals save a lot of money ―and many headaches!
What could technology do for the CRE sector?
- It can significantly automatise major processes and workflows;
- provide shorter transaction cycles;
- ensure more transparent reporting;
- bring greater portfolio visibility from anywhere;
- reduce deal transaction times;
- and even allow for new business models.
Process automation and performance management are key and make the real difference between analog and digital processes.
The need to digitise may not seem imperative, yet it is a real game-changer. Most CRE executives embrace new technologies and never look back. Data management can be crucial to focus on relevant information and centralise it, even during collaborative efforts. Just a single CRE deal implies leads, messages, special requests, customers, building availability, parking and storage areas, executive details, terms agreements and contracts. Concentrating all critical information saves time and confusion.
Concentrating all critical information in one place saves time and confusion
Getting instant information and constant updates on operational performance across workflows rapidly translates into cost-effective improvements. In addition, it fosters customer satisfaction. Not only are we witnessing changes in solutions and processes, but also in clients’ expectations and demands. It is vital to take these new perspectives into account, collect feedback and insight to attend to those needs and provide a superior experience for each lead.
PropTech is definitely setting the stage for the future of real estate affairs
Real Estate Technology, also called PropTech, is still a rather new concept, but it is definitely setting the stage for the future of real estate affairs. This new sector is disrupting traditional processes and optimising regular workflows. It is no news that most industries face shortages of skilled IT staff or are not adequately staffed and need more technical resources. Therefore, a fintech partner could provide all the digital solutions and support necessary for the landlord or company. Let us know which are your doubts or worries and we will be happy to remove them.
