Commercial Real Estate and the Digitization Process

As has been discussed in previous articles, technology and digital innovations have come to stay. And the most important benefit is that they can help companies improve their specialty leasing processes, which are increasingly highlighted by the situation we are currently experiencing due to the COVID-19 pandemic.

A clear example: SERES, a leader of the electronic exchanges market for over 20 years, published a report that highlights the digitization of processes within the retail industry while taking the electronic invoice as a reference. Alberto Redondo —its Director of Marketing and Mass Market— stated that the commercial activity adapted very quickly to the use of electronic invoicing due to the simplification of procedures and the savings in costs and time that it supposes.

Even though the first months of the pandemic clearly altered the activity of the retail sector, during 2020 electronic invoicing has been fundamental in the year of the great outbreak of e-commerce. According to Redondo, this aspect —added to the reopening of physical stores and traditional shops— has allowed the sector to maintain its leadership position in the use of this technological solution.

Electronic invoicing is convenient due to the simplification of procedures and the savings in costs and time that it supposes

This growth in the sector is not only limited to retail: the entire commercial real estate industry is undergoing digital transformation processes. Consequently, simplifying processes and optimizing times is an essential part of the business. As Oscar García Marín, Commercial Director at Book A Corner, said in our interview Facing the challenges through digital transformation: “The rules have changed and the KPIs that technology allows us to apply at present let us start different conversations between retailers and tenants. Therefore, we should consider and apply this when working with new technologies.”

The entire commercial real estate industry is undergoing digital transformation processes

At BAC, we understand the need and importance of implementing digital solutions, such as adapting to new customer behavior and digitizing payment and contract processes. Accordingly, we centralize each component and actor in one comprehensive specialty leasing process, from its beginning to its termination:

• Requests

• Bookings

• Invoices

• Performance

• Assets

• Spaces

• Advertising Spaces

• Tenants

• Landlords

With this in mind, we can help you to display your spaces in a branded online platform in a simple and safe way, giving you visibility and the opportunity to show your available units, spaces and advertising areas within the shopping centres, while connecting with potential new tenants and improving the customer experience. Likewise, BAC allows you to manage thousands of requests at the same time in one tool and open a fast, direct and fluent bidirectional communication with your clients and prospects, so that you can also keep everything traceable from the initial request to bookings.

As you can notice, we choose not to leave anything to chance. Instead, BAC helps you to be more effective and adapt to the new era of digitization. Stay tuned to the following articles where we will explain in detail each of our functionalities!

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If you want to know more about Book A Corner, please contact us here.

+34 637 74 79 17