Serving over half a billion square feet of commercial office space, we understand the key to effective reporting and budgeting relies on integrating the right technology for setting, reporting and benchmarking operational goals.
It comes every year. Budget Season. If you are like many property owners and managers, you are beginning the planning process for 2018. As the property management industry becomes more data driven, owners and asset managers are placing more emphasis on budgets that use the latest technology to produce results.
Using technology driven budgeting tools helps owners and managers stay organized, streamline operations, and ultimately generate the kind of data that strengthens decision-making. Taking innovations from past decades to new levels, technology continues to enable better comprehensive analysis, generate accurate long-term forecasting, and help commercial property entities work more efficiently with the benefits of reduced risk, portfolio growth and profitability.
Tech is great but it has to be easy to implement, ready on day one, and must have a compelling value proposition.
– Brad Simpkins, Senior Director, Asset Management, TIAA-CREF
Some research suggests that property owners fail to properly, or sufficiently, introduce new technology to their staff. Whether adding new software, new systems, upgrading current technologies or switching vendors, developing a training program that reduces disruptions is critical to successfully integrating new technology at a property.
It is proven that building teams that are able to quickly acquire and exploit new technology will gain a competitive advantage in the market, and best to handle shifts in tenant demands.
Keys to Successful Technology Integration is employing providers whose:
- Platform is easy, scalable, and working on Day 1
- Software/ Tools are turnkey, accessed on multiple platforms (mobile-ready)
- Customer Service is available and accessible with short turn around times
- Value Proposition is meaningful and provides immediate ROI
Utilizing comprehensive tech tools that incorporate usage data, reporting, and benchmarking that integrate into the budget mix provide owners and operators a comprehensive view of the overall health of a property – something that is key to budgeting and forecasting for future growth.
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