Imagine a situation where your team has to make a decision but you don’t have real-time data in hand. Your team might be scattered in different locations. The needed information for decision making is in spreadsheets and various files. How do you make good decisions in this kind of situation? One solution is to send those spreadsheets and files via email to every team member. Easy? Maybe. Safe? No. Fast? No. The data in these files could potentially be damaged and corrupted. In the end, decision making will be slow and complicated.
This kind of scenario is not an exception in property and real estate sectors. They are slowly, but surely, developing fields where more and more automated solutions are invented to make property managers and real estate professionals work days a bit easier. The amount of data they have to go through on a regular day might be a lot to deal with – there might be various forms of data like lease agreements, rent rolls, the maturity of properties – just to name a few. This is where cloud applications like Assetti come in handy.
By using cloud applications, you can be sure that your data is always updated and you are also, well, up-to-date. Here are listed a couple of benefits you can receive from using real-time data.
Benefit number 1: Drive performance and growth.
Money may talk but data talks even more. Numbers don’t lie and that’s why we trust them. Sometimes we might trust them so much that we end up making wrong decisions based on them. One typo in a spreadsheet column can make all the information you’ve gathered, look wrong. That’s why using applications that update automatically the important data you need, will give you a reliable basis for making business decisions.
Benefit number 2: Solve issues quickly.
Property investors usually own several properties at the same time. Keeping up with all the issues that arise from, for example, tenants, can be hard if you don’t have a good data management tool in place. It’s important to keep your tenants satisfied because they’re your customers after all. With real-time data, you can react to issues and fix the problems quickly. Happy tenants, happy property manager – and happy property investor!
Benefit number 3: Make team collaboration work.
It’s undeniable that in business, you usually have to work with other people. That’s why emphasizing good team collaboration is important. No matter if you’re a property manager using property management application or a marketing manager using, for example, Google’s online tools, these cloud applications give your team real-time insights on the data you need. No need to send different files via email or Slack. This way every team member has the same updated data in hand, in no time.
So to conclude; automated data processing will grow your data reliability and hence lead to better decision making. If you’re interested to know how Assetti could also keep your property data updated and in real-time, read one of our case stories here!