Automated data processes are used to quickly and efficiently handle large amounts of information – with minimal manual human interaction. To this day, many real estate professionals are still relying on manual ways of processing data – using spreadsheets to be exact. Spreadsheet tools are OK when it comes to handling small datasets but with larger amounts of data, spreadsheets’ limitations are starting to show up pretty quickly. Why they should be wiped under the carpet and why taking new software into use, that automates your data processes, is a great idea?
Why we should reduce the amount of manual work in property business?
Reason 1: Data accuracy
First of all: if a process works manually fine now it’s not guaranteed it will work well after 5 years or even after one year. So here we get to the first point: data accuracy. When handling data manually there might appear some errors from time to time: typos, commas in wrong places etc. But if you import your property data in an online solution which has automated processes eg. through integrations to your exciting systems, your data will always be accurate and up-to-date.
In this case, the data will be exactly the same even though you’re transferring it between two different systems. Instead of seeking where some possible error is skulking in your spreadsheets, you have time to analyze your data and make decisions right away.
Reason 2: Speed
Automation, of course, enhances the speed of doing things. We’re not meaning you have to be super fast and sloppy when it comes to your property business but you can be more efficient with automated data processes.
In this everlasting race of improvement and development, speed is important. If you don’t have the answers right away, people will get them somewhere else. For your business’s own good, it’s crucial to have real-time and understandable data right at your fingertips.
Reason 3: Data access
By automating processes, you’ll also make data accessibility better. No need for sending emails with enclosure back and forth! All the data can be accessible in software for those you want it to be from property managers to asset managers, lease managers and every single stakeholder you want to have access.
Reason 4: Data visualization and KPI’s
Data visualization is something you can do with spreadsheet softwares and others also. Usually, the difference is that in automated softwares visualization is in-built – you don’t have to create the graphs yourself. Data visualization helps you to follow essential KPI’s and the easier the following and analyzing process is, the better the results are.
Would it be great if a software would visualize your data automatically and show essential KPI ’s eg. for vacancy percent, yield, maturity, and NOI?
Handling property data in spreadsheets or other systems may feel easy – but what if there would be a more straightforward way to do your job? Try out Assetti with our 30 days free trial – no credit card information needed, no commitments. Give yourself a chance to find a better solution for doing your work – 30 days ain’t much to try out for a better future.