Modern-day property management software has made real estate processes easier. With several options, real estate companies struggle to make the right technology choices. Proper planning of business goals can help you define your technological needs. If you want to automate several processes, then one of the best options is software integration.
Integrated software is cost-effective and has the benefits of multiple software in a single platform. Through the right strategy, you can use integrated software to simplify real estate activities. Here are some of the best ways you can use software integrations to manage your work.
1. Better data flow
Data synchronization is one of the most important outcomes of real estate software integration. Real estate processes are interdependent and benefit from smoother data exchange. For example, if you use a separate CRM software, then your sales software cannot target the relevant leads due to the lack of data. Instead of manually entering data from one software to another, you can opt for integration.
Unlike individual platforms, using integrated software requires you to enter the data only once. All property management processes can function through this single database. Whether it is CRM or accounting, all systems can exchange data among one another.
2. Improve data quality
Software integration reduces repetitive tasks such as entering the same data in different platforms. Such data entries can duplicate and make the whole system inefficient. Eliminating redundant tasks not only saves you time but also impacts the data quality. Why does this matter? According to SiriusDecisions, organizations can get up to 70% more revenue with better data quality.
Reducing duplicate data, organizing the information, and cleansing the data regularly are some steps you can take for high data quality. All of this can be easily achieved by integrating your real estate software.
3. Reduce cost and investment
Varying business needs drive property managers to invest in multiple similar software. While the tools, as a whole, can meet the business requirements, most of them also have several features which go unused. Real estate integrations allow you to spend on only those features required for your business.
Another way you can reduce technological costs is by integrating old and new software. Most platforms release updated versions with new features. Discarding the old one and moving all the data to the new software can be expensive and time-consuming. Instead, you can integrate both of them for easier data transfer and also get a smoother transition.
4. Improve security and compliance
Repeated data transfers using internal or external agencies pose a threat to data security. Most of your software contains financial information, documents, and other sensitive data. Risks with data transfer involve accidentally sharing access credentials and data deletion.
Integrating software eliminates unnecessary data transfers. As the data is stored in only one place, it is also easier to back up and restore whenever required.
5. Better tenant management
Accessing all tenant information in a single place makes tenant management more effective. If your rent payment details are saved in one platform and maintenance details in another, then managing tenant information becomes difficult. By integrating tenant portals and accounting software, you can save all tenant information in a single database.
Doing so makes it easier to keep track of rent payments, maintenance requests, and other information. It is also easier for your tenants to access all their data in a single place.
6. Improve lead generation
This is one of the most important goals of every organization. According to IDG Enterprise, 68% of marketers find generating high-quality leads a challenge. While most organizations manage to find relevant leads, they fail to keep them interested because of inefficient follow-up processes.
To effectively nurture leads, you need to have the right information on each prospect. Collecting data for lead follow-ups can be tedious if you do not use integrated software. If you have a single database storing all prospect information, then you can nurture them better through strategies like email and content marketing.
7. Accurate data analysis
Data analysis is the future of the real estate industry. It can help make better investments, improve tenant satisfaction, and generate higher revenue. A report by Deloitte has emphasized the value of data analysis and urged real estate services to “evolve from building and systems management to integrated management of spaces.”
Data isn’t useful if it is scattered across various platforms. Data collection for accurate predictions can be achieved through integrated systems. Changing the way you manage and store data can have a huge impact on the predictive power of your business.
8. Customize automation
Off-shelf real estate software is designed keeping in mind the broad requirements of companies. If you want something specific, then customizing your software is an excellent option. But, instead of building new features suitable for your business, you can utilize existing features from different software.
This makes customization easier while allowing you to design software based on your requirements.
9. Manage portfolio
Managing your real estate portfolio is important if you want to market yourself better. Having an organized portfolio creates a better impression on your client and also makes it easier for you to communicate. Integrating software lets you display all your products and services in a single place. This is a hassle-free approach to brand marketing and visibility.
10. Optimize communication
Finding it difficult to send the right information to your tenants or clients? Try integrating software to manage data easily. For example, by integrating tenant portals with your payment software, you can easily send rent invoices and receipts to your tenants. Similarly, tenants will also find it easier to send you information through a single platform.
Make the most out of real estate integration through KriyaGo
KriyaGo understands the many benefits of integrating real estate software. Whether you want to upgrade your software or just add new features, we have solutions to suit your requirements. Our experts work with platforms like Yardi, Procore, and SAP Concur and offer unique insights for software integration. We support you throughout the integration process with data integration, training, and more.
To start with real estate integration, reach out to KriyaGo!
