It’s easy to think that Enterprise Resource Planning (ERP) systems only work in manufacturing or product-based businesses, but there’s major benefits for using ERP in real estate business. Streamlining processes for the management of sales, compliance, marketing and property management all integrated into one cohesive system together with financial management.
Managing Rentals
If you are a real estate business with numerous rental properties, you need to be confident in your inventory management. The many property types such as apartments, houses and commercial premises can become a mess of data if it is not managed properly.
Management of tenants and leases, including renewal dates, complaints and maintenance can all be stored within the ERP system. Because the system is integrated, there will be no double entry required.
Managing Financial Data
ERPs give your business a clear overview of your financial data, assisting with long-term planning. Dashboards and reporting provide you with an ‘up to the minute’ view of business operations.
You can easily track profit/loss, balance sheet, and cash flow, as well as an overview of current debtor days. In addition, you can manage maintenance contractor payments, as well as tracking the procurement of supplies for properties. If your business manages new apartment block constructions, an ERP system can also track the project, for on time and within budget.
Connectivity & Better Communication
At property viewings, a property manager with a tablet and cloud-based ERP gives them access to all of your properties, floorplans, and financial data, a win-win situation for your agency and the client. Could this be the difference between closing a deal and the client getting ‘cold feet’?
Using an ERP will streamline the communication between your office staff, tenants, landlords and maintenance contractors. Gaining approval for maintenance is faster and better documented, with all parties receiving automatic notifications.
Up-to-date Data
Property managers have to deal with multiple business units and large volumes of data related to sales properties, rentals, leases, payments, landlords and tenants.
It is important that all client data is stored safely, but it needs to be easily accessible. Using an ERP means all your data is stored in one integrated platform which can be accessed and managed at the click of a button.
Forget using spreadsheets, an ERP system enables your team to find the required data instantly. In addition, any data changes are transparent, ensuring better security and minimising the risk of a data breach.
Acacia has more than 30 years of providing business process management solutions to businesses, with experience delivering ERP systems within the Real Estate Industry and understanding the many facets of an Agency.
We see our role as optimising and improving the operations of your business. If you are interested in finding out how Acacia can help your business, please contact us to find out more.
