To state the obvious, the last few years have seen the market mood go from boom to subdued. Despite this, Scott Keck, Chairman of Property Advisory Firm, Charter Keck Cramer encourages those working in the property industry to stay the course - and hold on tight for conditions to improve.
Business leaders want three things in 2022: growth, digitalization and efficiency. Cloud software increases productivity and helps improve cash flow. It also offers additional benefits, such as the ability to access data from anywhere, anytime and on any device, and it brings all the daily activities into one centralized workspace for easy collaboration. Cloud software is designed to enhance the user experience, so it can provide tenants with value-added service. Additionally, with automatic data backups, which can be set to run daily, it eliminates the risk of a system failure, while providing leading-edge data security measures to keep data safe. With a pay-for-what-you-need model, it lowers the total cost of ownership and allows managers to scale to meet their needs now and into the future. Where are leading commercial property businesses focusing their attention? Property management and accounting are two mission- critical areas of a business. But are they operating in sync or in separate silos? What would it mean for your commercial real estate business if you could completely integrate property management tasks with your accounting function – in real time? It sounds great in theory but often is hampered by a disconnect between departments due to teams working from different information. Commercial landlords and property managers are now picking the programs that best meet the needs of each of their teams and connecting them in a specialized, fully integrated ecosystem – essentially creating one super platform. This Swiss Army knife approach maintains data accuracy and integrity across all departments while being flexible and scalable. What is the Connected Cloud? The connected cloud, otherwise called an integrated best-in-class ecosystem is a network of SaaS products, chosen by you, that meet the exact needs of your business, both now, and in the future. You are able to start small and expand your software as your business grows, change out services that aren’t working for you and choose software tools that are designed specifically for what your different teams require. There is no need to commit to over-engineered “all-in-one” solutions that you need to change in the future, the connected cloud meets you where you are, and delivers specifically to your requirements. When it comes to property management if you try to be everything to everyone you will undoubtedly end up not serving one part of the party correctly. Accounting is complex with regional differences and over 100 different types of reporting standards. It needs specific tools, as does property management. An all-in-one approach is like using a lawnmower to cut your hair, it won't work as it's not the right tool for a specific job. By using an integrated ecosystem you are able to select the best property management platform, the best accounting software, the best email platform, and connect them together to work as one. The benefits of this include: