Tom Wallace, CEO & Founder, Re-Leased
Being deeply involved in both SaaS technology and commercial real estate, I wanted to share the incredible journey we've taken at Re-Leased, building and connecting technology to drive positive change in commercial property management.
The catalyst to create Re-Leased actually started with my own firsthand experience of working in the commercial property management industry and having the frustration of using software that felt like it was from the Windows 95 era. I knew there had to be a better way, but the available options didn't fully embrace the digitally-native world that we live in today. Since then, I have embarked on a decade-long journey to create something truly revolutionary. The path wasn’t devoid of challenges, but with every roadblock, we learned, adapted, and grew.
My ambition was to design a platform that breaks free from old-world thinking and fully embraces the potential of the digital age, helping modernise the industry. We wanted it to be cloud-based, mobile-friendly, driven by automation, enhanced by the power of artificial intelligence, and, importantly, designed to connect with other software to give our customers choice and flexibility.
We're excited to continue pushing the boundaries, making property management more efficient, seamless, and dynamic than ever before.
Our purpose is to power commercial real estate – the backbone of our community – through technology so that the people behind the property thrive. Underpinning how we do this is moving away from the idea of a single app trying to do everything and, instead, embracing a connected ecosystem of specialised applications. With advancements in cloud-based technology and modern APIs, we can share data seamlessly between different software solutions, tightly embedded, where everything talks to each other. This means our users experience a unified and comprehensive platform.
In the vast landscape of commercial real estate, there is an overwhelming amount of work to be done. The software provider of old often tried to pull all these different activities into one all-encompassing solution. These offerings ended up being spread so thin that they became a jack of all trades, master of none. Unfortunately, this outdated approach leads to poor user experiences, time-consuming processes, increased risk, and negative impacts on tenants and employees, resulting in higher costs and inefficiencies.
We have focused purely on nailing commercial property management. By narrowing our focus, we can concentrate on perfecting that one specific piece of the puzzle — making the complexity of property operations simple and bringing in best-in-class apps to deliver other components of our Connected Cloud Ecosystem. It was a transformative decision that allowed us to excel in our area of expertise while benefiting from the excellence of other companies focused on their respective specialties and continued to rapidly innovate.
We partner with best-in-class business tools like Stripe for payments, Outlook 365 for email, and leading accounting apps like Xero, Sage, QuickBooks, Microsoft BC. Re-Leased stands apart from others who say, “we integrate with Xero” because we're built with robust internal property accounting principles at our core. This means we deliver a first-class experience when connecting with other accounting systems. We talk the same language and have the closest connection with it — everything syncs two ways, and your work is constantly updating across apps as you go.
While the accounting apps do the general ledger accounting, we have embedded property accounting, such as sending invoices, budgets, payments and more. One of the most significant advantages of our connected CRE ecosystem is the ability to consolidate all data into a single system of record. In the past, critical information was scattered across various platforms, leading to inefficiencies and data loss. But with our integrated approach, we ensure that all data flows freely and is easily accessible. Property managers and owners no longer need to dig through old emails or struggle to locate essential information. Everything is organised, filed, and readily available, empowering better decision-making and streamlining operations.
At Re-Leased, we embody the philosophy of "Better Together." We actively seek out app partners who bring additional value to our customers by being the best in their respective categories. However, we are also careful and selective, ensuring that integrations go beyond surface-level connections. Deep integration is our priority because it fosters seamless data flow and delivers tangible value. By working together as a cohesive ecosystem, our clients’ teams can focus on their respective areas of expertise, knowing that data seamlessly integrates with other systems, building trust and delivering comprehensive solutions. With the old way of operating, you might have a tool that does accounting well, but the property functionality is lacking so the property team suffers, and the finance team doesn’t want them in that system. Or you might have a good property system, but absolutely no presence in mobile or no roadmap or plan for AI.
The Re-Leased CRE Connected Cloud platform comprises three core components:
1. Modern Commercial Property Management= All in one connected hub
Tightly integrated + Powered by automation & AI + Enhanced with insights = Compounding operational gains
These elements come together to create a connected ecosystem where specialised solutions seamlessly integrate. Data has become a crucial asset, and we are eager to leverage advancements in portfolio analysis and AI and unlock its full potential. With accurate and live data flowing through our platform, we can revolutionise the industry and provide our customers with a platform that really is designed to drive sustainable growth.
We've designed Re-Leased to achieve productivity gains through automating manual processes and centralising data so you can visualise how to open new revenue streams or improve profitability. Change and innovation are big motivators for customers, and we help them use more functionality as their business develops. As an example, a recent client started by implementing Xero in their business which provided immediate improvements to the lives of their accounting team. Then they integrated that with Re-Leased, which meant the property team could carry out tasks in a property-specific solution while working with the same financial data. Building on that, they've continued to improve productivity by using the Tenant App which helps streamline and centralise all communications with tenants. They've also recently seen the benefits of using Invoice Intelligence to automate invoice processing. Previously, they had struggled to implement a sustainable solution for the significant number of invoices needing to be processed.
Contract bookkeepers often had to be brought in, which were hard to find, expensive to hire and often very temporary in the business. By leveraging new technology to automate invoice processing, their existing accounts team could easily handle the workload and even had extra capacity to move on to other tasks they had been wanting to do for a long time. This surge in productivity by using modern systems and connecting everything together is transformational for this commercial real estate business.
As we continue to evolve, I am excited about the possibilities that lie ahead. We’re continuously innovating, looking ahead, but also refining what we have today to make sure the system makes the lives of our customers easier and better.
