Updating technology can improve productivity and provide new opportunities for your business. Alister Maple-Brown from Rockend explains.
The phrase ‘End of Financial Year’ often brings a combination of dread, stress and fear to the minds of many business owners. Another year has rolled by and we are already in the midst of the new financial year.
Was your tax time stressful and paper laden? If so, now is the time to evaluate your current business processes and technology to determine the best course of action for the new financial year. Taking the time to plan strategically at the beginning of the financial year can help ensure 2016 is your most successful and profitable one yet.
WHY INVEST IN TECHNOLOGY?
Over the past 20 years technology has transformed the business landscape. A day in the life of a property manager back in 1995 was vastly different to the daily regime of a property manager in 2015. It is hard to imagine what our jobs would be like without the aid of technology; I believe our property portfolios would be significantly smaller without these systems.
The initial upfront cost of technology often scares businesses, but the return on investment is well worth the initial expenditure. Researching and investing in a high quality technical solution for your business can streamline and automate many processes in the office.
ELECTRONIC DOCUMENT MANAGEMENT SYSTEM
Having just finished your end of financial year process you will know only too well that it is a paper-laden procedure. Collating invoices and clients’ property documentation as well as your own business’ documentation can be many days’ worth of work.
Have you considered transforming your business into a paperless office? Aside from the environmental benefits, a paper-free office streamlines your business processes and data collation. Implementing an electronic document system such as fileSMART allows agencies to store all of their valuable client and property information in one central location.
The system removes the need for filing cabinets and paper storage in your office, eliminating the manual labour which was previously needed for the search and retrieval of physical documents. Clients’ documents can be retrieved and distributed in a matter of clicks, providing your business with time savings of up to 10 hours per week. Paperless offices are the way of the future and now is the best time to implement an electronic document management system.
SOFTWARE
With such a vast array of software on the market, it’s often hard to decipher the fads from the fantastic technology available. When looking to invest in software for your business, ask yourself these questions prior to purchasing: will this system streamline my processes and will it save time?
A property management business has many moving parts, from inspections to maintenance; there is an array of processes involved for each property. These all require data entry and documentation. Investing in a feature-rich piece of property management software can reduce your time spent on manual tasks, cut costs and increase your productivity. The time saved can be spent building your business or improving your customer service offering. Streamline your business and increase your profitability with reliable and feature-rich property management software.
New technology is sometimes overwhelming, but it is something that should be embraced. Look at the current technology in your office and see whether it is improving your processes and saving you time. If it is not, investigate other technologies which can eliminate time-wasting procedures from your day.
