The use of real estate ERP software can improve how you manage your rentals. How to define an ERP solution for your real estate properties? What benefits are associated with this type of software? This article will tackle these relevant questions.
Definition of Real Estate ERP Software
Property management is a highly competitive and complex sector. The volume of data to be processed makes using efficient tools such as property management software crucial. The use of real estate ERP software is found in different economic spheres such as rental accommodation, hotels, or any other business that has to deal with property management.
Real estate ERP software must meet the expectations of property owners and property managers to help them in their management of the real estate portfolio. For that purpose, real estate ERP software provides sales and rental professionals with tools that make their daily lives easier. Property management software is a true virtual assistant that can keep control over the multiple tasks and the extensive data to be processed for making their real estate activity profitable.
What Is Real Estate ERP Software?
The acronym ERP stands for “Enterprise Resource Planning”. It is therefore an integrated management software. The beauty of an ERP is its versatility and its ability to adapt to all situations and all professional contexts. To optimize the work with an ERP, it is necessary to understand what the needs of the company are to implement a tool that corresponds to its internal and business organization. An ERP is also a scalable tool that monitors the growth of the company. Therefore, it is vital to implement it early in the life of your organization: it will become the ally of your growth.
In practical terms, an ERP makes it possible to plan resources, maximize productivity, and control spending. A genuine Swiss Army knife of a computerized management, an ERP brings together many applications that meet the specific needs of the various sectors of the company and that let the data interact. Whether it is the sales department or the accounting section, ERP helps every team member, regardless of their function. By implementing it within your real estate company, you make everyone’s job easier, while keeping greater control over each operation.
What Is Real Estate Software?
Real estate software is the ideal tool to keep control over the management of your real estate portfolio. By implementing this type of software, you ensure greater visibility of all your data and you obtain total control over the various financial aspects of your company. Real estate software is a significant advantage for a growing business that wants to keep control of its cash flow, customer care even with personalized rates, and multiple accounts payable.
Thanks to cloud hosting, your data follows you wherever you are: in your office, at your points of sale, or during rental tours. Real estate ERP software, as well as real estate CRM software, makes it possible to increase customer satisfaction in a meaningful way thanks to the monitoring it ensures and the digital preservation of the exchanges you have with each of your customers. Because we know that every detail matters, you must be able to maintain control over your information, whether it is financial, business, logistics, etc.
The Main Features of a Real Estate ERP
To clearly understand the benefits of implementing real estate software, here are the most useful features for managing your real estate company.
Lease Management
The beauty in using such software is undoubtedly the ease it brings in managing real estate leases. Lease management should be your top priority on your checklist. When you are not working with integrated systems such as property management software, you run the risk of losing important information about your leases and accumulating net losses. Rigorous lease management enables you to keep full control over your real estate portfolio. The creation of a contract is done according to an established process, which reduces the risk of errors, compared to human management. All the information contained in a lease can be found in one place: rental conditions, renewal deadlines, rental amounts, monthly forecasts, etc.
Creating Reports
Thanks to its database functions, real estate ERP software enables you to obtain quickly and at any point in your management cycle comprehensive reports on your sales performance. Thanks to a detailed and visual dashboard, you can see immediately the evolution of your portfolio, the trends for the coming months, the tasks to be planned, and the needs of your customers.
Marketing
Often overlooked in the features of ERP software, marketing is fully automated with the integration of this tool in your company. Thanks to the structure of the database, property management software greatly facilitate the tasks of creating and planning marketing campaigns. By creating automated mail templates, you save time in developing your business strategy, and you can segment your customers based on seasonal offers. The automation of marketing-related tasks also enables you to obtain relevant information on the efficiency of your various campaign
Invoicing
This is a must-have feature when using property management software. The various aspects of invoicing, whether it is the creation of the customer account, invoicing, cash receipts, or reminders, your management tool takes care of everything. In addition to having greater control over your cash flow, you can quickly find out who the most likely customers to pay you are.
The Benefits of Using Real Estate ERP Software
The implementation of real estate ERP software in your company guarantees its success and growth through various benefits that will enable you to position yourself ahead of the competition.
- Compliant management: Real estate standards are rigorous, and your credibility depends on your professional license. To keep it, you have no choice but to comply with the law. By storing and retaining all your data, it will be easier for you to prove your compliance with the laws surrounding your profession.
- Time and productivity benefits: Well-configured real estate ERP software makes you more productive and efficient by relieving you of a large number of recurring and time-consuming tasks. Automating processes at every business step is key to your success. It saves you time and considerably reduces the risk of errors.
- Collaboration: By having all the information in the same place, it is easier to switch to a collaborative management style rather than a top-down management style. The implementation of this type of management has proven itself. Through access to information, teams are more autonomous, more efficient, and strive for excellence. Your sales increase and your professional reputation are finally recognized.
Microsoft Dynamics 365 for Finance and Operations
At Gestisoft, we implement real estate ERP software via Microsoft Dynamics 365 for Finance and Operations. This integrated management system for SMEs is the key to successful financial management. It is a true management ecosystem for your real estate portfolio. Thanks to its multiple tools and additional applications, it acts as a genuine Swiss Army knife that adapts to the reality of your company.
All Office 365 or SharePoint tools are compatible. All data interact in a fluid and orderly fashion. Whether it is your cash flow or the investments you need to plan for in future years, you have an actual executive assistant at your side, providing you with the data you need for informed decision-making.
No matter the size of your company, implementing Microsoft Dynamics 365 for Finance and Operations is like adding a large panoramic window in a loft. The overview you will have of your financial and real estate situation will be in front of your eyes. You will see it grow at the same rate as your real estate portfolio. By opting for the real estate ERP software solution from the Dynamics 365 suite, you get a tool that adapts to the size and activity of your organization.
Choose Gestisoft for Your Property Management Software
At Gestisoft, our team of experts in CRM and ERP will provide you with personalized support in the implementation of your management system. Because we understand your reality, together we can find the IT solutions you need. We do not just sell software. We will support you in the transformation of your company, and we will be at your side as you move up the ladder of success.
Contact us to tell us about the managerial challenges in your property management company.
