Technology holds the key

Within a few years, property management software packages evolved from being tools of convenience into end-to-end, top-to-bottom solutions. They constitute the technology strategy portion of a strategic business plan whose principal elements include greater transparency, more efficient portfolio management, and a higher degree of risk mitigation. A growing number of real estate professionals are recognising these advantages and embracing these technologies.

Transparency is key and dashboards can improve asset management by offering every real estate practitioner—from property and maintenance managers to top executives—an unprecedented degree of operational transparency. Ready access to real-time reporting, task notification and analytics (including drill-down to underlying data) is a dashboards’ real calling card. Dashboard’s tailored-to roles give managers and users a real-time, dynamic view of daily tasks; this sheds light on issues that need immediate attention. The most notable of these dashboard views is the executive dashboard, a configurable tool for providing executives a personalised, instant view of portfolio analysis and such key performance indicators as budget, profit-and-loss, and space management. All this adds up to dramatically faster decision-making capability.

Similarly, the development of portals is beginning to catapult real estate owners and managers ahead of their competitors, by linking in external stakeholders—prospects, tenants, investors, employees, prospective lessees, and service providers—with the operating information system via a common site. This step drives efficiency into every transaction involved in managing their business. Vendors, owners, tenants—each can have a dedicated portal that provides instant information and interaction with the central operating database, facilitating such benefits as dynamic marketing of available space, online applications and leasing, and online electronic transactions such as invoicing and rent payment. The level of service enabled by portals can provide one of the greatest competitive advantages when used to their fullest extent.

The most advanced software systems feature fully integrated solutions that consolidate portfolio, financial, lease, and other data into one database, giving all network users instant, secure, real-time access.

High-performance real estate technology providers are moving to capitalise on the possibilities presented by the current issues facing our industry. Commercial real estate leaders, eager for competitive discriminators and service enhancers, are gearing up to commit the investment costs to implement new technology as a key element of their success. The synergy between the real estate business and the technology supporting it continues to gather momentum in the wake of growth and globalisation. The signals are clear: To compete in commercial real estate, you need technology on your side. Integrating the latest real estate applications into your strategic business plan and staying alert to new developments will pay big dividends in a highly competitive marketplace.

About Yardi
Yardi Systems, Inc. is the global leader in the design, development, and support of integrated Asset and Property Management software for organizations of all sizes. For more than 25 years, our technology and services have led the industry through responsiveness and innovation, becoming the premier application for real estate software solutions worldwide. Our software is client-driven and serves more than 15,000 businesses, corporations, and government agencies, representing more than 5 billion square feet of commercial space and five million residential units globally.
Yardi enjoys a customer base that incorporates some of the world’s leading international companies. Its European customers include: Deloitte, Sachsenfonds, Cushman & Wakefield, CBRE I, and GPT Halverton.

Headquartered in Santa Barbara, California, Yardi Systems is a privately held corporation with offices throughout the United States, Canada, Europe, Asia, and Australia. More information about Yardi products and services may be found by visiting www.yardi.com.