Assetsoft - Blog #cloud solutions

Top Benefits Of Cloud-Based Property Management System

Sun, 07 Nov 2021 20:06:25 -0500

Property managers have to perform several tasks everyday. Manual repetitive tasks can become tiring. Not only would their job become overwhelming, but the management of daily tasks would become a time-consuming affair.

With a property management software, you can make things easier. For instance, several real estate businesses today are looking to adopt a cloud-based property management software. Cloud-based property management software offers a host of benefits. We have briefly discussed some of them in the given sections:

1. Cost-effective

Cloud-based property management software is cost-efficient. This software does away with physical servers, which are cost-inefficient. The expenses involved in their installation, maintenance, and up-gradation are huge. But cloud-based property management software allows you to get away with all these expenses. It also lets you upgrade or downsize your storage as per your requirements. Also, the financial burden is borne equally by all the users of this software.

2. Offers greater accessibility

Cloud-based property management software allows users to access their data easily, irrespective of the location of the device they are using. With all your data stored in a cloud-based system, you and your clients can access it in real-time. Moreover, because of increased accessibility, there would be no loss of valuable data while migrating from one system to another.

3. Facilitates easier collaboration

Since cloud-based property management software offers increased accessibility to users, a collaboration between two or more individuals becomes easier. Your team and you can access all the relevant information and work together effortlessly. This leads to a reduction in downtime. Also, everyone involved is made aware of all the work that is happening.

4. Offers enhanced security

Cloud-based property management software offers enhanced security to its users. Traditional property management systems leave your data vulnerable to natural disasters, power outages, thefts, and equipment failures. Locally stored data is not immune to accidental corruption.

However, with cloud-based software, you will not have to worry about these from happening. It uses advanced technologies such as firewalls, authentication gateways, etc., to encrypt and protect the data. It also facilitates the secure transmission of this data.

Cloud-based software service providers work with data security experts to take care of the vulnerabilities. Some cloud-based systems adopt additional safety protocols to minimize the likelihood of an information breach. These measures include being notified of unauthorized logins, blocking a device remotely, and so on.

5. Automatic backup and easy recovery of lost data

No data can ever be lost with the cloud-based property management system. This software saves and backs up all your data automatically and reduces downtime too. It also facilitates the easy recovery of lost data. Working with server-based property management software can be tedious because manual backups have to be maintained here.

Maintaining manual backups is time-consuming, prone to errors, and cost-ineffective. In addition, the latest features and bug fixes have to be continuously downloaded and installed if you stick to the server-based property management system. But, with cloud-based systems, all updates are rolled out in an instant.

6. Increased accuracy in data analysis

Accurate data-driven decisions can help a business flourish. Data stored in a cloud-based property management system will allow you to perform thorough data analysis at your convenience. Data analysis, if conducted manually, may turn out to be incorrect. If there is any discrepancy, you will be able to notice it and deal with it effectively.

7. Scalability for saving manual labour

8. Online payments for automatic financial reports

Rent payments can cause trouble not only for tenants but also for landlords. It’s hard for a single human to keep track of all financial expenses. It takes up a lot of time. Making spreadsheets manually for financial payments can cause errors, and you might miss out on an amount.

Residents can efficiently make their rent payments from their phone with a property management application, sitting right at their homes. They don’t have to visit the landlord physically to process the payment. This enables the landlord to sort out and keep track of all payments in no time.

9. Reduced administration work

Inserting data one by one in a spreadsheet manually wastes a lot of time. Not only does it take a lot of time to show you results when done manually, but also it takes a lot of time to go through each data and analyze it. And since it’s getting repetitive, you can easily end up making an error.

With a property management application, your data is updated automatically. You can generate reports the way you like and when you want. You can get a hold of your finances and company easily.

10. More transparent operations

Talking about residents, rental management application renders a degree of transparency. For instance, if you manage all the rentals manually, You provide them a payment receipt as hard proof that they made the payment. Giving out hard evidence to residents helps you establish trust and faith with them.

A cloud-based property management software can help you with all these tasks and much more in no time. It can send out timely reminders, which will prevent delays in payments. It can also generate digital files and accessible tools to establish fluent and clear communication with the tenant. It’s the key to a successful resident-landlord relationship.

Find Out the Right Cloud-based Property Management Solution for You!

Timely solutions lead to better client satisfaction. And cloud-based software is also safer than using any other external storage. Want to know how you can get started using a cloud based property management software that handles all your needs? We can help you find the right real estate property management software. Choose from popular options like Yardi and MRI Software. Automate other tasks with Robotic Process Automation.

Know how we can help. Talk to the Assetsoft team today!

How to Ensure a Smooth Real Estate ERP Software Go-Live

Wed, 04 Aug 2021 11:30:00 -0500

Every company lays special emphasis on their ERP software go-live. The companies that are successful gain immense benefits from it. But, not all ERP go-lives happen smoothly.

According to 360o Cloud Solutions, as much as 29% of ERP implementations are not successful. There can be many reasons for this, but the most important one is the lack of planning.

Real estate ERP go-lives start much before the actual date of rolling out the software. For a smooth go-live, it is essential to understand your goals, plan and strategize. Even after implementation, you need to maintain your ERP software accordingly. So, here is an ultimate guide on how to ensure a smooth ERP go-live.

Before implementation

How successful your ERP go-live depends on how well you planned the process. ERP implementations take time. Large companies take an average of 23 weeks for ERP software selection. Many organizations hire outsourcing companies to prepare for ERP go-live. Your preparation phase should include the following steps:

Strategize

There are different approaches to ERP software implementation. Depending on the company’s goals, you can either bring the entire ERP software live on a single day. Or, you can divide the implementation into stages. In any case, it is essential to decide an estimated date for the go-live. This can help you plan the steps and duration taken for the implementation. RPA tools are also essential if you want to automate multiple features.

Test

The importance of testing in ERP go-live cannot be stressed enough. Testing brings out the problems in your software by subjecting it to various situations. This is to avoid future mishaps under similar scenarios. Testing involves several aspects:

Workflow: Since the software will deal with varying amounts of data, testing workflow is very important. How much data does the system handle smoothly? Can it process large amounts of data simultaneously? These are some of the criteria against which the software is tested.
Backup: Backups save all your data in case the ERP system fails. While testing the software, it is also important to test the backup. Other than ensuring the backup runs smoothly, you also get an estimate of the resources you will need.
Hardware: Along with software testing, you also need to test the hardware and network connections. These are also an integral part of ERP implementation.

Train

A successful ERP go-live not only depends on the software but also on its users. According to SoftwarePath, 26% of the company’s employees use the ERP system. These employees need to be competent in software usage to avoid any glitches and mishandling. Before starting with the training, each employee requires a user role. Depending on their responsibilities, they need to undergo job-specific training in addition to general software knowledge. For example, every employee needs to have a basic understanding of how the software works. Apart from that, the training should be different for developers, programmers, or any other role assigned. Your training also needs to be software-specific. If you are using UiPath for integration, you need to provide UiPath training to the relevant employees.

In addition to training, you need to work closely with your employees to clear any queries and doubts. Employee readiness is equally important for the go-live to function smoothly.

Prepare data

Your older system contains a lot of data that isn’t useful. Instead of directly feeding this data into the newer ERP system, it is important to eliminate bad data. Old or duplicate records need to be removed before moving the data to the new system. The data should also be made compatible with the ERP system. Make sure that only valid data enters the ERP system.

Implementation

After taking all the necessary actions, you can move on to the actual ERP go-live. By rigorous testing and training, you can ensure a smooth implementation. Set realistic goals for the go-live and check how many goals have been met. Successful real estate ERP go-live is great progress, but it is not the last step of ERP implementation. After the go-live, there are several steps you need to take to ensure your ERP runs as smoothly as the first day.

After implementation

Real estate ERP systems require timely maintenance to function properly. Some of the steps you can take to avoid any software problems are:

Monitor

As the company grows, you need to monitor your ERP system’s performance. The goals of the company are also redefined along with its growth. Check if the software can keep up with the increasing workload. Take feedback from users of different roles to optimize your software. Ensure that it meets the main goal of implementing ERP --efficiency. By constantly monitoring the performance of the software, you can detect glitches and malfunctions early on.

Analyze

ERP systems generate huge amounts of data that can be used to the company’s advantage. Only 5% of organizations effectively utilize ERP to generate high-quality data. This data can be used to analyze company performance and generate valuable insights. Continuously evaluate the data generated by your software and analyze important data. Through accurate analysis, you can plan your finances and investments for higher ROI.

Upgrade

As technology grows, software systems also need to be upgraded on time. With the growth of the company, the ERP software needs to be scaled accordingly. A software upgrade lets you add new features or expand your initial project accordingly.

Assetsoft can ensure a smooth real estate ERP go-live

We know from experience that ERP go-lives are a complex process. At Assetsoft, we assist our clients in ensuring that their ERP implementation is smooth without any glitches. Our services cover all your ERP requirements such as software integration, data migration, and even staff training. We integrate various property management software such as Yardi, Procore, and UiPath to provide you with the right software for your company. From planning and strategy to support and troubleshooting--our expert staff members will assist you throughout. For all your ERP requirements, reach out to Assetsoft!