Assetsoft - Blog #post-lockdown

Investment Management Trends Post Pandemic

Thu, 03 Jun 2021 08:00:00 -0500

COVID-19 marked a global change for all industries. With 2021 promising recovery, experts haven’t wasted time forecasting where real estate could go. Thankfully, most trends will be beneficial for companies and investors worldwide.

However, we must focus on one fact: technology makes up a considerable portion of these forecasts. Investor managers have understood the benefits of innovation: efficiency, accuracy, transparency, and convenience.

During the pandemic, these advantages were lifesavers. As the crisis subsides, they’ll quickly become the new standard. Working with a professional software implementation service is ideal for reaping all the benefits. Assetsoft also offers you everything you need for your investment management business, from accounting outsourcing to business process outsourcing.

Trends for different asset classes

Firstly, we’ll look at which asset types have experienced trend shifts during 2021. If you’re thinking about portfolio diversification, these markets are definitely worth a look.

That said, you'll probably be surprised to learn some of the upcoming asset trends. Considering which markets performed the worst during the pandemic, property managers won't expect multifamily and office real estate sectors to offer growth potential.

1. Office space slowly recovering

Investors are starting to revive their interest in office real estate. With vaccination rolling out, workers are beginning to come back to their offices.

Current developments, like IT recovery, are breeding hope for the sector to recover faster than expected at first. This trend could turn the tides for many real estate companies.

2. Multifamily assets gaining popularity

Despite its losses during the pandemic, the multifamily asset class has shown its resilience. One of the main reasons behind it is the technology behind it.

Virtual tours and other innovations have sprung interest in multifamily properties. Investors planning to diversify their portfolios will probably reconsider this market as a promising investment.

3. Debt as an asset class

Running debt has also experienced growing demand as an investment instrument. The investor community has realized the potential benefits of debt financing.

It’s akin to the previous trend toward real asset alternatives: oil, infrastructure, and gas. The debt market has shown opportunities for property ownership due to current valuations.

Technology taking over the market

As we mentioned, technology implementation is becoming a priority for most companies, and COVID-19 merely strengthened these needs. Today, investment managers have no reason to settle for traditional methodologies.

Process automation, chatbots, AI, and big data are some of the most important developments for the post-COVID world. Which technologies attract more investors within the real estate market?

Investors keep prioritizing effective PropTech implementation in real estate companies. Make sure you don’t fall behind and contact a professional service.

1. Attraction toward purely digital interactions

Today, investors are still hesitant about personally assessing an investment opportunity. That's why we've experienced fast growth in virtual tours and augmented reality.

With time, this trend might shift from being born out of health concerns to remain relevant for its convenience. That includes document storage and signing as well.

2. Automation is still gaining ground

Naturally, automation remains a substantial investment for any property manager. Nowadays, investors don't have the time to develop and stick to busy schedules due to human resources.

As such, even primary automation (chatbots and personalized listings, for instance) goes a long way in making specific investment opportunities more attractive.

3. Technology implementation remains a priority

Naturally, automation remains a substantial investment for any property manager. Nowadays, investors don't have the time to develop and stick to busy schedules due to human resources.

As such, even primary automation (chatbots and personalized listings, for instance) goes a long way in making specific investment opportunities more attractive.

4. Online services and convenience become crucial

Likewise, most people have gotten used to finding all the options and solutions they need from their phones. Finding investors will demand companies to focus on convenience via digital services.

Investor portals, intuitive websites and catalogs, and even mobile apps will significantly attract them to specific offers.

5. Self-servicing preference

In the end, all that convenience translates into empowering investors. These people will demand more information and solutions to take a primary role in creating and closing deals.

With today’s hectic landscape, there’s little interest in waiting days for a request to process. Management solutions, like Yardi, have driven the “new normal” in self-service functionality.

Management and accessibility

The final trends aren't entirely related to the real estate companies, but investors are spreading their focus to more aspects than traditional markets and plain ROI. They wish to be more involved in their investments, often learning more about the assets and needs.

That doesn’t only mean becoming interested in the investments themselves but also innovative opportunities. Primarily, investor managers desire to have instant access to actionable data about their current portfolio and options.

1. Capital isn't the sole focus

With current financial uncertainty and market risks, investors need to know more than potential profits and losses. We'll see a significant spike in requests for more information about every investment opportunity as they look to understand everything about their asset.

2. Fundraising breeding new opportunities

Fundraising has also gained considerable traction among investment groups. Putting opportunities out for investor pools makes it more affordable to access new investment chances. Today’s software allows investors to access these methods online.

3. Debt investment and compliance

As we mentioned, debt has become a primary interest for many investors. Though, these investment assets mean complicated considerations, like compliance and governance.

Offering these options is as important as educating investors about what they can expect and how to leverage them.

4. Comprehensive digital process management

Lastly, investors expect to have all the information and tools they need to evaluate and close their investments. These solutions must be digital and accessible to provide the required empowerment.

That means integrating complete systems to offer the functionality expected by a seasoned investor population. Investor portals and management suites will likely become invaluable for property managers.

How can real estate companies leverage these trends?

As usual, there’s little value in realizing upcoming trends if a company can’t take advantage of them. Since technology is the foundation for many developments, we must start on that front. The first step is to assess your current systems and what you’re missing.

Even the trends that aren’t directly related to technology benefit from finding the best solutions for your company. As you’ll see, our tips revolve around digital adoption and integration.

1. Professional technology implementation

Firstly, any company needs to consider how modern its systems are. Legacy software becomes obsolete faster than ever, and with rapid adoption being today’s norm, you can’t fall behind.

That’s because finding an expert technology implementation solution can prove to be an outstanding investment. The right software will provide investors with all the features they need to feel confident in their assets.

2. Big data analysis

If you wish to check promising markets to see if they’re still profitable, data analysis is the best way to do it. Real estate firms generate prominent big data volumes, and the right AI intelligence & data forecasting solution will turn that into a crucial competitive edge.

Likewise, integrating efficient software for data gathering and management streamlines all your data analysis efforts. Qlik is among the best systems for this task.

3. Adapting to relevant trends outside of investment management

Finally, don’t neglect other developments and trends because they’re not directly related to investment management. For instance, the ERP software market promised considerable growth in the upcoming years before COVID-19. The crisis boosted that growth.

ERP software will likely become the standard in the real estate sector, driving investor trust toward companies using this software. We can find countless other trends that can indirectly affect investment management, and the right strategy must keep them in mind. Let us help you with your investment management accounting needs.

The Assetsoft team understands your accounting outsourcing needs. We can help you free up time. Talk to an outsourcing company that brings to the table what you need. Give us a call today!

Contact Tracing & Opening Buildings

Fri, 14 May 2021 07:00:00 -0500

By now, we’ve gotten used to working remotely, avoiding crowds, and using face masks and hand sanitizer.

It might be a while before these habits start going away, but many of these changes might be here to stay. Remote work, for one, has shown companies and employees alike that it can be an ideal working method to keep.

Are you ready for the time when you start opening your doors again? This article will go through several considerations you might want to keep in mind.

What is contact tracing?

Contact tracing is one of the main strategies states will implement while lifting their quarantine. WebMD has a comprehensive article explaining the concept and how it works. Simplified, it’s a strategy to reduce the spread of COVID.

While many states have failed to implement this approach, the strategy has been around for decades—or even centuries. Now, thousands of contact tracers will be necessary to minimize future outbreaks.

Right now, contact tracers are starting to work, as businesses get back to functioning. Still, you need to play your part and implement this strategy into your company.

The procedure

Contact tracing is fairly self explanatory. You need to keep track of anyone you know who’s tested positive for the virus or might have it. Once you identify risky individuals, you’re supposed to help isolate them to keep the virus from spreading.

It’s very detectivesque. You need to work with them to identify who they might have had contact with. Then, you repeat the process with these people: isolate and work with them to find out more.

It sounds primitive, and that’s because it kinda is. Still, it’s a proven way to disrupt the transmission chain. Think of it like a spider web. Every individual you isolate is a node. Every contact they had is the connecting thread. You’re disarming the web one section at a time.

Privacy implications

You might have doubts regarding whether or not this means violating your staff’s privacy. However, that’s not necessary. In fact, public health teams only contact people identified as potential infected. There’s no need to reveal their personal details or even identity to anyone else.

You can communicate with your personnel via email and messaging apps. It’s actually straightforward to send the necessary messages without including delicate information. Preventive measures should be generalized, anyway.

Right now, public health experts prefer to assume someone is at risk, regardless of the type of exposure, as long as they’ve been exposed to an infected individual. Combine that with remote work, and ensuring privacy isn’t a problem.

Contract tracing might create jobs

The last highlight in the WebMD article is how contact tracing can provide work for currently unemployed people. There’s a huge need for contact tracers in the public sector. Similarly, companies should consider performing their own contact tracing, thus hiring more workers.

Contact tracing takes lots of time. You need to communicate with the people, trace their contacts and reach out to others, and even aid their isolation. Contact tracing offer involves helping with groceries, medical care access, and other supplies.

Luckily, the harder step is actually to plan the entire approach. Finding the necessary resources should be quite straightforward as long as you have the budget.

Opening buildings post-lockdown

On the other hand, we also need to consider reopening our doors after months spent in quarantine. You might think it’s only a matter of cleaning up and letting your teams stroll right in.

Well, it’s not as easy as many people believe. Case in point, the Center for Disease Control and Prevention has an entire article on how to reopen after the quarantine. Long-term inactivity can breed several health hazards inside any building.

We all know how problematic mold can be, but there’s a couple of other factors you might not be considering. Let’s analyze what you need to assess before opening your building.

Mold

Mold comes from moisture, and anyone who’s lived in humid regions knows how problematic it can be. It can grow almost anywhere: wallpaper, drywall, tiles, fabric, and wallpaper. Thankfully, it’s far from life threatening.

That said, it can cause serious discomfort and significant complications for people with compromised respiratory systems. People with allergies and weak immunity should stay away from moldy buildings until they’re cleared.

Enterprise real estate firms have access to special consultancy. You should hire professionals to assess whether or not you have mold in your building.

Legionella

Legionella is a bacteria that can spread in stagnant water in plumbing systems. Stagnant water often offers the ideal temperature for Legionella to grow, especially considering how disinfectants tend to stop working.

Legionella is responsible for Legionnaires’ disease, a special risk for immune-compromised individuals. It’s particularly problematic because how it can spread via aerosol, which means flushing and cleaning certain areas can be dangerous.

Just like with mold, you should consult with a water management and purification specialist. You must ensure your entire water system is safe before exposing your resources to it.

Metal leaks

Finally, copper and lead can be a prominent health risk, even worse than what we already mentioned for many people. These metals can make it into drinking water. That’s because corrosion tends to occur when water usage is either low or non-existent for prolonged periods.

It’s more dangerous for children than adults, but that doesn’t mean your company should take it lightly. Stagnant water within pipes can even act as a catalyst for corrosion, even if you’re using anti-corrosion chemicals.

Proper guidance is available within the real estate industry, and it’s a worthwhile investment that will save you lots of costs and losses down the line.

What does all of this mean for your company?

All of these factors are important obstacles to assess, but they don’t have to become bigger deterrents than they actually are. Everything comes down to proper management, and today, CRM and ERP software and consultancy services offer the solutions you need.

For instance, CRM platforms have been lifesavers for many companies during quarantine. You can use many CRM platforms and their advanced features to help your contact tracing efforts, for instance.

Platforms like MRI or Yardi software also let you track all your investments and projects until completion. That’s vital for building assessment solutions and maintenance before reopening your company.

Our best pick for going back to work: Zoho

Zoho is easily our top choice for your work reincorporation needs. It’s an industry leader when it comes to CRM management for real estate firms. It comes with every feature you need to keep contact with your clients and resources.

Zoho is aware of the challenge many companies will face going back to work after the lockdowns. That’s why they’ve enabled their BackToWork service for everyone to adapt to the prominent changes the industry is about to face.

Zoho lets you comply with safety guidelines, with plenty of tools to assess your building and trace your contacts. In fact, it’s one of the first systems to integrate these features into their package. You can streamline vital communications to make your entire reopening a lot smoother.

Comprehensive feature modules

Zoho’s BackToWork program has all the features any real estate company needs to ensure effectiveness.

Admin control

Firstly, you have your own admin control center. It lets you track your facilities’ statuses and their safety levels. It’s a must for management effectiveness, as you can assess every building’s readiness. Zoho even lets you track health statuses for every team member and sort the ideal actions to take in case of emergency.

Wellness

Zoho also offers self-evaluation for your employees, as well as pre-made forms and surveys to streamline contact tracing. They can provide relevant information about their health and whom they’ve been in contact with.

Safe entry

After compiling your employees’ surveys, you can classify your resources into low and high risk. It’s a vital first step before starting to take people into your offices. You can evaluate your resources and whether or not they can relocate to their traditional position.

Employee self-service

Your employees can use their Zoho user accounts to submit specific requests to you. The self-service module enables them to ask for things like sanitizer, support, office supplies, and maintenance.

Communications

You can also enable your team members to communicate with each other while keeping the recommended distance. They’re able to share tips, frameworks, and guidelines with you and each other. You can also circulate important messages, like news, FAQs, and other announcements to desktop and mobile devices.

Volunteer

This one can be vital to make the most out of contact tracing. You can organize volunteers from the community for different tasks. You can create volunteering projects and recruit new employees while ensuring optimal coordination.

Professional app

Just like any other premium software solution today, Zoho is an accessible and reliable platform. That doesn’t mean it’s not sophisticated, quite the opposite. It provides every app and tool necessary for your company’s operations while maintaining its intuitiveness for immediate use.

It’s also a highly secure platform. Its servers and encryptions receive constant testing to make sure they can withstand any attack. It’s also cloud-based, so you can access your account from anywhere. It’s a prominent advantage in today’s industry.

Premium CRM

As mentioned, your CRM platform can make all the difference both during the quarantine and reincorporation. Many customers will expect the same online availability, and Zoho lets you provide the ideal service for them.

You can also guarantee their safety. It offers electronic receipts, financial management, and automation features for most of its features. You won’t have to force anyone to move to your office for exceptional customer service.

Salesforce

Salesforce has been an industry standard for good reason. It’s quite a pioneer, and it’s implemented several advanced and customizable features throughout the years. It boasts a varied app marketplace, and its workflow creation is easy to use.

However, it’s easy to see as a premium platform. It can be too expensive for smaller companies, and it can be hard to learn.

Apptivo

Apptivo is a great choice for smaller firms. You get an extensive feature suite for a solid price, all condensed into an intuitive dashboard. It’s surprisingly customizable, and it offers excellent security and mobile ports.

The only issue is how it feels more sluggish than other CRM solutions. You might also find important features missing depending on your needs.

Zendesk

Zendesk is a CRM tool focused on intuitiveness and lead management. It’s a similar ecosystem to Zoho, despite having less features. It offers a great pricing structure as well as in-depth analytics. The UI layout feels natural, and you can use it seamlessly in different devices.

However, it can be tedious when uploading certain files. Additionally, it could still prove overwhelming when compared to other standalone tools.

Conclusion

It might be exciting to come back to your office after months in quarantine. However, that doesn’t mean you should rush the reopening process. You must guarantee your employees’ comfort and safety. Thankfully, you have plenty of options to do so today, especially with platforms like Zoho.