If there’s one thing we can all agree on about the commercial real estate industry, it’s that it’s complex. This is especially true from the CRE stakeholders’ perspective, whether it’s an active team member, a supervisor or an investor. According to a global survey by KPMG (Confronting Complexity: Research Findings and Insights), more than 94 percent of commercial real estate executives “identified complexity as their greatest challenge.”
There are two ways to address complexity: 1, present and manage information in a way that’s easier to understand; and 2, involve the parties challenged by complexity. Those who participated in the above survey agreed, as 84 percent of them pointed to technology (and specifically information management) as the solution for CRE complexity. Let’s discuss why CRE software is that solution and, more importantly, why stakeholders will love it.
How CRE Software Solves Complexity Issues
CRE software addresses all of these complexity issues. For starters, it utilizes collaborative cloud-based technology. No longer do executives and other stakeholders have to rely on long email threads or inaccurate spreadsheets. CRE software centralizes the data on one platform where the reports are automatically regenerated and users can invite their contacts in, assign critical date reminders, and securely store and share documents.
Secondly, these systems are designed with simplicity in mind. For example, Quarem gives users the option to dive deep into the details or quickly scan metrics with visually appealing dashboard analytics.
Reasons Why Stakeholders Love CRE Software
Stakeholders appreciate detailed, transparent reporting and real-time collaboration. So, no matter if they’re active team members or parties with capital interests, they’ll love the use of CRE software for several reasons:
– Team members: CRE software, like Quarem, allows all team members to work together and collaborate from anywhere in the world, from any device. The team can monitor its progress, manage resources in the cloud and track notes in real time. Team members love the day-to-day convenience this provides.
– Supervisors: CRE software lets supervisors analyze various aspects of your CRE operation, from tracking departmental productivity using KPI reports to forecasting occupancy costs, future space needs, employee utilization and more. Supervisors love the awareness and insights they get with CRE software.
– Investors: CRE software lets users easily produce standardized or customized reports for any area of the portfolio, from lease administration and projects to properties and assets/inventory. These customized reports provide investors with the exact metrics they need to see.
Ready to experience CRE software that all of your stakeholders will love? Request a demo of Quarem today.