SS&C Technologies : Lead the commercial real estate pack in 2022 with intelligent automation
While the past year has had some negative impact on all classes of Commercial Real Estate (CRE), it has provided innovative CRE companies with opportunities to leverage technology to stay ahead of the curve.
A national consulting firm recently released an outlook for CRE mentioning how intelligent automation technology can help CRE companies improve their margins. Companies that add intelligent automation technology for operations, transformation, and data automation will position themselves as leaders in the customer experience.
Improved operation
To recover and thrive in the short and long term, the commercial real estate industry should focus on cost management to improve and streamline operations. This includes an in-depth analysis of the business processes and the identification of ways to improve processes and reduce errors. These can include automating your property tax, insurance, and maintenance fee processes for public areas. This gets the job done faster and more efficiently at a reduced cost.
SS&C Chorus software has helped companies cut operating costs by 20-40%. Solutions such as credit insurance renewals, annual financial statements and lending allow you to modernize your operations and focus on the more important aspects of real estate. These solutions enable you to digitally transform your leasing process.
Digital transformation
The digital transformation uses digital technologies in business areas to change the way you work and to offer your customers added value. CRE companies use digital technologies for a variety of reasons, such as contract tracking, data security, occupancy records, and tax and leasing documents. No more searching through filing cabinets or distributing work between employees in Manila folders.
SS&C Chorus automates your processes and relieves your teams of higher-value tasks, such as direct interaction with potential buyers and sellers. This increases your chances of getting more deals and directly increases your sales. Ultimately, it reduces the risk of human error, makes the data more reliable, and thus facilitates compliance.
Document automation
The commercial real estate industry receives a disproportionate number of documents every year. Rental or sales applications, commission contracts and financing documents can be easily extracted using intelligent automation software. This speeds up your processes, makes them more efficient, less labor-intensive and minimizes risk.
SS&C Chorus enables you to review processes and operations and thus offers more efficient ways to get your work done. SS&C Chorus can read structured and semi-structured data with 98% accuracy, including handwritten documents. Imagine not having to decipher handwritten data in applications. This way, you can reduce risk and focus on finding better market opportunities.
Although the past year has been a drag on the commercial real estate industry, the future looks bright for companies that add intelligent automation. Now is the time for CRE companies to start using software to improve operations, digital transformation, and improve document automation. From improved operations, digital transformation, to data and document automation, intelligent automation technology can be the change you make to lead your competitors in 2022.
To learn more about how intelligent automation is making the lives of commercial real estate service providers easier, watch our webinar on Reinventing Insurance Policy Collection in Commercial Real Estate.
Commercial lending, insurance, real estate and property management
Commercial real estate, digital transformation, intelligent automation