Real Clear Software Blog Post
The Slow Death to Excel Spreadsheets – Time to pick Real Estate Management Software
First released in 1985, Excel spreadsheet was a sensational alternative to its painstaking paper predecessor. It revolutionized the way data was consolidated, computed and corrected to be the ultimate showstopper of every business. Excel spreadsheet has been in the know how of every enterprise since the 80’s and the transparency and accuracy it rendered surfaced new heights for the organizations for decades. The macros, formula system and charts provided significant boost in office productivity.
Investors and CFO’s business wide are ready to bid adieu to this legacy for the stronger successor that is far more than just being good at its job. The familiarity and loyalty to Excel spreadsheet is still keeping it alive but with a shift in times, more contemporary and technologically savvy real estate management software are putting Excel spreadsheet on the ventilator. The power to pull the plug lies in the hands of Wall Street where data mismanagement has already meant loss in the counts of billions. Death to Excel spreadsheet is not just a gimmick worldwide but the rage finance officers are following intensively to minimize losses, have real time access to data and keep it updated right to the microsecond while being completely free of miscalculations.
1. Make no Mistakes, stay Error-free
With the strong possibility of broken formulas, an imperfect rent calculation can be an expensive mistake. Choosing a commercial real estate management software would keep you stress free for such errors. The software is put on rigorous tests and is maintained by the vendor so there is no possibility of formula error by staff that could translate to severe monetary loss. Auto- sync is not Excel’s suit, therefore they are highly susceptible to outdated information. Specially in real estate, investors cannot rely on old data while making substantial investments. Real Clear Software provides as a great solution to this as a single source for data entry, review and comparisons.
2. Time Management
Passing the baton of the updated sheet across the team where everyone can extend their inputs and then swinging it like the pendulum between team and management is aggrandized as office work when in real it’s a sheer waste of time. Since there are no live updates or notifications on the sheet inputs by concerned departments, the visibility to all the connected departments is nothing but opaque until they get their hands on it.
With an easy log in, you get access to the entire portfolio in a split second. Since Real Clear Software cloud based real estate management updates in real time, no running of calculations and charts is required. The software is designed to do that for you without moving a finger.
3. Ease of Access with Cloud based real estate management software
Since the real estate management software is cloud based, easy access comes at no extra cost. Spending time on exchanging the latest and most updated spreadsheet or logging into the drive or Dropbox to look for the same is history. Cloud computing keeps a track of revision and exhibits only the most updated version. The projections are on your fingertips through your phone, tablet or laptop from any location, anytime.
4. Document management was never this easy
Surveys have found that just by moving excel spreadsheets to various employees who will all fill in the digits and analyze the data, the productivity loss over a month accounts to two proper business days.
Lease data is crucial for numerous departments such as project managers, legal team, Human resources and accounting.
A resolute real estate management software will keep your lease documents and data safely stored in a single location for quick access. With just a click on the application, you will have easy access to the associated documents in no time. For example, if you have the data of lease renewal date somewhere on excel spreadsheet, it becomes your job to open it well in time and find the exact dates before you overshoot it. On the contrary, with Real Estate Management Software, you’ll be notified with emails well in advance to avoid any slips. The software will do the work for you in the background, so you can focus just on renewal and its processes.
The room for error is colossal with spreadsheets. The new age real estate management software might sound like an investment at first but they make way for complex data mining omitting the possibility of errors, missing out on lease dates while giving access to the concerned departments well in time by email alerts.
5. Audits tell everything
In a world where data management is critical, excel spreadsheet is not encrypted, is merely protected by a password and it is impossible to know who changed a field in the sheet. This is of extreme importance for compliance and for keeping a track of exactly where it went wrong. The real estate management software tracks the changes and reasons behind it. Unlike excel spreadsheet, cloud based analytical software cover up for enhanced encryption and intricate audits are possible to check for data mismanagement and privacy rupture.
The only edge Excel spreadsheet has over the new age analytical software is its universality, everyone has it, everyone knows it but, in the times where Robots are taking charge to better your life, world is ready to embrace the technology to fill the gaps of data loss, mismanagement, opaqueness and security violations with the excellence of cloud-based analytics.
To integrate your core business processes, use a system of integrated applications to automate various back end functions related to technology, services, HR and more. Yes, it may sound complex but works only to simplify your data with its service-oriented architecture. Oust the former practice of maintaining spreadsheets and swap its place with a real estate management software that integrates your entire real estate data exceptionally, minimizes effort of keeping a check and is bulletproof to unnecessary errors.
6. Reports Generation
Track relative performances among stores, real estate based KPIs, lease renewals, rent renewal and much more with the ease of report generation. Refer to the bar graphs that display performance and changes over time. Depreciation schedules and balance sheets can be easier to understand with the software generated reports than with the data validation and conditional formatting of excel. No need to sort and filter through the sheets when the real estate management software will present only the consolidated data in bars, graphs, pies or any form you like without leaving any room for inaccuracy.
7. Integrating the entire data
For nationwide and global retail chains, cloud based analytics can offer much more insights and can help with customer relationship management. This detailed analysis can benefit the company in the long run by maximizing earnings and overall profits achieved by operating in the right place at the right time among the right customers. Harvest the advantages of the analytical software to not just boost your business but look smarter, sharper and astute to the world of business economics.
Shake hands with the real estate management software that guarantees to flawlessly automate your inputs and calculate without lapse, blunders and manual updating at every point. Reap the reward of digital technology with the power of precise analytical software. Administer your business accurately with no room for error and if you are still addicted to the older display of sheets, you can always use the ‘Export to excel’ feature.
Real Clear Software’s commercial and cloud based real estate management software offers many advantages over excel spreadsheets such as document management, project and portfolio management, data security, performance measurement, data analysis & comparison, real time data access, generation of various reports etc.
For more information on RCS Portfolio from Real Clear Software, visit https://realclear.software, email email@example.com, or phone (949) 445-6220.