1) You have siloed data across multiple platforms or systems
In commercial real estate, there is no shortage of data; the problem is that the information is often heavily siloed and sometimes even inaccessible. This fragmentation makes it challenging to get a complete overview of your company’s and portfolio’s performance, as well as to provide transparency and effectively share any insights with teammates.
2) You rely on manual, time-consuming processes
You are likely responsible for tracking metrics such as delinquency, occupancy, and cash flow. The data generated across the lifecycle of your assets requires a significant time commitment to collect, standardize, and analyze the information and then extract meaningful insights (especially when using spreadsheets). Spreadsheets are error-prone and create risks for inefficiencies and inaccurate data.
→ CRE office workers spend 2-3 months per year managing & organizing data.
3) You have a large and/or complex portfolio of assets
Commercial real estate portfolios often consist of multiple asset types with differing complexities. As the market shifts, it’s increasingly difficult to keep a pulse on each asset’s performance with siloed data and scattered spreadsheets.
4) You lack the insights to optimize your portfolio and make data-driven decisions
Portfolio performance and optimizing cashflow is at the core of every business decision your CRE firm makes. By regularly monitoring your portfolio’s performance, you can better understand shifts in the market, determine how assets are benchmarked in relation to those trends, and adjust your strategy to take advantage of emerging opportunities or navigate risks. But it is nearly impossible to make impactful decisions without readily accessible, aggregated data.
5) You find collaboration and communication across the team to be challenging
In commercial real estate, data silos and poor communication can hinder productivity. Without a centralized, cloud-based database that is easily accessible and always current, processes begin to fragment. When team members are relying on different versions of documents and information from various systems, having a clear understanding of the current state of the portfolio, potential risks and opportunities, and next steps can be difficult.