How Asset Managers Can Use Technology For Faster CRE Reporting and Analysis
In today’s fast-paced commercial real estate (CRE) industry, asset managers face increasing pressure to deliver timely and accurate reporting and analysis. With the ever-growing volume of data and complex market dynamics, traditional manual approaches often fall short. However, embracing technology can revolutionize the way asset managers operate, enabling faster and more efficient CRE reporting and analysis activities. In this blog post, we will explore the various ways CRE asset managers can leverage technology to enhance their processes and stay ahead in a competitive market.
What is Meant by CRE Reporting and Analysis?
CRE reporting and analysis is commonly performed by real estate professionals, investors, asset managers, property owners, and financial institutions involved in commercial real estate. It enables them to track property performance, identify areas for improvement, evaluate investment opportunities, and make strategic decisions to optimize the financial outcomes of their CRE portfolios.
Key components of CRE reporting and analysis may include data collection and organization, performance metrics like NOI, and forecasting and projections.
How CRE Asset Management Software Can Help with Faster Reporting and Analysis
As companies seek and evaluate areas to refine processes, automation (and thus technology) will continue to be at the forefront of the conversation. Fortunately, tools for automation in CRE are more accessible now than ever before. Asset management software can help streamline the following processes:
Automate manual data entry
Automating manual data entry with asset management software enables organizations to extract, organize, and input data at scale. With a solution like Lobby CRE, you can also eliminate manual and antiquated processes of collecting and analyzing data in Excel with complete access to real-time data, analytics, and dashboards.
Track key metrics quickly and with ease
A tech solution with fully-configurable analytics and reporting, like Lobby CRE, enables you to choose from over 400 key metrics and track what’s most important to you. Set your own thresholds and be alerted of any changes, like NOI decreases or notice to vacate increases. Visually understand how your assets stack up to the market. And run reports 365/24/7 with reliable, accurate data inputs and outputs.
Eliminate data silos that can slow reporting
Technology, like Lobby CRE, removes data silos and connects your teams for improved collaboration and results. With one single, cloud-based source of truth, your team members can share information faster across the entire company and with selected external stakeholders. Once everyone is working from the same dataset, reporting can be done more quickly and efficiently.
Analyze data from multiple sources
An asset management solution such as Lobby CRE can aggregate and analyze data from multiple disparate sources – such as property management systems, accounting software, and lease administration platforms, and debt management tools. This type of functionality scales your reporting efforts and equips your firm with easy and quick access to high-quality, accurate financial reporting.
About Lobby CRE
Lobby CRE transforms CRE asset management with automated operational and financial data intake, intelligent performance analysis and reporting, industry benchmarking, and configurable dashboards – all within a single platform.
Ready to save your firm time and money that can be used for more valuable activities? Schedule a demo today!