The rapid worldwide digitization we see today has drastically affected the way all companies do business, and the real estate industry is no exception. Traditional methods of property and customer relationship management now need to be brought into the future, especially in a world where most customers now look for homes or properties via online devices.
Among many, a key challenge for real estate companies is that 41% of them struggle with new technology adaptation. And in turn, their growth and innovation potential are hindered by legacy technology.
But enterprise resource planning (ERP) systems offer a clear solution, carving a path toward digital evolution for real estate businesses and their customers. In fact, they’re among the top technologies driving the growth of the real estate software market.
Here’s why companies considering an ERP investment should explore the capabilities of Microsoft Dynamics for real estate (via Dynamics 365 Finance and Operations).
While there isn’t a dedicated Microsoft Dynamics for real estate ERP system, Microsoft offers a flexible and extensible solution to meet the most common real estate industry challenges.
Microsoft Dynamics 365 offers Real Estate Management (available in AppSource): a comprehensive, enterprise-level property management solution that’s built on Microsoft Dynamics 365 Finance and Operations. Ideal for retail, commercial, industrial, or residential real estate businesses, this solution harnesses the true power of Microsoft Dynamics for real estate.
Leverage a single source of truth for online listings and digital documents for rental and mortgage to allow buyers, sellers, brokers, investors, and other property agents to collaborate more effectively. Manage maintenance requests, planned maintenance tasks, and even ad hoc repairs—directly from one property record. Plus, with a Microsoft Dynamics solution, rest assured you can integrate your ERP, CRM, and more, with ease.
Automating the property management process can make it much easier for your real estate business to maintain client relationships, save time, and realize a significant productivity gain. Streamline business processes and improve efficiency by automating reminders and manual tasks during rent reviews. Or even use digital calendar schedulers to help agents plan in-person meetings, walk-throughs, and inspections.
The days of one-size-fits-all real estate are over. Today, the right technology tools allow you to optimize property searches and create engaging experiences based on customer behavior, plus offer faster response times for service. Now, you can create and manage real estate lease contracts with ease, even when they have multiple billing lines.
Manual documents can cause serious headaches, especially when—from contracts to closings—a single transaction can create hundreds of pages of documents. A Dynamics 365 ERP system helps agents manage, find, and share important information with involved stakeholders, as well as track service provided to specific properties, including site, safety, and compliance inspections.
An ERP system for real estate needs to enable easy and profitable construction and management of assets, while also solving for challenges or inefficiencies within day-to-day operations, maintenance, field service, and contract management.
Your ERP system needs to offer seamless integration with the technologies that enable your business, including those of any Independent Software Vendor (ISV) partners. In the Microsoft space, there are tens of thousands of them, so an extensible solution that integrates widely is non-negotiable. Tapping into this pool of integrations requires minimal development investment from your organization, reduces risk and resources, and means that—with Dynamics 365—you can manage HR, IT management, finance, and facility management from your ERP system, and then layer on niche industry solutions that solve more granular challenges specific to real estate industry woes.
With the right ERP investment, real estate companies can manage their properties, leases, and tenants in one centralized system: a system that also makes it easier to access and update information and keep your business running smoothly every day.