Yardi: Optimising technology results in more success in real estate

Said Haider is the Regional Director, Middle East, Yardi Image Credit: Supplied

In a recent global survey, management consultants Ernst and Young found that while 61% of real estate companies around the world have adopted a technology solution, only 28% have embraced multiple products. However, despite the increase in adoption of technology, is penetration as effective? The EY research shows that 58% of companies find new systems do not integrate easily, often because there are too many different systems in use. So, how can we determine what technology supports an organisation’s long-term value and delivers its top business needs?

Global PropTech solutions provider, Yardi, has created a safe and engaging environment for real estate stakeholders to manage commercial spaces (office and retail). This platform helps increase data accuracy and leverage insightful analytics to make fact-based decisions portfolio-wide, as well as improve transparency into space utilisation (how much space is vacant or occupied or how much is needed) through its asset management software.

Lower costs with One Connected Platform

Yardi’s asset management software is used by CEOs, COOs, asset managers, brokers and leasing agents to leverage in-depth operational data to improve portfolio visibility and make better business decisions. It helps connect teams, enhance collaboration, and streamline operations to reach revenue targets.

So, what can one connected solution do for you and your business, and why should you add it to your operations?

Asset management software offers greater insight, accurate forecasting and improved project tracking. It provides in-depth operational data and predictive insights with recommended actions to elevate asset performance by lowering costs, balancing risk and increasing revenue.

As a result, asset managers gain unprecedented visibility into their portfolios, including asset and tenant health. They can maintain data integrity, close deals faster with minimum risk, complete projects on time, and forecast returns within the same platform.

Through its leading-edge technology, Yardi’s asset management software also helps to:

1: Provide real-time tenant information, connected with the budgeting system to ensure leasing targets are met.

2: Gain complete oversight of the construction and project management teams to ensure jobs keep moving forward, are on time and on budget. Manage RFP/bidding, approvals, job milestones, budgets, contracts, and change orders from a single customisable dashboard.

3: Eliminate rent roll spreadsheets from being passed around when reforecasting revenue. It provides an intuitive customisable platform for your asset managers to manage at-risk units and forecast speculative deals with ease – improving the accuracy of the revenue forecasting and saving time. Expense budgeting is streamlined – property managers can oversee budgets by property or by GL across multiple properties from one screen.

4: Keep properties operating in peak condition by automating maintenance scheduling. Track work orders, equipment and inspections, reduce repairs with preventative maintenance, and ensure prompt attention to maintenance requests with specialised dashboards.

Go paperless with Procure to Pay

Yardi’s mobile-enabled platform helps save time and money in the procurement process. By utilising an end-to-end procure-to-pay solution, property managers can go paperless, improve sustainability, and reduce manual tasks. Invoices are processed electronically helping to lower costs and increase efficiency, whilst maintaining oversight and approvals within one connected solution.

The platform offers self-service portals for your vendors to manage their entire relationship with you, as well as other owners with whom they conduct business. You can give your vendors visibility into POs, work orders, contracts and RFPs.

It helps standardise purchasing by leveraging virtual catalogues and provides access to robust reporting, which allows you to view spend by supplier, portfolio, or a single property across multiple vendors. This provides complete transparency and control of spend across your portfolio.

Investing in asset management software and procure-to-pay solutions that work as one connected system helps asset owners invest strategically.

During 2021, we predict the construction cycle to slow down due to the introduction of new regulations to balance out supply and demand. Looking at the pipeline of upcoming developments, it is believed that further pressure will be exerted on all asset classes of all grades across the region. We expect real estate developers and operators to continue offering a range of incentives and subsidies such as fee waivers, discounts, deferments, rent-to-own and more to help prices stabilise or even increase in the next 12 months.

Yardi continues to be the catalyst for change in the industry, from finding innovative ways of offering differentiated solutions amid a global pandemic, to leveraging technologies such as artificial intelligence, data analytics, machine learning, and blockchain to solve big business challenges.