Property Management Digitalisation Adoption Real Cost
There are too many misconceptions in the industry that digital adoption is expensive & unaffordable!
We are here to prove how wrong this perception is with data and real comparisons for all to understand once and for all that the cost of not adopting digital transformation is what will hold your business behind competition!
In today's fast-paced world, efficiency and innovation are key to staying ahead and, at ServeDeck since 2019, we have been proving that cutting-edge technology doesn't have to come with a hefty price tag!
Discover how smart digitalised solutions are revolutionizing facility management without breaking the bank with this 6 steps approach, proving how wrong is the idea that digitalisation is expensive!
1. The Myth of High Costs
One of the most common misconceptions about digital transformation is that it comes with a high price and demands a significant increase in manpower. However, ServeDeck has been proving this widespread perception wrong by providing cost-effective solutions that have allowed property and facility management companies to expand their business without the need for substantial staff increases.
Expand Your Business and Double Revenue with Minimal Headcount Increase
ServeDeck’s intelligent platform streamlines operations, enabling businesses to handle more projects with the same or a slightly increased team. By automating routine tasks, enhancing communication, and providing real-time data access, it empowers companies to double their revenue while only requiring a 20% increase in head count. This efficiency translates to substantial cost savings and improved profit margins.
Real-Life Savings
Case studies from our existing clients have proven that significant cost reductions and increase of operational efficiencies can be achieved. One of our first clients, managing a busy business district south of Kuala Lumpur, reported a 30% decrease in tasks turnaround time and a 25% reduction in operational costs, all while managing more projects and further expanding their business.
We have proven, beyond doubt, that digital transformation doesn't have to be an expensive endeavour. Leveraging our platform, property and facility management companies could achieve remarkable growth and high efficiency without breaking the bank account!
The actual cost lies in the “Cost-of-Not-Adopting” digitalisation and digital transformation, as outdated processes and inefficiencies will annihilate your business’s potential for growth and success!
2. Streamlined Operations
Adopting the right digitalised, fully integrated, and all-in-one solution helps property and facility management companies streamline their operations by breaking down silos and creating a highly collaborative workflow. This seamless integration not only enhances efficiency but also reduces errors and costs.
The Truth of De-Siloing Processes
Before Adoption
Imagine a facility management company where different departments operate in silos. The maintenance team uses one system, the property management team uses another, and the finance team has its own tools. Communication between these departments is slow and often involves manual data entry, leading to delays and errors. For instance, a maintenance request might be entered incorrectly, causing issues in tracking and resolving it.
After Adoption
With our solution, all departments are now collaborating into a single platform, facilitating real-time data sharing and communication. Here's how it has transformed their workflow:
Maintenance Management
- All maintenance requests are entered into ServeDeck once and are accessible to all relevant departments in real time.
- This eliminates duplicate data entry and ensures accuracy.
Property Management
- The property management team can easily access up-to-date maintenance information and track the status of requests.
- Changes and updates are instantly reflected across the platform, keeping everyone on the same page.
Vendor Coordination
- The procurement team can coordinate with vendors within the platform, streamlining the process and reducing the chances of miscommunication and additional costs.
- All communications and documents are stored in one place, making it easy to track progress.
Financial Tracking
- ServeDeck's financial tracking feature allows the finance team to monitor expenses and budgets in real-time, ensuring transparency and informed decision-making.
- The above reduces the risk of costly errors and helps manage finances more effectively.
Tenant Communication
- Our solution facilitates seamless communication with tenants, allowing them to submit requests and receive updates through the platform.
- This improves tenant satisfaction and reduces the workload on property managers.
Efficiency and Cost Reduction
Reduced Errors
By integrating all processes into a single platform, we minimize the risk of errors caused by manual data entry and miscommunication.
Time Savings
Streamlined workflows reduce delays and improve response times, allowing teams to handle more tasks, and as a result increase revenue.
Cost Savings
Enhanced efficiency and accuracy lead to significant cost savings, as companies can avoid the expenses associated with errors, delays, and disputes.
ServeDeck's ability to de-siloing processes and create a unified, efficient workflow has been and is a game-changer for those property and facility management companies that adopted it.
3. Vendor Coordination
In the property and facility management industry, coordinating multiple vendors on multiple tasks is a logistical and communication nightmare. Traditional methods often involve endless email threads, phone calls, and manual tracking, leading to confusion, delays, and inefficiencies. With ServeDeck, all vendor coordination happens seamlessly within a single platform.
Improved Communication
We have facilitated real-time communication between the management team and vendors. Any updates, changes, or requirements can be instantly shared, ensuring everyone is on the same page. This transparency minimizes the risk of miscommunication, which can lead to costly errors and delays.
Streamlined Documentation
All vendor-related documents, such as contracts, invoices, and correspondence, are stored in ServeDeck's centralized system. This makes it easy to track and retrieve any document when needed, saving time and reducing the chances of losing critical information.
Efficient Task Assignment
Our task management features allow property managers to assign tasks to vendors and track their progress in real-time. This ensures that all tasks are completed on schedule, maintaining the efficiency and smooth operation of the facility.
4. Financial Tracking
Effective financial management is crucial for the success of property and facility management companies. Offering, as we do, comprehensive financial tracking tools providing real-time insights into expenses and budgets, allows for better financial control and decision-making.
Budget Monitoring
Enabling property managers to set and monitor budgets for various projects and departments with real-time tracking, ensures that expenses are kept within budget limits, and any deviations are immediately flagged for corrective action.
Expense Reporting
Detailed expense reports can be generated with just a few clicks, providing a clear overview of where money is being spent. This transparency helps identifying cost-saving opportunities and areas where efficiency can be improved.
Informed Decision-Making
With ServeDeck's financial data at their fingertips, managers can make informed decisions based on accurate and up-to-date information. This reduces the risk of financial mismanagement and ensures that resources are always allocated effectively.
5. Tenant Communication
Effective communication with tenants is a key aspect of property management. We offer a complete tenant communication module that streamlines interactions, enhances tenant satisfaction and experience, and reduces the workload on property managers.
Centralized Communication
Consolidating all tenant communication into one platform eliminates the need for multiple communication channels. Tenants can submit maintenance requests, ask questions, and receive updates through the platform, making communication more efficient and better organized.
Real-Time Updates
Tenants receive real-time updates on the status of their requests, keeping them informed and reducing the number of follow-up inquiries. This transparency builds trust and improves tenant’s satisfaction and retention.
Automated Notifications
Sending automated notifications to tenants for important events, such as upcoming maintenance, lease renewals, or policy changes ensures that tenants are always aware of important information, and missed deadlines will be eliminated.
6. Enhanced Collaboration
Collaboration among all stakeholders is the key strategic component for smooth operation of property and facility management. ServeDeck fosters collaboration by providing tools that facilitate seamless communication and coordination.
Team Collaboration
Our platform allows team members to collaborate on tasks, share updates, and provide feedback in real-time. This collaborative approach enhances teamwork and ensures that everyone is aligned with the final aims.
Stakeholders Engagement
ServeDeck enables property managers to engage with various stakeholders, including tenants, vendors, and owners, through a single platform. This holistic approach improves communication and ensures that all parties are informed and involved.
Call to Fast “Real” Digitalisation Adoption
If all the above reason with you, will you invest the yearly cost of one to two staff to be able to double up your operational ability?!
ServeDeck's integrated platform revolutionizes property and facility management by breaking down silos through streamlining processes, enhancing collaboration, and providing real-time insights to all participants. The result is a more efficient, cost-effective, and streamlined operation.
A Final Set of Data as Food for Thoughts in Your Digitalisation Decision Process
From industry data, https://dojobusiness.com/blogs/news/property-management-company-profitability, the average revenue per employee in a traditional property management business is approximately RM450,000 to RM520,000 per year. This means that, on average, a property management company would need around 7 to 9 employees to generate RM4.5 to 5 million in annual revenue.
Of course these numbers could vary depending on the specific services offered and the efficiency of traditional operations. Industry data confirm that by streamlining processes and reducing inefficiencies through adoption of digitalised solutions such as ServeDeck, companies could potentially achieve higher revenue per employee.
Recalculating the example above, by increasing the headcount to 10 to 12 people and adopting a powerful digital transformation tool like ServeDeck, the property management company in our example could potentially achieve higher efficiency and productivity. ServeDeck's ability to streamline operations, enhance communication, and provide real-time data access can significantly boost overall performance.
ABOUT THE AUTHOR
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opinions expressed in this article are solely of the author, Dr Daniele Gambero.
Dr Gambero has been an expatriate to Malaysia from Italy, since 1998 and has more than 35 years of real estate experience. He is the co-founder and group CEO of REI Group of Companies, the Co-founder of Propenomy.com and the president of the Malaysia Proptech Association.
In the past 10 years Daniele, as international and TEDX speaker, has engaged several hundreds thousand people talking about Property, Economy, Propenomy, Digital Marketing and Motivation. He is also a bestselling author and columnist on several magazines and main stream media. You can reach him directly through his LinkedIn page here.
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