The real estate industry is evolving.
Once an exercise in door-knocking, face-to-face purchase agreement and lease negotiation, and county office deed recording, the real estate industry is now undergoing a radical digital transformation.
The word used for this transformation is PropTech. It is a somewhat glib but, at the same time, accurate term for the industry-scale rebranding underway.
Technology and innovation walk hand-in-hand in any industry, and real estate is no different.
Just as the idea of a “smart home” has gained widespread market recognition, so too has the evolution of the business behind the construction of that home.
One of the most valuable effects of the PropTech revolution is the door it has opened to truly effective tools for collaboration.
First, what is PropTech, exactly?
PropTech is a category, essentially. It is a term that indicates the group of tech-based start-ups servicing—and transforming—the real estate industry.
It also implies the transformation itself.
Thus, when the term “PropTech” is tossed around, as increasingly is the case, it means a certain type of company but also what that company is doing within a very old and established industry.
PropTech companies are the tech start-ups bringing new tools and new ways of thinking to the real estate game.
So what has PropTech done for collaboration in the real estate industry?
5 Tools for Effective Collaboration in PropTech
1. Business Technology Consulting
A PropTech partner will enable your real estate business to adopt the right software solutions for your organizational goals.
A PropTech collaborator will work with you to develop a plan for moving your real estate business forward technologically, emphasizing the need for mobility, 24/7 client response, and internal and external communication
2. Cloud Migration Services
Part of the technology implementation plan that you develop with a PropTech collaborator will include the migration of your data to the cloud.
A PropTech collaborator will ensure that your data migration occurs rapidly, allowing for the seamless operation of your existing operations regardless of operating system version, application, or database.
PropTech collaboration during cloud data migration will also improve your security, including in-transit data encryption and data-at-rest encryption.
3. Business Process Outsourcing
PropTech collaboration can improve your productivity and reduce costs through the outsourcing of key business processes.
Real estate businesses expend a huge amount of human and financial capital managing day-to-day operations that can be efficiently outsourced for significant cost-savings and to direct that human capital elsewhere.
4. Enterprise Mobility
PropTech collaboration will also enable you to efficiently adopt remote working capability for your employees.
Enterprise mobility, or business mobility, will allow employees to conduct business from remote locations via the use of laptops and mobile devices, utilizing cloud technology to access needed data.
Real estate and property management business will especially benefit from a mobile workforce, given the dissemination of both clients and assets.
A PropTech collaborator will plot your enterprise mobility roadmap, develop custom applications and an enhanced user interface, as well as providing 24/7 maintenance and support
5. Implementation Services
PropTech collaboration will allow you to efficiently implement the technology services that you need to function within today’s ever-evolving business environment.
From SalesForce to SAP S/4 HANA to AWS implementation, a PropTech collaborator will have the expertise and resources necessary to ensure that data and process migration is seamless and secure.
In short, PropTech collaboration will smooth your company’s entry into the digital workspace with maximum efficiency.
Let’s start a new project together. Contact us to discuss our services in detail.