3 Reasons You Know You’ve Outgrown Your Spreadsheets

New commercial property management organizations need to run as lean as possible, but as they flourish and succeed, they frequently discover that they’ve outgrown the office software they started out with. How do you know when it’s time to explore dedicated commercial property management software? The following are surefire signs that it’s time to dig in and do some research:

shutterstock_9380755-resized-600You have too many versions of the same document – and everyone thinks their version is right.

Spreadsheets can easily be saved in multiple versions with multiple names; Jan has taken a version home with her to work on in the evening, while Stewart is working from the version on a shared drive at the office. If their edits can’t come together, nobody knows what the true story really is. With the right commercial property management software, whether you’re tracking leasing workflows, budgets or providing reporting to executives, you can maintain a single central document – and a single document means that everyone is working from the same information.

You don’t know what you know.

With different spreadsheets tracking different facets of your business, it can be difficult to connect critical pieces of information for maximum insight. For example, if Dollar Central is consistently paying their rent late, it would be helpful to know that they’ve also had a great deal of maintenance work recently, and whether their management is satisfied with the work done. Commercial property management software can deliver the insight you need to make the relationship with your customer right – and start getting cash on time.

Reports just take too darn long.

The VP of Finance wants to see the end of month report, and it takes two of your employees eight hours each to gather the right information from the various sources. That’s sixteen hours a month! By investing in the right commercial property management software platform, you’ll be able to save a great deal of that time – producing accurate and timely reports while also allowing your key employees to work on helping your business grow.


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