Does your business have a strong value proposition? Can you articulate why someone would want to buy from your company instead of a competitor?
Clarity in answering these generic questions will help how you position your business in any marketplace or industry but standing out from your competition is critical to your success and while the vast majority of people understand this principle, many are struggling to achieve it.
PropTech is the buzzword that is now becoming more mainstream to describe the use of technology in the property market. In the world of block management the Managing Agents and Property Management Companies that are providing services to this sector are utilising dedicated block management software to give them an edge over their competitors.
Below are some of the most important aspects to consider :
Streamlining Business Processes
The productivity and efficiency of your employees can be improved to a significant extent aided by block management software for certain tasks and projects. Understanding where you can automate those tasks and activities which are repetitive, mundane but crucially necessary to providing services to your stakeholders will help free up your time.
These areas include the bulk production of Service Charge Budgets and issuing of Demands, the bulk importing and recording of receipts through to the bulk payment of Suppliers.
In reality dedicated software provides reliable and robust support in dealing with all of the essential financial and administrative management activities you need to undertake, while reducing the effort and brain power required to get things done. This frees up time so you can focus on those things where you may be needed to resolve a thorny issue or where an opportunity may exist to add extra value to your clients.
Best Practice Workflow
Good software will have been designed to make the day to day life of those that use it as seamless and efficient as possible, great software will be designed to provide a solution that addresses the pain points of the user in the specific industry they work in.
In Block Management terms, that can be in areas like compliance, for example, does the software have Demand templates that are automatically formatted properly with the correct wording to take account of the current legislation that exists?
In addition, does the software automatically update the Demand templates when any changes in the law come into effect without the user having to do this or in fact remember to do this?
More and more often leaseholders and property owners are asking for information and they want it electronically. Having the ability so they can choose to receive their Demands via email, view their account, report problems and see relevant documentation that relates to their property is being addressed by using dedicated online software portals.
Web (or Cloud) based software provides an enhanced level of communication whereby Property Managers can use it to give relevant and timely updates to their leaseholders and owners about issues relating to their individual properties or in fact block wide matters.
Using dedicated software that can be branded with the Managing Agent or Property Management Company’s details to handle the day to day mix of communication which is required by the various internal and external stakeholders improves operational efficiency and increases customer satisfaction.
Software that has been designed and created by experienced professionals who have operated in the block management industry and have the knowledge and understanding of what is required to support a strong value proposition to make a difference to their stakeholders will help those businesses that wish to stand out from their competitors.
Blocks Online offer a comprehensive and fully integrated suite of web/cloud-based block management software with built-in best practice to support Residential Managing Agents and Property Management Companies. Explore our website for more information, alternatively obtain a brochure or request a free demo, today.