Commercial real estate projects are rarely straightforward, and tend to dwarf residential schemes in terms of their complexity and their uniqueness.
Because of this it is wise to make use of the software solutions that have emerged to streamline and simplify the various aspects of overseeing commercial developments.
The automation abilities of the latest tools are especially impactful, so let’s talk about what they offer and why this is relevant in the current market.
Cutting Out Time-consuming Admin
The main selling point of any software automation system is the ability to take repetitive, tedious tasks which would normally have to be completed manually, and shift them over to a program which takes care of them without requiring human input.
The more admin you can offload in this way, the more time you’ll have each day to deal with the other responsibilities of your role.
As well as enhancing efficiency and productivity, it also means that the job of CRE development is a more satisfying and less frustrating one. This is significant whether you’re a developer, or a manager looking to help employees unlock their potential.
Keeping Costs To A Minimum
Because of their complexity, commercial construction projects not only cost a lot to get off the ground, but are also susceptible to unexpected spikes in expenses if mistakes are made in the way they’re managed.
With automation on your side courtesy of real estate project management software, every aspect of the budget can be overseen from start to finish.
And if you need to make changes, or circumstances shift, then you can automatically calculate how this will impact your anticipated spend for different stages of the development.
Ultimately this level of automation, combined with excellent visibility of key metrics, ensures that projects can be brought in under budget, and overruns or shortfalls can be quashed.
Providing Data-driven Predictions
One reason that final costs might not match anticipated spend on a CRE project is if you’re having to rely on manual calculations made without a complete picture of the state of play, or without access to all of the data you need to draw precise insights.
Automated management solutions are able to delve into data from various different sources, pulling disparate points together and making predictions, projections and real time calculations that don’t rely on guesswork or estimates.
Best of all, you can use historic data as a means of gaining insights into future projects, so all of that information you’ve generated over previous CRE schemes does not need to lay dormant.
All of this enables you to make decisions which are founded on facts and evidence, which also feeds back into the cost efficiencies discussed earlier.
Tracking Progress & Expressing Status Updates Unambiguously
In a less flashy yet still significant way, CRE management software uses automation to keep tabs on the progress that’s being made in all projects within your remit.
There’s something elucidating and appealing about having the ability to get a snapshot of where things stand at a glance, rather than having to check multiple sources to see whether you’re hitting targets and sticking to your budget, or facing down problems that are brewing and ready to erupt.
Better yet, this information is not expressed in a confusing way, but rather visualized so that even non-experts can get a sense of the status quo at any one time.
So in terms of communication and collaboration across different departments and in remote working scenarios, this type of software proves even more useful.
Keeping Customers On-side And Up To Date
The communication and collaboration capabilities afforded through the automated sphere of CRE project management software aren’t just limited to internal use.
In fact there’s a lot to be gained by bringing clients into the fold and letting them see what insights you’ve drawn and what progress you’ve made as a project moves forward.
Being able to illustrate the reasons behind certain decisions, and having a means of providing predictions and projections which are accurate, will mean that customer satisfaction levels are optimal at all times.
And clients that are happy with your work will be more likely to get you back onboard for future projects, and to recommend your services elsewhere.
The Bottom Line
Automation isn’t about taking humans out of the equation, but about empowering them with tools that make their jobs easier. This is definitely the case when it comes to CRE project management, and so snapping up a modern software platform is essential.