In a turbulent property market and uncertain economic climate, leaders with the best data — and the ability to interrogate, analyse and generate actionable insights — stand to earn a significant competitive advantage, says TechnologyOne.
Data is power, says TechnologyOne’s asset intensive industry director, Brian Devlin.
“A detailed and precise understanding of the market drives strategic planning and the delivery of long-term projects.
“And yet, property organisations often lack a single source of truth – and that makes it hard for them to identify or take advantage of efficiencies and focus on what’s really important: driving business outcomes.”
CFOs, for instance, often struggle to obtain a single unified and current view of their organisation’s performance, Devlin explains.
“The data they need is either out of date, or hard to access as it extends across disparate systems, spreadsheets or paper-based documents.”
The ability to manage large data sets and analyse trends to identify actionable insights requires a sophisticated and intelligent solution – one that is powerful, flexible, intuitive and easy to use.
This solution should provide users with full visibility over enterprise-wide information and access to real-time data to aid in informed, strategic decision-making.
To achieve this, property organisations need a strong digital core – the platform of any modern business – to respond more quickly to changes in market conditions and to take advantage of the ups and downs assailing the sector.
Take JWH Group, which uses TechnologyOne’s integrated enterprise solution to automate its accounts payable process and improve its reporting capabilities.
A composite group of building companies spread across 12 locations in Western Australia, JWH Group is now the third largest home builder in the state, and a top 10 project builder in size nationally.
“We’ve gone from using three disparate, legacy accounting systems, to one up-to-date solution,” says JWH Group’s chief technology officer, Pep Oliveri.
“Now all of the company is consolidated under the one system, reporting is easier and we’ve got efficiencies in the way we do our entire accounts payable process.
“It’s made life a lot easier because our general managers can see how their companies are performing, they know invoices are being paid and their clients are being looked after,” Oliveri concludes.
Find out how TechnologyOne can help your company gain greater visibility across the entire property lifecycle, so you can focus on business growth and transformation.
TechnologyOne is Australia’s largest enterprise software company and one of Australia's top 200 ASX-listed companies.