Is your property management company still using QuickBooks or Excel for accounting and other tasks? While these programs may have once served their purpose, if you’re still using them today, you are missing out on a number of key features and benefits that can help you grow your organization and achieve continued success. Still not convinced? Here are 5 compelling reasons it’s time to consider investing in professional property management software.
Double the Work
One of the biggest downsides to using either Excel or QuickBooks is that neither program allows you to do a number of key functions, like receive online payments and track maintenance requests electronically. As a result, your team must manually enter this data using a multitude of different programs and systems, essentially creating twice the work. What could be accomplished if this time wasn’t being wasted?
Complicated (or Complete Lack) of Upgrades
Excel has been relatively the same for decades now. Quickbooks may have been upgraded and enhanced a few times, but the cost and hassle of updating this on your end has probably kept you from making the move. As a result, your operations are stuck in the past. Quality property management software can be updated regularly with virtually no disruption to your business.
Lack of Convenience
In today’s digital age, people want to work with brands that can make their lives easier. This is especially true of the Millennial generation, which is poised to take over as the largest consumer demographic over the next few years. If you’re not using property management software that offers your customers convenient options like an online payment portal, you’re losing competitive ground.
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What happens if you need to look up some key financial information and you’re at home or on the road? If you’re using older systems, chances are you’ll be forced to trek into the office to retrieve the data that you need. This is a huge waste of time. Now, imagine being able to instantly access any info you need from anywhere. With property management software, you’ll have this level of flexibility.
Inability to Grow
The goal of any property management organization is steady and sustained growth. The problem is, with antiquated programs and systems, this type of expansion is difficult if not impossible to support. The beauty of property management software is that it is designed to seamlessly scale up as needed, allowing you to do more with less and achieve continued growth without worrying about your system not keeping up.
When you first started your property management company, basic programs may have been sufficient for keeping up with your needs. As you continue to grow, however, it’s likely becoming more and more evident that these needs are no longer being met. If you’re experiencing one or more of the above obstacles, the time to consider investing in property management software is now.
Still have questions or concerns? No problem. Contact us today or schedule your free online demo.
Find out what more you can do to boost the productivity of your organization. Download a free copy of The Property Manager’s Guide to Maximizing Productivity.