Updated · Originally published
When it comes to time management, property managers need all the help they can get. After all, multi-tasking, on-the-spot decision-making, coordination with tenants and vendors, and facility maintenance require organization. Active property managers might wonder where all their time was spent, and whether all the effort was captured, and if not, what was missed. A keen memory is important, but it’s not the key to running an efficient and profitable business.
Since property managers are juggling so many balls in the air, they need to have a system or record that organizes what was done, for whom, by whom, why, when, and how long it took. This sounds easy, but it’s not, especially without the software and processes to easily capture all the necessary data.
Over the years, we have seen many property managers consider only custom-built proprietary software packages to run their business. These systems are often inflexible, present future compatibility risks, are not mobile-friendly, and sometimes don’t survive, leaving users with unsupported software.
If you are looking for a better way to manage your business processes, Microsoft Dynamics 365 is a solution that should be added to your shortlist. One of Microsoft’s flagship business lines of solutions, Dynamics 365 is flexible, fully integrated with the web, mobile, Microsoft Excel, Word, and Outlook. Custom-built solutions can box you in, while Microsoft Dynamics 365 can be molded into whatever business processes you have.
Microsoft Dynamics 365 is also a great fit if property management is a division of a larger operation with more complex CRM and ERP operations.
Using Microsoft Dynamics 365 with ForgeXRM Timesheets, your property management company can track the quantity and nature of the time spent on each property.
Let’s use the example of a property management company that manages eight properties. You typically have staff, such as maintenance technicians, who will regularly check and maintain the properties, usually on a schedule. And you respond to tenant maintenance requests too. The time spent on all these activities can be tracked in Dynamics 365.
When the technician arrives at building one, they can use their mobile phone to record their time against the specific building account. It could be categorized as "maintenance," "goodwill visit," or “monthly audit.” Then they go to building two and track "changed filters on floors one and two," and record the amount of time.
On-the-spot entry eliminates the need for someone else back at the office to interpret messy scribbles from workers in the field. Details entered on site and on time will be more accurate.
The data captured in ForgeXRM Timesheets for Microsoft Dynamics 365 can help you control overtime and labor expenses and stay on top of job costing in real time. You can easily see which properties are the most profitable and where you can become more efficient.
Information captured can also help you make hiring decisions. For example, you could look at the time tracking reports and say, "Johnny is really working hard. Every month, he sees eight properties, he's doing a lot of driving, not wasting time, tracking his data. He is solid. Maybe we could hire someone else and move Johnny into an oversight supervisory position." These are the types of business decisions that will be easier if you have the right systems and processes in place.
Before choosing a system for your property management company, consider evaluating the broader benefits of using Microsoft Dynamics 365 with ForgeXRM Timesheets.
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By Ryan Plourde, ForgeXRM,
