A Single Software Solution for Lease and Project Management
Lease administration and project management for your commercial real estate portfolio are two critical business functions. They require extensive planning, organization, and execution. While these two functions operate on their own, they are closely interlinked and often impact each other. Therefore, these functions integrated into a single software solution deliver numerous benefits to businesses of all sizes.
A commercial real estate software solution is a specialized technological platform designed specifically for managing and optimizing commercial real estate operations. It offers a comprehensive set of features and tools tailored to the unique requirements of commercial properties.
Fischer Solutions’ proprietary software, ManagePath, was created to streamline and simplify your real estate processes, saving you time and money. Having your Lease Administration and Project Management on one software solution helps optimize efficiency for your operations. Below you will find the top benefits of using one software solution for commercial lease administration and project management.
The Benefits of Software Integration
ManagePath eases the hassle of manual real estate administration and the project management process. Using an automated software solution gives you peace of mind and encourages successful projects and lease management. Here are the top benefits of having your lease administration and project management solutions in one software solution.
Better Data Accuracy and Quality
Having all data in one place ensures that the information is up-to-date, accurate, and complete. A unified software solution eliminates the risk of dull entry, data errors, and inconsistencies that can occur when using multiple systems. By reducing data redundancies and ensuring data integrity, businesses can make informed decisions based on accurate data, leading to improved outcomes.
ManagePath will automatically populate vital details from an existing Property/Lease when you are creating a new Project. This eliminates the need for the Project Manager to manually input the data, decreasing the potential for inputting incorrect information.
Improved Efficiency and Productivity
Combining lease administration and project management into a single software solution can help streamline business operations and improve efficiency. It eliminates the need to switch between different software applications. Thus, reducing the time and effort spent on manual data entry and updating multiple systems. With all the data in one place, teams can:
- easily access and update information
- track deadlines
- monitor project progress in real-time
This can enhance decision-making and improve overall performance in the commercial real estate sector.
Automatically “Trigger” Critical Dates
If developing an agile project management plan is your goal, our management software is built for you. During the automated lease abstraction, Critical Dates compile and ManagePath can employ setup logic to look at Critical Dates by:
- Type
- Facility Type
Trigger logic automatically creates a new Project “X” number of days prior to the Critical Date needing to be exercised. This ensures the Projects team never misses a critical date deadline. The Project Manager also benefits as it helps build the Project Funnel of new Projects in a Due Diligence phase.
Enhanced Collaboration and Communication
Generally, collaboration and communication are critical for the success of lease administration and project management activities. With a unified software solution, team members can easily collaborate on tasks, share information, and communicate in real time. This reduces the risk of delays and errors, enabling teams to work more efficiently and effectively.
Better Financial Management and Reporting
Integrating lease administration and project management data in a single software solution provides better financial management and reporting capabilities. Not only is it a project management or lease administration software, ManagePath’s Project Financials module helps businesses:
- track expenses, budgets, and timelines
- generate reports that provide a comprehensive view of the financial status of each project
This helps to ensure that projects are completed within the budget and financial goals are met.
Increased Visibility and Control
A single software solution provides increased visibility and control over the lease administration life cycle and project plan. With a centralized dashboard, businesses can easily track progress, identify potential risks, and take corrective action in real time. This ensures that projects meet the desired outcomes.
Conclusion
In conclusion, integrating lease administration and project management into a single software solution can deliver numerous benefits to businesses. Overall, ManagePath provides the tools and capabilities needed to successfully manage complex lease administration and project management activities. Request a Demo TODAY to see how Fischer Solutions can work for you!
