Did you know that most commercial real estate firms – some managing many billions of dollars worth of assets – still use Excel and other spreadsheet software programs to manage their most critical data? Multiple spreadsheets spread out across different locations are virtually impossible to integrate and secure.
This leads to two big problems.
First, it makes work more complicated: companies are spending too much time on basic quarterly reporting – leading to increased headcount, and a loss of productivity and capital.
Second, it’s risky. Much of this key data is captured at the beginning of the lifecycle of the asset, in the underwriting phase. If the data are not correct, it will lead to inaccuracies throughout the remaining stages of the asset’s life cycle. Your operational and reputational risk will increase.
There’s a better way to manage your critical data. To learn more, see our newest infographic below: