Guest post contributor: Jeri Frank, Co-Founder and CEO of STRATAFOLIO
The saying may be: you’re only as good as the company you keep, and while that is certainly true in both a personal and business setting, it can be argued that you’re only as good as the software you invest in. Good software will, at minimum, simplify the day-to-day, make management easier and help you streamline processes. But is that enough to commit to a multi-thousand-dollar software platform? In this blog, we explore some of the larger benefits that software platforms can provide to business owners.
At a high level, software platforms provide significant value to business owners by helping them to streamline their operations, improve efficiency, and stay competitive in their respective markets. Here are some of the benefits that software platforms offer to businesses.
Increased efficiency
Software platforms automate tasks that would otherwise be time-consuming and prone to human error, such as data entry, record-keeping, and inventory management. By automating these tasks, businesses can free up their employees to focus on more critical tasks, which can lead to increased productivity and profitability.
For those in real estate, investing in a software platform that automates tasks such as lease escalations and certificate of insurance tracking can mean the difference between hours and weeks every month. Commercial real estate software like STRATAFOLIO helps automate critical tasks that owners and operators are managing, and frankly wasting their time doing, regularly. Time could, and should, be better spent on tasks that can bring in new clients and grow the business.
Improved customer experience
Many software platforms provide tools that help businesses better understand their customers, such as customer relationship management (CRM) software. By using these tools, businesses can personalize their interactions with customers and provide more tailored products and services, leading to increased customer satisfaction and loyalty.
Technology like live chats, co-browsing and mobile applications can help increase customer satisfaction by providing more immediate answers to customer concerns. Gone are the days when customers could wait hours or days for a response. Getting immediate resolution to concerns is standard practice, and can positively impact both new sales and current customers.
Better decision-making
Software platforms provide real-time data and analytics that businesses can use to make informed decisions. By analyzing data such as sales trends, customer behavior, and market conditions, business owners can make better decisions about pricing, inventory management, and marketing strategy.
Sales analytics software, like HubSpot Sales Hub, for example, helps businesses supercharge their sales process with their sales CRM that features sales engagement rolls, configure-price-quote (CPQ) technology, and sales analytics.
Cost savings
Software platforms can help businesses save money by automating tasks that would otherwise require manual labor, such as payroll and accounting. They can also help businesses to identify areas where they can reduce costs, such as by optimizing their supply chain or reducing their inventory.
Scalability
It’s critical to find software platforms that scale as you scale. Most software platforms are designed to scale with businesses as they grow, providing the flexibility to add new features and functionality as needed. This scalability can help businesses to stay competitive and adapt to changing market conditions.
Overall, software platforms provide significant value to business owners by improving efficiency, customer experience, decision-making, cost savings, and scalability. If you intend for your business to grow and be successful, investing in software that works for your business is a no-brainer.
About the author: Jeri Frank is the Co-founder and CEO of STRATAFOLIO, an online software solution designed to help commercial real estate owners optimize their real estate portfolio management.
Jeri is a frequent contributor to Forbes Business Council and has written extensively about managing commercial real estate using QuickBooks. She has also participated in IREM and CCIM podcasts and webinars. STRATAFOLIO was named one of the top commercial real estate portfolio/property management platforms by CREtech, and selected into the prestigious 2022 2022 NAR REACH program.