ERP System Selection & Assessment

ENTERPRISE RESOURCE PLANNING SYSTEMS FOR REAL ESTATE

Real Estate Technology

No one can afford to stick with “business as usual” in a world of rapidly changing real estate technology solutions. For large real estate companies (owners, brokers and property managers) it often means moving from an outdated legacy property management software or system to a state of the art, integrated enterprise resource planning (ERP) system for their property or facility management software.

The real estate technology integrates an array of applications, including your general ledger/accounting system and other key components of your operation (such as work orders, payroll and lease administration tools) along with specialized modules that will allow you to easily process 421As, perform Procure 2 Pay and provide service resident screening, just to name a few. Through our process review and gap analysis, FITECH Consultants provides the insights and information you need to make an educated decision about your real estate management software.

 

We know the real estate business - including 421a, resident screening, procure to pay, and DHCR regulations - and can streamline these processes into an optimized facility management software system.

 

Process Review

We first take a 360° look at your current business technology and how it aligns with your operation.
We evaluate your internal processes and your computing needs to help you make the smartest decisions about your ERP system’s design.

Gap Analysis

This process evaluates the deficit between what you are using now and what you actually need. We look at:

  • Your company’s current IT structure (perhaps an antiquated system or one that lacks updated software) vs. the system you should have to maximize productivity.
  • The efficiency gap between how you are using your real estate management solutions (from MRI, Yardi and others) and how they should be optimized for your operation.
  • How to automate your custom reports.

Based on our evaluation, our consultants will determine how to best integrate and streamline the entire operation to improve productivity and profitability -- the heart of a well-designed ERP system.

FITECH Consultants provide the insights and information you need to make an educated decision about your property management software systems.

 

System Selection

One unique aspect of FITECH’s consulting team is that our experts have actually worked in real estate and with real estate technology -- so we know what to look for, what to ask and how to assess if the IT platform you are currently on is working optimally for you. For example, are your needs for property management software or facility management software holding up key aspects of managing your portfolio's needs? Remember, the real estate technology we help you select (or the one you are currently using) has to align with your operation, make sense for your tenant profile and deliver greater efficiency and accuracy.

For example, if are you in a niche market with specific accounting and reporting requirements (like senior or student housing), our team will recommend and integrate the right products for your different populations.

When it’s time to select your ERP system’s software, we can organize the entire selection process for you, schedule application demos for your users and recommend those modules that will serve your current and future needs. Questions to consider are:

  • Is the solution scalable?
  • Does the vendor provide a convenient upgrade path in the future?
  • Do the products integrate easily with each other or our existing modules?

We are experts in real estate software and property management systems.