10 November 2022

7 Reasons to Use Asset Management Software in Real Estate

Asset managers rely on quantifiable data about facilities in order to make important decisions regarding downsizing or scaling up their real estate portfolio, especially in the post-COVID world. With the right real estate asset management software in Dubai, asset managers can gain valuable insights that assist them in managing their real estate portfolios to boost productivity and help revive the industry. Asset management software can significantly increase productivity through automation, which is one of the major reasons why the real estate industry should consider it as a solution. Here is more on why asset managers in Dubai need asset management software to streamline their operations:

The Cost Factor

Asset managers need to evaluate the cost of properties. Apart from the cost of the property, there are several other factors that need to be taken into consideration. Real estate asset management software provides a broad view of the property cost and revenue which plays an essential role in the decision-making process. It can provide information like the cost per square foot and the cost of ownership. Such information makes the task of asset management much easier for asset management companies in the UAE.

Financial Metrics

In simple terms, real estate asset management software in Dubai provides quantifiable data to asset managers. Such information is quite difficult to acquire under present circumstances. This is what makes real estate asset management software valuable to asset managers. Asset management software can provide a wide variety of information including the cost of the lease, annual maintenance, and revenue received. Asset management software gives asset managers quick and easy access to such important figures.

Future Plans

Asset managers need to perform a wide range of tasks to ensure that the company is headed in the right direction. Asset based insights are what allow asset managers to make such important decisions. Asset management software allows managers to optimise the performance of real estate and find innovative ways to cut costs and generate more revenue.

Forecasting

In Dubai, asset management software also helps managers evaluate factors such as profit, loss, and expenditure. Such information can come in handy when it comes to making predictions for the future of a particular facility. Asset management software significantly improves the ability to predict the future which gives asset managers a competitive edge in the market. Asset managers can now direct funds to a facility that is more profitable instead of wasting money on a facility that requires huge maintenance costs. 

Workforce Administration

Asset management is not only about managing assets. It also means managing the people that interact with the assets. In terms of corporate real estate, asset managers need to manage workforce distribution. Real estate software provides data related to the overall occupancy, capacity, and cost per head. Companies need to manage assets while taking into consideration the workforce as well. In the end, the main purpose of any facility is to cater to the needs of the workforce.

Generate Reports

The task of compiling large amounts of data can be a bit difficult for asset managers. Asset management software can assist asset managers in organising massive amounts of data effortlessly. It not only helps save time, but it also improves performance of the asset. Most of the asset management software use automation and machine learning to compile and contextualise information. It gives asset managers the added advantage they need to further boost productivity and secure their future investments.

Ease of Access

Asset management software provides valuable insights that can be used by the asset managers to make crucial decisions to determine the future of their real estate facilities. The task of managing multiple facilities can be a bit overwhelming without the use of asset management software. Therefore, it is quite evident that asset management software is not only a reliable tool for asset managers but also a requirement for real estate management.