Improve Your View with Asset Manager Dashboards
Real estate asset and investment portfolio managers need to maximize asset performance and value. Doing that requires complete and accurate information. What are their best options for getting it?
Many asset managers have traditionally relied on a best-of-breed system built from niche software providers that serve the various functional categories in asset management – leasing and deal management, construction and development, operations and maintenance and financials. Under this approach, each system supplies its set of specialized data to a warehouse. Once the data is standardized, comprehensive reporting and dashboards that illustrate performance measures from the various systems is possible. However, sharing and normalizing data across these systems can be difficult, time-consuming and complex. The resulting product also doesn’t allow drilling through the dashboards’ charts to the underlying raw data. Any other approach that coordinates reporting from disparate systems is similarly manually intensive, making the development of a single comprehensive asset management dashboard from any best-of-breed approach extremely challenging.
The end-to-end approach
An alternative to the best-of-breed model calls for using a single connected ERP platform. Such a system can easily provide a single dashboard that integrates asset management, operations, forecasting, financials, construction and leasing data. This approach eliminates data silos and the time-consuming, costly data normalization required to populate a data warehouse with meaningful performance measures across all functional areas of a business. Insight into key performance metrics presented by dashboards tailored to their needs helps asset managers, analysts, portfolio managers, investment officers and other real estate professionals work more efficiently and make informed decisions that increase and create value for real estate assets.
Asset manager dashboards provide graphical representations of raw data for detailed analysis along with tools for interacting with and evaluating business performance, ultimately creating a complete view of the business. It’s a true end-to-end view that encompasses acquisition, development, lease-up, maintenance and operations, all in a single view.
With a single source of information, asset manager dashboards display performance measures and metrics in charts that are drillable to the underlying detailed data. For example, users can view a chart of upcoming expiring areas and drill to the individual expiring leases, all the way to the rent schedule and lease terms. They can also manipulate data and charts on the fly to gain unique insights that aren’t easily determined from static reports. Other options include changing a chart’s time scale, magnifying trending information and making issues easier to spot. In addition, color coding can be applied to flag performance outliers and make them easily recognizable.
A fully integrated solution delivers asset and portfolio managers:
- Revenue growth forecasts gleaned from leasing deals in the pipeline and their stages
- Accurate assessment of revenue potential derived from trends in pipeline deals’ rent-per-square-foot information
- Insight into industry or tenant risk exposure from expiring area and rent determined by region, asset class or tenant industry classification
- Deployment of capital spending from construction and development projects’ forecasted costs to complete, actual expenditures to date, and budget remaining to evaluate
- Identification of operations-related controllable expenses
- Financial and leasing forecasts
Value creation demands a holistic and comprehensive view of assets under management. Planning a successful asset strategy means evaluating the entire business including construction, development, lease deal management, maintenance and operations. To that end, asset manager dashboards deliver a complete view of the business and an array of measurement tools. The single connected solution approach also allows an organization to simplify its IT footprint, reduce total cost of ownership, and gain a comprehensive view of portfolios and assets in a much shorter time frame than is possible with best-of-breed approaches.
This Week’s Sponsor
Now in its fourth decade, Yardi® is committed to the design, development and support of software for real estate investment management and property management. With the Yardi Commercial Suite™, Yardi Multifamily Suite™, Yardi Investment Suite™ and Yardi Orion™ Business Intelligence, the Yardi Voyager® platform is a complete real estate management solution. It includes operations, accounting and ancillary processes and services with portfolio-wide business intelligence and platform-wide mobility. Yardi is based in Santa Barbara, Calif., and serves clients worldwide from offices in North America, Asia, Australia, Europe and the Middle East. For more information, visit www.yardi.com.
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UPCOMING REALCOMM WEBINARS
Commercial Real Estate Information Management - Best Practice Showcase - 5/10/2018
Years ago, the choices were much simpler. Property Management, Accounting and Email were all you needed to run a Commercial Real Estate organization. Fast forward to today and the complexity of the industry’s information management requirements have grown exponentially. Single stack, integrated best-of-breed, and open ecosystems are all options under consideration. Databases, warehouses and now lakes, as well as new technologies such as AI, Machine Learning and Blockchain all add to the growing complexity of real estate information management strategy. Additionally, there are thousands of new companies that want to be part of the solution. Join the debate as best practices are uncovered.
Founder of Realcomm Conference Group, an education organization that produces Realcomm, IBcon and CoRE Tech, the world's leading conferences on technology, automated business solutions, intelligent buildings and energy efficiency for the commercial and corporate real estate industry. As CEO, Jim interacts with some of the largest companies globally pertaining to some of the most advanced and progressive next generation real estate projects under development.
Sam Wong is Head of Analytics and Data Science at QuadReal. He has over 15 years of experience in Analytics and has worked within numerous industries with a wide range in technologies. Sam is a featured speaker on Data Science and Analytics, most recently he spoke at the 2018 Gartner Data and Analytics Summit and at IBM THINK 2018.
Chong P. Huan is Executive Vice President and Chief Information Officer at Inland Real Estate Group. Chong has over 22 years experience and a Proven track record in aligning business with vision and IT strategies to achieve efficient and cost-effective IT organizations. Diverse expertise in financial products and services, order and portfolio management, risk management, securities trading, processing, research and operations with IT acumen to achieve growth and enhance shareholder value.
Brian Zrimsek is Industry Principal at MRI Software. Brian brings 25 years of large scale enterprise software experience to MRI, most recently as an IT Vice President at the Irvine Company. With over a decade of experience in real estate technology he has become a well-known subject matter expert, industry panelist, and trusted advisor, especially within the multifamily real estate market.
Abhinav (Abe) is an experienced investment, financial, technology, business development and operations strategist. He is currently the Chief Revenue Officer for LEVERTON. Abe has worked with many law firms and institutions over the years and has a deep understanding of the real estate technology / CREtech / PropTech space. With LEVERTON, Abe is revolutionizing how corporations use artificial intelligence based machine and deep learning algorithms for data extraction.
Alex Stanton has over 20 years working with in the real estate application space. Currently as VP of Solution Consulting for Yardi Systems, he leads the solution presales team, who work with customers and prospects to explore how to address business needs. Alex’s recent areas of focus has been to work with clients on the real estate specific applications of cloud, mobile, 'big data' and energy.
Jeff Thompson is co-founder and CEO of AwareManager. He leads the company's commercial and corporate real estate clients’ most complex projects. By combining his industry and IT expertise, Jeff helps organizations get data models set up correctly from the very start and helps them overcome major hurdles to user adoption, data-driven decision-making and stakeholder engagement.