Deciding to invest in property management software is a big spending decision. Organizations need to ensure that they will see a significant return on investment. When evaluating a software platform, executives should heavily consider the system’s effect on internal communication, because the state of team connectivity and collaboration can influence performance in every other area of the business for better or for worse. Mismanagement of communication can result in a loss of up to $420,000 annually for small businesses and up to $62 million annually for large enterprises. The best property management software systems provide users with various clear, accessible, and integrated lines of communication.
Here are 5 benefits to investing in an integrated internal communication platform:
Connectivity
An online communication platform that creates channels for targeted work-related communication can often be more effective than email because it is live and less formal. Live chats within teams or cross-departmental communication through an instant messaging-like functionality allow users to send and view messages without delays minimizing the possibility of correspondence being lost in overwhelmed inboxes crowded with external communication from customers, vendors, and other unrelated content.
Productivity
When staff can’t access information in a timely manner or receive prompt answers to questions that would enable them to move on to the next step of a project, productivity suffers and turnaround times are extended which ultimately results in dissatisfied customers.
When employees are effectively connected, productivity rises an average of 20%-25%. Cloud based software typically provides users with on-demand access to real time information, enabling independent access to information so that even when others are unavailable, users can efficiently view the information they need on-demand.
Engagement
Inadequate communication, whether it’s unclear instructions or unanswered questions, can hurt employee morale and decrease engagement. When people are unable to communicate at work to get answers to questions, schedules, or to plan effectively, they often become less satisfied with their work and take less initiative in their role.
Communication software platforms often have mobile-ready elements that extend communication past the confines of the office. Property managers, who are often travelling or liaising between moving parts, can benefit from mobile access to project statuses, updated information, and real time messaging to coworkers. Companies with effective communication in place are 50% less likely to experience employee turnover at the rate of companies without a thorough communication platform.
ROI
Effective communication results in high-level coordination across teams, alignment throughout the organization, quality customer service, and productive operations. As property management companies look to implement software to bolster internal communication, the cost of a system can be a deterrent. But an organization-wide communication platform can keep employees engaged and effective in their role, increasing profitability by 21% more than competitors with less engaged teams.
Communication is a driving force that connects every department and every element of success. Without strong and reliable communication, collaboration suffers, employees become unengaged, and customers become dissatisfied with service. Communication facilitates organization, and with a platform that sorts out the details of it all, executing becomes significantly easier for property management teams.
