Why now is the right time to harness your clients’ data to power growth
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Grace Thomson, Partnerships Manager, Re-Leased Grace partners with progressive accounting firms who want to leverage modern technology to scale their practices and transform their client relationships.
The COVID-19 crisis has stressed the importance of using integrated property management software to gain insight into how the market and your clients’ portfolios are performing so you can become a valued advisor, not just statutory compliance.
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Steven Kühn, Head of Software, Azets
hy now is the time to grow
“I’m going to say something controversial, I think any time of recession can be a time of growth,” said Steven Kuhn, Head of Software at Azets, during the latest ReLeased Webinar Turning data into your most valuable asset. The webinar was hosted by Re-Leased, a property management software platform designed for commercial and mixed portfolios. “When things are too easy for too long, we become complacent and it effectively causes wastage in any form of business,” says Steven.
Tom Wallace, CEO and Founder, Re-Leased
As many countries head into a second or third lockdown and the World Bank forecasts a 5.2 percent contraction in global GDP in 2020, now is a great time to reflect on Steven’s message, that we need to become more efficient. Operating environments are fundamentally changing, making financial clarity and control more important than ever. Accountants have a valuable opportunity to help clients operate efficiently and set them up for success by ensuring they have access to the data they need. Why data is your most valuable asset “What gets measured, gets
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managed,” is Peter Drucker’s famous quote, and in the current environment, measuring the right things is more important than ever. Businesses need to do all they can to manage the widespread uncertainty and volatility from the COVID-19 crisis. “Relying on gut-feel and instinct doesn’t really work too well if you are in a situation that hasn’t happened before,” says Tom Wallace, CEO and Founder of ReLeased. Data has the power to better inform your clients’ key decisions, and give you the insights needed to establish trends. The only way you can see a short or long-term trend is by looking at data daily, weekly, and monthly. “You need to know the rhythm of your business,” says Steven. “When there is any variance in data or trends, you need to know what caused that spike. If you know what caused that spike it is very easy to know whether it is short or long term.” You can establish the importance of data by asking your property clients the following: • Do you understand how your portfolio is performing at all
times? • How do you compare to the market? • Can you easily share results and insights with those who matter most? If your clients are not sure of the answers to your questions, you have identified a huge opportunity for adding value and solidifying your position as a key business advisor. To help answer some of these questions, Re-Leased recently launched CREDIA, a free to access intelligence and analytics platform designed to provide greater transparency and insight into the health of the commercial real estate market. The CREDIA Index shares statistics on occupier performance, leasing trends, and national averages to benchmark against the wider market and asset classes. How to use data to grow There is a lot of work to be done between having access to data and being able to use data to make decisions. This boils down to two critical steps: 1. What do your clients want to achieve: This allows you to determine required outputs by focusing on measures that will be
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