A lot of businesses use spreadsheets for a variety of needs. They’re a tried and tested way of storing and organising information, and when used with clever formulas and calculations, they are handy assets that add value to an organisation.
But even with the ability to leverage off formulas, spreadsheets still require a lot of manual legwork in having to physically update data to keep information up to date.
For property managers, let’s take maintenance tasks as an example, there are a lot of daily notes to update regarding tasks for particular properties, and if they’re using spreadsheets as their sole property management tool, all of the property notes and information refreshing has to be done manually.
So when a bursted pipe gets fixed or a leaky air-conditioner gets replaced, the property manager has to jump into the spreadsheet, search for the property, make the changes and save the spreadsheet. A lot of wasted time all because of highly inefficient processes.
Now with the rise of cloud-based software, a lot of tasks that are inherently manual with spreadsheets, can be streamlined and be made to function automatically.
We have compiled a list of four things that spreadsheets simply can’t do.
They scale poorly
This is arguably one of the biggest downsides to using spreadsheets as your sole property management tool.
Scalability, or the ability to grow your portfolio and therefore your business, becomes extremely difficult if you use spreadsheets. As growth phases hit a business, data naturally gets distributed further across the business. For portfolios made up of over 5 properties, it’s highly recommended to invest in property software.
They can’t integrate with your other business tools
The ability to integrate with other business apps is another shortfall in spreadsheets – they simply don’t talk to key apps, such as calendars or email inbox applications.
Consolidation should be top of mind for all property managers. It’s an unattainable goal if spreadsheets form the basis of your property management – only software platforms offer this functionality.
They can’t be accessed remotely
Google has introduced a cloud-based version of Excel but it’s extremely limited, and it’s not fit for the use of professional, large scale property management due to the calculation and formula limitations.
So with Excel, as many traditional property management companies can attest, remote access is not an option. Key information that needs to be accessed off-site – say, for example, if an employee is out of the office on holidays or sick – can’t be. It’s that simple.
They can’t update themselves
As touched on earlier, as maintenance and other key tasks get resolved, they need to be reflected in the spreadsheet to make sure everything is up to date. This doesn’t happen automatically in spreadsheets. The physical act of updating spreadsheets is an inefficient process and chews up valuable time that can be spent on revenue driving activities.
Cloud-based property management software does this automatically and raises a business’s scalability and growth ceiling. Ultimately, that’s a driving force to invest in software that’s built to evolve the process of doing better business.
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