Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

rpm logo latest

5 key trends for tech-based growth in 2017

By Matt Goss
07 February 2017 | 1 minute read
5 key trends for tech-based growth in 2017

Streamlining and cost-cutting will likely continue to be the watchwords for property managers in 2017. Taking advantage of modern business intelligence technology and investing in a personalised, efficient solution is essential for property managers to remain competitive this year.

Here are five key trends for property managers to be aware of in 2017:

1. Millennials
Craving mobility, technology and fast results, Millennials now comprise the largest group of the workforce. To keep Millennials engaged in the workplace, businesses must adopt technologies that help match the flexible working conditions they demand.

Advertisement
Advertisement

Millennials are actively seeking a mobile work-life balance which may include working remotely. They expect technology to assist collaboration and productivity, making geographic distance is a non-issue.

The use of mobile expense management systems can save businesses time on administrative processes and also help reimburse employees faster, especially if they work off-site. Employees simply snap a photo of their receipt and submit it to a system that processes the expense claim and automatically authorises reimbursement.

2. Virtual presence
As traditionally expensive digital services are increasingly replaced by online platforms based on a ‘freemium’ model, smaller companies can do much more with much less.

This is especially useful for start-up businesses as a more affordable way to establish and successfully grow a business across different industries.

Investing time to grow a business’s brand through social media can increase the number of potential customers who see their products and services.

It can also help businesses to build relationships with their target audience, connecting products and businesses with customers and influencers, as well as allowing companies to compete with much larger organisations on a more level playing field.

3. E-commerce
Last year, online retail sales in Australia surpassed $20 billion. Consumers’ desire for the ease and convenience of online shopping makes today an ideal time to develop an online presence.

Technology can offer small businesses greater control over brand development, customer engagement and marketing. With 97 per cent of internet users conducting research prior to purchasing products and services, keeping a representative web and mobile experience, as well as investing in the development of quality content, is essential for businesses in order to build relationships with their target audiences.

4. Business intelligence (BI)
Property managers will increasingly take advantage of big data solutions, traditionally used by larger companies, in 2017. BI software collects fragmented sets of data and converts them to tangible information, which lets businesses make informed decisions.

The use of automated expense management software enables businesses to see the status of employee expenses in real time. As organisations amass greater amounts of data, business owners are able to implement data-driven solutions in an effort to improve business efficiencies.

5. Greater visibility over company spend
When a large amount of money is spent each year on business travel and related expenses, it’s important to have detailed reports of where this money was spent. Using mobile expense systems enables businesses to stay on top of cash flow, plan future spending as well as having a real-time, accurate view of company spend.

It’s no longer too difficult for small businesses to keep up with large enterprises. Technology is enabling property managers to streamline operations, provide employees with the tools they need to make their jobs easier and have complete visibility over company spend.

Property managers don’t have to pay a fortune to implement these tools. I encourage business owners to do their research and find the right technology for their company.

5 key trends for tech-based growth in 2017
laptop mail
lawyersweekly logo

ABOUT THE AUTHOR


Matt Goss

Matt Goss is the Australian and New Zealand managing director for Concur, an international travel management business.

Listen to other installment of the Real Estate Business Podcast
Rankings
rankings
JUST RELEASED
May 09, 2022

REB Top 50 Women in Real Estate 2022

REB is thrilled to present the Top 50 Women in Real Estate 2022 ranking, which sets t ... LEARN MORE

rankings
JUST RELEASED
May 04, 2022

REB Top 100 Agents 2022

Now in its second decade, the REB Top 100 Agents 2022 rankings are the most revered s ... LEARN MORE

rankings
JUST RELEASED
May 02, 2022

REB Top 50 Agents NSW 2022

Even a pandemic has not put the brakes on the unstoppable property market in NSW, whi ... LEARN MORE

rankings
JUST RELEASED
April 27, 2022

REB Top 50 Agents VIC 2022

The COVID-19 crisis has not deterred the property market in Victoria, which has been ... LEARN MORE

rankings
JUST RELEASED
April 25, 2022

REB Top 50 Agents QLD 2022

As the property market continues to roar in Brisbane and Queensland, the REB Top 50 A ... LEARN MORE

Coming up

rankings rankings
Do you have an industry update?

top suburbs

12 month growth
Mirador
103.33%
Bawley Point
98.13%
Walla Walla
90.7%
Byron Bay
86.67%
Kiama Heights
85.93%
Greta
84.14%
Nulkaba
81%
South Hobart
78.78%
Diddillibah
76.25%
Lennox Head
73.98%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.