Promoted by Console
Software brand Console has been busy: it ranked 21st in G2’s ANZ best 25 software list, vowed to be the #1 commercial property software, and rocked the boat (again).
Not content to just update and improve features, innovative software brand Console Cloud has been breaking the rules of property management software this summer with a drop of radically different features that has left agencies shook.
Here are 4 ways Console Cloud rocked the boat this summer.
1. It launched an in-app messaging service for Console Cloud users
Described as, ‘Like Slack, but for property managers’, Cloud Chat is an in-app messaging service that lets team members talk to each other while they are in Console Cloud.
Cloud users can see who else is online, tag each other in posts, link each other to properties and other pages inside Console Cloud, and most importantly of all: it lets you use emojis. 😎 😎 😎
It’s the first feature of its kind in the Australian real estate software space, and has the potential to really change how teams collaborate at work—especially if everyone’s not in the same room.
2. It changed the game of business intelligence in real estate, probably forever
Chief Product Officer Matt McGown and Senior Product Manager Tusitha “TJ” Jayatunge gave a hundreds-strong webinar audience a first look at Insights Pro at the Console Cloud Summer Release webinar last week. The webinar is a quarterly feature release showcase to its growing customer base across Australia and New Zealand.
The first three reports boasted by Insights Pro include a rental rates, arrears benchmarking and a work v income report. Here’s what they do.
Rental rates report basically tells you whether you’re charging enough rent and commission on each property in your portfolio. It assesses the rent prices and commissions of your properties and compares them against lookalike properties in your area, and ranks your rent roll from worst performing to best.
Like all reports in Insights Pro, users can interact with these reports, drill down and re-cut their data so they can get to the bottom of why their performance is where it is.
Arrears benchmarking lets you compare how well your agency or branch is managing arrears as ranked against your competitors and peers both in a portfolio, office, state and national view. It gives agencies the chance to learn more about their arrears performance than has ever been possible before.
If you’re managing multiple offices, you can also see which Console Cloud offices have turned on their arrears automation, and track how they perform against those that don’t. No prizes for guessing who usually performs (significantly) better.
Work v Income is perhaps the most radical and innovative of Console Cloud’s new reporting features, using an algorithm to calculate how much time and effort goes into managing each property an agency manages, and stacking that up against the income that property generates.
Work v Income then grades their portfolio from those that are uneconomic or low income to those that are most profitable for their agency to manage.
This kind of business intelligence has until now either been arrived at by intense manual labour, or gut feel. Principals can now meaningfully and accurately prioritise profitable properties, and pursue options to either remove under-performers from their rent roll, or find ways to recoup revenue, with all of the financial facts to hand.
3. It vowed to become the #1 commercial property management software choice in Australia and New Zealand
Until late 2020, Console Cloud specialised in residential property management and trust accounting, with some commercial functionality. That’s tipped to change.
At the Console Cloud Summer Release webinar, Matt McGown revealed Console’s plan to double down on advanced commercial property management, and become the number one software of choice for commercial property managers. He also explained Console Cloud’s intention to integrate with holiday management software providers in the next few months.
Console Cloud’s advanced commercial property management features include bringing workflows into commercial managements, as well as adding more sophisticated billing, reporting and trust accounting features. It is set to be released in March.
That means if your team manages both residential and commercial properties, Console Cloud might be an ideal product fit for you.
4. It took out a spot in software review platform G2’s top 24 best software companies list
Console came in at #21 in G2’s top 25 best software lists for this quarter, following its rise to high performer status in late 2020. G2’s best-of list scores software and software companies based on criteria of market presence and customer satisfaction, including verified reviews accumulated on and off-site.
That makes Console the first Australian property management software company to make the list. It shares a spot on the list with the likes of Australian software giants Atlassian (ranked #1), Canva (#2), and Xero (#4).
What’s next for Console
With a packed quarterly roadmap ahead, and an increasing collaboration and feedback loop between Console Cloud and its users, you can expect more bombshells to drop soon (... in April, if you’re wondering).