George street, Sydney

3 reasons why your legacy software and processes have a stranglehold on your Strata business

Over the past three years StrataVault has uncovered that the prevalence of legacy software and processes are extremely prevalent throughout NSW and Victoria Strata businesses, they continue to stifle business growth and hinder the efficient management of strata schemes.

During this time we have measured that the average change of a Manager is every two to three years! The constant churn means huge inefficiencies throughout the Strata sector, with every business, manager and owners corporation using different processes, applications, emails and ways to communicate information. Data is constantly being lost resulting in a Mascot Towers debacle where no one knows what they are buying into, what is going on and the Managers are always on the back foot with historical information and data missing.

 

Reason #1: Visibility.

Strata software and technology are rapidly innovating, and legacy software / processes have not and cannot keep up.

To remain competitive today, successful strata businesses and property developers continuously expand their technology footprint economically but breaking down the silos of information and processes in their offices. Many legacy software requires servers, back up and huge upfront investment.

So how do you see what’s happening in your office and how it relates to the inefficiencies and overspend?

 

Reason #2: Big data.

You have lots of different software tools and people working in your office. But you need to pull it all together.

If you are in the strata business and property development business then you’ve probably got a lot of different applications running – financial software, email, digital filing cabinet, proprietary software, meeting apps, building management apps and so on;  you may also be trying to monitor your staff are on top of everything and that your Owners Corporations are happy with your service. But how can you do this if everything is spread everywhere in different silo’s?

Having one tool to collect, merge and store all your schemes data in an accurate and normalised data pool helps ensure you’re sharing the right information across all people and processes with one streamlined experience.

 

Reason #3: Customer Service.

In an ideal world, you would be on location at every building or community you manage to fix problems before your clients are impacted.

At the same time, you want to automate the routine work that your strata team spends the bulk of their time doing. Automation always starts with the right information and when you only have to upload information once there is no reason not to have ALL of a scheme’s historical information and ALL communication in one place. You gain full-service visibility and understand the ecosystem of every scheme you manage, enabling you to identify and resolve problems immediately in one ecosystem.

This puts you right in the centre of the Strata Community 24/7.

 

Now that’s customer service.

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