With digital advancements, real estate firms are now partnering with technology vendors to improve decision-making and ensure lower operating costs. As a result, management software in recent times has gained popularity. Thus becoming an integral part of day-to-day operations for the investors. Besides, it also helps them deliver well-adjusted returns. But the question is given the number of available choices, which software is the best for establishing workflow, sourcing deals, and other things. Having a clear idea about it will ensure that one makes use of the right proper management software. Given here are the top 7 options that one can consider for better results.
Importance of Management software
The commercial real estate industry is moving rapidly. The deal management software analyzes real-time and historical data that helps the investors find strategic insights. Besides, it assures the investors make faster and right decisions to benefit from their venture. No doubt, investors can make decisions based on the available data that can ensure better results. But finding the right software is a lot difficult. Suitable software for investors will create clarity internally. Besides, it will also offer other benefits that will take away the administrative headache.
The software can offer great benefits like systemizing the investment process and adding the agile investors’ digital structure. Establish a clear workflow based on the properties and procedures, deliverables, collaborating and communicating about things, etc. As things get centralized, the investors have a lot of conveniences, and they can work faster for reviewing and carrying out the deal safely.
Best software for real estate investors
1. Dealpath
As of now, it is the most popular deal management tool that is meant specifically for managing and handling CRE investments. The platform offers the best software for investors to track deals and information in real-time. Dealpath is a way to come up with a new modernized means for monitoring commercial real estate investment. It helps track data from the pipeline to portfolio management. Besides, it also encourages protective decisions.
The platform provides in-depth knowledge of the data points, which can be used by the investors and can offer them effective results. The Investors using the application can track uniform data as they move from acquisition to the next stage. The focus on the life cycle empowers the investors to work swiftly and reduce the load.
There are great benefits one can expect to get with this platform. It is used by 5 of the top commercial real estate investment firms.
2. Deal cloud
It is a robust platform but not the best as it is built specifically for the private equity and the financial service industry. Deal cloud is known for providing solutions for hedge funds, investment banking, and other markets. The products they provide suffer from a lack of focus on real estate features and intuitive workflow that can show value. It functions primarily as a CRM with some deal management. The platform offers baseline reporting features. However, the users need to be careful in building more targeted and specific reports. No doubt it is considered a great choice in the market. But without organizational alignment and the right data in the platform, the investors can’t expect real-time visibility.
3. Altrio
Although a popular management platform, it lacks features and integrations that could be a valuable asset for industries. It is still operating to convey and define its place as the broader software and network. The platform lacks the stability and permanence the others in the space have already achieved. It is not uncommon for a new company to release a product and then make some developmental changes. For years, firms looking for solutions can rely on this deal management platform will guarantee its longevity.
4. Coyote
It is a strong management tool that major only targets international acquisitions and management. The focus can add value for the firms looking for properties overseas. However, this feature comes with a lot of nuisance for US-based properties or domestic. It can be an excellent software for international investors. But there are certain complications and shortcomings. It is driving as a successful platform in the global market but still lacks file management capabilities and is not up to the mark in terms of reporting. The platform lacks in terms of simple visibility for a high-level matrix. This is an essential requirement for deal management space. In contrast, it produces turnkey and highly detailed reports based on the historical analysis of pipeline deals in seconds.
5. Argus Acquire
This real estate software covers multiple investment functions and verticals. The platform is meant specifically for the acquisition process. A great benefit of the model is that one can easily import products into Acquire. However, the functionality of the application is available at the expense of significant management features. A great thing is the platform is majorly for acquisition. It is not exactly equipped to support the firms in lending, disposition, and developmental delays. The benefits of choosing a deal management platform are more than just the cost savings. It is a certain workflow for all the verticals which guarantees the best. Also, it provides the investors unhindered access to the data from other investment life cycles, which helps eliminate data entry.
The platform can create reports, but there is no visual detail that can be found with the other software options. Suppose you want detailed management software for conveying information for leadership in a compelling manner. In that case, please choose the deal path, which is a robust approach for illustrating data-driven trends.
6. AtlasX
It is yet another deal management tool in the market that offers standard acquisition-related capabilities. However, as it is still new, it might not be the best option one can consider. In addition, the platform hasn’t received recognizable endorsements or even promoted industrial relations, especially in the market where preserving data with the same software.
It comes with a great customization option but lacks the most robust capability to enable a fully standardized process for investment managers. AtlasX lacks in many manners, but there are great benefits to it that protect the firm’s data with SSL encryption. The limitation of the application forces investment managers to work with multiple tools rather than centralize the workflow.
Conclusion
The advancement has for sure been great. There are now multiple platforms and software that one can consider using in everyday operations and ease out the process. Identifying the correct option and making use of it the right way is a lot essential. Being a new investor in the industry, one needs to be extra careful. If you need any support or help, then you can contact Private Capital Investors. The company is dedicated to helping provide professionals with the help they need to understand different software that will work the best for their requirements. The professionals there will not only guide but will also ease the process. So if you need any help with the management of real estate assets and properties, then make sure to contact the company today as specific results will be satisfactory.
