{"id":23764,"date":"2020-03-02T05:34:15","date_gmt":"2020-03-02T13:34:15","guid":{"rendered":"https:\/\/www.yardi.com\/blog\/?p=23764"},"modified":"2020-12-25T03:31:17","modified_gmt":"2020-12-25T11:31:17","slug":"talking-technology","status":"publish","type":"post","link":"https:\/\/www.yardi.com\/blog\/talking-technology\/","title":{"rendered":"Talking Technology"},"content":{"rendered":"

Before smart buildings and smart cities can become a reality, the real estate sector must focus on smart processes \u2013 and that means automating property management services still tracked on paper.<\/em><\/p>\n

Technology has the potential to enhance transparency and trust between property owners, tenants and vendors, but many property companies are \u201cstill figuring out how to take a simple service request on a clipboard and track its progress,\u201d says\u00a0Bernie Devine, regional director of Asia Pacific for Yardi.<\/p>\n

Devine has worked at the intersection of property and technology for three decades, and for the last six years with Yardi.<\/p>\n

\u201cWhen I first started in real estate, most people operated from spreadsheets or, worse, paper. Today, I\u2019m still talking to clients who manage their workflows on pieces of paper and others who turn to the Yellow Pages for procurement,\u201d he says.<\/p>\n

This isn\u2019t just inefficient.<\/p>\n

\u201cWithout automated processes we don\u2019t have data. And that\u2019s the bottom line \u2013 because without data we can\u2019t make informed decisions.\u201d<\/p>\n

Yardi\u2019s VendorCafe, for instance, centralises product and service vendor information into a single system of record, reducing paper, speeding up invoicing, automating the onboarding process for vendors and, ultimately, cutting costs.<\/p>\n

\"\"<\/p>\n

\u201cAn automated system means tenants can report a problem in a few clicks, have the request reviewed and resources allocated from a list of pre-qualified vendors,\u201d Devine explains.<\/p>\n

\u201cOur system addresses the entire lifecycle of procurement, from vendor selection and onboarding through to compliance and tracking warrantees. You don\u2019t need an army of procurement people \u2013 you just need a portal that is easy for everyone to use.<\/p>\n

\u201cThe customer knows what\u2019s going on each step of the way, and that gives them comfort, even when there are delays.\u201d<\/p>\n

Vendors gain real-time visibility of purchase orders and work orders and can easily track receivables as well as invoice and payment status. VendorCafe also allows vendors to upload their insurance certifications, for example, which frees up valuable time for other work priorities.<\/p>\n

\u201cThe noise in accounts payable goes away. As the team spends less time answering calls from vendors about when they will get paid, they can focus on work that adds<\/p>\n

\"\"
Bernie Devine, regional director, Yardi<\/figcaption><\/figure>\n

value, like looking at data to identify exceptions.\u201d<\/p>\n

Yardi is leveraging machine learning and artificial intelligence to further automate its systems, and drive \u201cbig data benefits,\u201d Devine adds.<\/p>\n

\u201cWe look at three to four million break\/fix requests a year, and a fully-automated system makes it easier to apply new technology like AI.<\/p>\n

\u201cAn AI tool can assess, classify, filter and assign those requests to the right vendors. Tenants can then see the landlord has acknowledged the receipt of work order and is doing something about it \u2013 all through a simple phone app.<\/p>\n

\u201cLandlords will still need to send someone with a spanner \u2013 but what is changing is the transparency of the process \u2013 and the data being collected.\u201d<\/p>\n

This article is reprinted with permission. Yardi develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. <\/em>Find out more<\/em><\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Before smart buildings and smart cities can become a reality, the real estate sector must focus on smart processes \u2013 and that means automating property management services still tracked on paper. Technology has the potential to enhance transparency and trust between property owners, tenants and vendors, but many property companies are \u201cstill figuring out how […]<\/p>\n","protected":false},"author":442,"featured_media":23765,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_s2mail":"yes","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,6],"tags":[679,54,76,1808,40,2806,2542],"class_list":["post-23764","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-technology","tag-big-data","tag-procurement","tag-technology-2","tag-vendor-management","tag-yardi","tag-yardi-asia","tag-yardi-leadership-insight"],"acf":[],"yoast_head":"\nYardi Blog<\/title>\n<meta name=\"description\" content=\"Before smart buildings and smart cities can become a reality, the real estate sector must focus on smart processes \u2013 and that means automating property\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardi.com\/blog\/talking-technology\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Talking Technology\" \/>\n<meta property=\"og:description\" content=\"Before smart buildings and smart cities can become a reality, the real estate sector must focus on smart processes \u2013 and that means automating property\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardi.com\/blog\/talking-technology\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Blog\" \/>\n<meta property=\"article:published_time\" content=\"2020-03-02T13:34:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-12-25T11:31:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2020\/02\/Bernie-Devine.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"1500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Yardi Blog Staff\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Yardi Blog Staff\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.yardi.com\/blog\/talking-technology\/\",\"url\":\"https:\/\/www.yardi.com\/blog\/talking-technology\/\",\"name\":\"Talking Technology - 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