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Automating processes while keeping your staff

Automating processes while keeping your staff

Technology has become key to running a successful business.

This relates to you whether you’re a farmer in rural Australia or working in a corporate office in Sydney CBD; farmers use their state of the art tractors, while us city folk have our fancy tablets. These technologies help us to be more efficient in whatever it is that we do.

iStock_000017120635SmallWhen considering automating your businesses processes, there is sometimes the possibility that staff will worry that a new technology will make their job redundant. If this is a concern for your staff, well, it shouldn’t be! Let me explain why…

If a staff member is already a valued/hard working employee and they’re the one who implements new and more efficient processes, then no doubt you’ll want to hold onto them. So, let’s relate this theory to automating the way your business collects and receipts tenant rent payments.

If you’re currently manually receipting tenant rent payments, there is a less painful, time saving process that will eliminate the majority of the pain points agents incur from manual allocation. If a staff member makes your office more efficient, then wouldn’t that mean they will now have more time to focus on improving your business even further? This especially relates to implementing a rent payment system that saves your business thousands of dollars annually. A valued feature of using a rent payment system is that it eliminates the majority of the pain points associated with manually receipting tenant rent, making their working day much easier. It is important to note that providing tenants with your trust account details (so they can make direct deposits into it) is not a ‘rent payment system’; instead these payments need to be manually receipted unlike the automatic receipting of a system like iPayRent.

Depending on how proactive agents are, implementing a payment system can sometimes take up to 12 months. Once the payment system has been implemented, the real estate agency will still require an accountant, property manager/s, receptionist etc. so that your office runs in a professional capacity. The only difference will be that all those time consuming/painful ways of collecting and receipting payments will be a thing of the past.

For a rent roll of 400 managements, on average, agents save up to 1,200 hours annually once they’ve implemented a proper rent payment system. To put that into perspective for you – if you have a staff member who works eight hours a day, five days a week, it equates to 30 weeks a year saved in man hours. Now, think about what would you do to improve your business and cash flow with all this extra time on your hands? We often complain that ‘there are not enough hours in the day’. Well now there can be!

Creating more time to get tasks done and eliminating the mundane duties for a better staff experience is exactly what a rent payment system can do for you.

If you would like an in-depth and free mini-overhaul of your rent collection processes, contact us and we’ll see where we can be of assistance to you.

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