In the real estate industry, proptech innovators come quickly and quickly to help landlords and managers of retail properties on their path to digital transformation. Richard Hardy, Regional Manager Australia at Retransform, explains how AI technology is now a valuable solution. It paves the way for companies to stay ahead of the curve and adapt to inevitable changes.
What’s the right way to move forward with AI technology?
Sam Harris, who led a TED talk on AI and the control of AI, stated, “We have two doors ahead of us – one is not making progress on AI machines and the other door is improving our intellect on AI machines. Can we control the AI or does it control us? “
Harris says while we don’t want to lose the feeling of human control, improving our AI knowledge can only mean learning more about the nuances and further preventing and avoiding the unexpected. We have the will and the knowledge to use AI technology for our benefit. There’s no such thing as “one size fits all” for those looking for AI to reduce operational costs and processes, but many conclude that cloud-based solutions that coincide with remote infrastructure make it easy for you to run your problems can help business from almost anywhere.
“Artificial intelligence and data analysis can predict outcomes and detect anomalies in data sets that people might otherwise miss.” Bhavin Shah, VP Business Development APAC, Retransform.
Protect your data in the cloud with insightful analytics
With cloud-based self-service solutions, end users can access insights from their data or real estate portfolio at any time and from any location. Understanding your existing data is not only helpful in finding new businesses, but also in reducing operational costs and protecting existing businesses. Since your retail portfolio is managed and accessed from multiple sources, it can seem overwhelming to leak. 4see Analytics is a state-of-the-art cloud-based platform that seamlessly aggregates your existing data from disparate systems to deliver and predict accurate and actionable insights, as well as benchmarks for external data.
4see also includes machine learning and AI technology and analyzes your historical data to identify correlations and spot anomalies. This enables managers and investors to take preventive measures in good time and frequently to protect your company and significantly improve the performance of your assets.
AI-powered technology solutions
Once you’ve integrated your retail portfolio into one cohesive platform, it’s time to get to work. To fill in the gaps in completing these tasks while avoiding the feeling of monotony, we can implement Robotic Process Automation (RPA), another resource for AI and machine learning. Retransforms Rebot is a Robotic Process Automation as a Service (RPaaS) that frees your team from repetitive, time-consuming tasks so they can focus on more important business processes and strategies. With its intuitive application and algorithms, this RPA solution can help you automate your workflows step by step. Example bots are accounts payable, reporting, and late billing.
“Repeated tasks are planned and structured with the following rules. A rebot could be planned, structured and given rules. “Kaushlesh Chandel, Head of Innovation, Retransform.
Rebot can save you more than 25 hours per month on billing tasks
Accurate and efficient technology solutions from the big players
Real estate enterprise systems such as Yardi, MRI, Argus Enterprise, Manhattan, JD Edwards and SAP Real Estate Management continuously support real estate, wealth and finance managers in these unprecedented times. Accurate data and efficient workflows will only work on your behalf when they are built into the system you are effectively using.
We are experts in integrating these solutions including custom report design for changing needs, implementation / configuration of new modules, data migration, ongoing support / maintenance and training.
“We’ve spent two decades mastering the integration and implementation of real estate data into your preferred real estate management system.” PV Ranjit, Technology Director, Retransform.
Management services that serve as an extension of your business
AI was now founded to improve businesses in the digital space. Let’s not forget the basics, however, and let’s ignore the practices that led us to this point before AI became an option.
Retransform’s management services team can become an extension of your retail business in the interconnected areas of finance, accounting, lease administration, and lease abstraction.
The offer includes, among other things:
- finance and accounting:: AP / AR management, reconciliations, general ledger tasks, financial reporting
- Lease management:: Commercial billing, spending reconciliation, percentage rental management, tracking rental escalation, rental revisions, late billing, management of critical data, management of insurance certificates (COI), tenant correspondence by email and post
- Lease abstraction:: Retransform abstracts more than 60,000 rental contracts every year according to six Sigma processes in order to guarantee the highest level of accuracy. These abstracts can be created using standard or custom templates.
Retransform has abstracted more than 350,000 rental contracts with an accuracy of 99.9%
Retransform is a global technology provider and partner dedicated to the real estate industry. Since 1998, the company has expanded its expertise to offer comprehensive solutions to retail, commercial, residential and corporate customers.
As experts in the development and implementation of the latest technology, Retransform offers bespoke solutions tailored to your retail needs. Through its platforms and services, the company creates efficiency and improves productivity, giving us humans more time to do what they do best.
The Retransform team, which recently operated in Australia, looks forward to supporting companies in three key service areas – Technology Solutions, Business Management Services and Insightful Analytics.