Those who are in the business of managing properties and facilities have a great deal of responsibilities. Chief among those responsibilities is the task of inspections. Inspections are a critical component for a property to successfully operate. Your business is at risk if inspections are not conducted or not conducted in a timely fashion. There are stiff penalties for organizations that are found to be non-compliant which may result in huge financial losses for owners and disciplinary actions by federal, state, and/or local governments. Falling out of compliance can also lead to lawsuits, fines/citations, injury to people on your property, a loss of license, and other extreme penalties such as corporate dissolution. Having an inspections process in place helps to mitigate these risks which in turn helps the organization to improve not only its performance but its overall profitability as well.
However, the inspections process as it stands today is one that is antiquated at best and fraught with inefficiencies at worst. Although many advances have been made in the field of real estate focused technology, the inspections process largely remains paper-based and highly manual.
It is a labor-intensive processing environment that is prone to human error, repetitive, and extremely time-consuming. In essence, it is an inefficient usage of your employee resources.
In addition to these issues, reports cannot be automatically generated when using this outdated process. Proper reporting is crucial for the effective operations of the property. Managers rely on the information contained in the inspections report for a myriad of reasons, especially when it comes to issues of compliance/compliance history. The inspections report identifies deficiencies that would require immediate action including matters that are structural in nature or hazardous to those on the property. In the absence of accurate, verifiable, and easily accessible reports, executives have a difficult time ensuring that issues are corrected and all systems are working in compliance with regulatory standards.
Nonetheless, the question that remains is how do property and facilities managers rectify these problems? The answer clearly is automation. By automating inspections, an organization can successfully streamline the process using best in class, cloud-based software automation tools. Implementing such tools will prove beneficial as your organization becomes more competitive in the marketplace and you eliminate risk in your business sooner.
There are many advantages to be gained by automating your inspection process. The most important advantage is keeping your organization in compliance by ensuring inspections are conducted properly and in a timely fashion. Ideally, any automated inspections software solution you would choose would be technology that is cloud-based and mobile – easily accessible by anyone on your team no matter if they are working in the field conducting site visits using a tablet or cell phone, at home on a desktop computer, or in the office. And, the solution should allow for collaboration amongst your team members, both internally and externally. For example, the inspections reports that the system will automatically generate should be available for all levels of the executive team to see so that they may provide actionable feedback and make clear, data-driven business decisions.
Optimally, automated inspections software solutions are also customizable, code-free, and easy-to-use. Software features would include such necessities as drag and drop technology for form builders, electronic signatures, and reporting tools that provide real-time analytics. The connectivity between your team members would be improved by implementing a software solution that stores and archives all of the media needed to create an inspections report into a single, easy-to-access repository. This media could be instantly uploaded into an image library, attached to documents such as work orders, and shared with other team members who require the file.
Another important benefit of an automated inspections process is the fact that your operations will run in a more cost-effective manner, thereby improving your overall ROI. Some firms employ industry experts that can help you determine how much your organization truly spends on its current processes. Common Areas is one such firm. The Common Areas ROI calculator provides an operational cost analysis and then compiles a report outlining how much time and money can be saved across all of your locations by implementing the Common Areas software solution.
Putting a plan of action in place to partner with a trusted advisor such as Common Areas is the most ideal way to begin automating your inspections process. The industry experts at Common Areas will sit down with your executive team to discuss your current operations, gain a better understanding of the pain points you are experiencing, and the business goals and objectives your organization seeks to achieve. The ROI calculator is used to guide you through the process of documenting and understanding your current processes and technologies so that you may strategically improve your operation’s efficiency and effectiveness. The eye-opening Common Cents report will determine the overall cost savings to be realized.
The Common Areas team will prioritize which tasks need to be automated for your inspections process. They will present a tailored plan that defines exactly how they can best align with your organization in support of your expectations and requirements. The implementation and training of your team on the new system are the final steps in the overall process.
Click here to schedule an in-depth Discovery Call with experts to find out how the Common Areas’ collaborative software solution can help you automate your inspections process, enabling you to do more, faster, and improve your net operating income for 2019 and beyond.