property management operations into the future world of digitally-driven multihousing business automation
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The transition is here and it is now time to address it.
The paper Drain
Multihousing companies looking to reduce costs need look no further than the massive amounts of paper documents pile on desks, filed in cabinets and/or stored in a maze of incongruent legacy computer applications to see that paper is a substantial drain ona multihousing company's net operating income.
Evidence from various sources suggest that 30 to 40 percent of all staff time is consumed in handling the paper side of the business and 50 percent of that time is spent looking for infomration in documents which turn out to be successful only 50 percent of the time.
In a paper-based world, it costs roughly $15 to file a document, $8 to physically store a document, $44 to retrieve a document from a repository, and as much as $40 to ship a document, when copies are made and shipped using a package shipping services.
The average document used in the multihousing business process workflow is printed or copied seven times within the organization. Locating a lost document can exceed $100 in cost and reconstructing or recreating a lost document costs double that. Moreover, paper document storage takes up so much space that some apartment communities use empty garages or rental units to store boxes of files-at a substantial loss of income and increased risk of loss or theft.
These anectdotal statistics have led SyndicIT to study dimensions of competitiveness of digital operations in other industries and have found that there are those that have stated that profit growth leaders have 49 percent of their business processes digitized versus the average multihousing company which is sub-30 percent. If you want to be a profit leader, one of the key indications is your capacity to move to a digitized business process with centralized, digital information and automated workflow processes across your entire portfolio.
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DocumenIT is an industrial-grade technology for content management that has been adapted to multihousing by defining user filing policies, filing cabinet structures and work process extensions specific to the industry. DocumenIT serves as the enterprise-wide platofrm that serves as the repository for documents; a workflow center that is available any time to whoever has the appropriate access for approvals and controls. DocumenIT is programmed to work for all level's of a company's operations, designed to be flexible and responsive to the needs of users, from exectuvites to leasing agents to legal and accounting staff, and to meet the needs of properties of any size, even those without IT staff and, in leass than one day of training and becoming familiar, a user can be up and running without any changes to existing infrastructure and workflow processes. Out of the box, DocumenIT can mirror your company's existing filing, sharing, and workflow proceess, doing it all at the speed of light.