Rockend research points towards an uptick of almost twice as many agencies turning to cloud-based technology instead of server software. The data showed that 62 percent of property management agencies use cloud-based technology in an increasingly fragmented market.
According to Rockend research, 62 percent of Australian property management businesses are now using cloud-based software to manage their business, compared to 42 percent a year ago.
The figure illustrates the rapid adoption of cloud technologies within the real estate industry.
Traditionally, the property management industry has lagged behind other industries such as financial services, insurance, or accounting in terms of its adoption of cloud-based technologies.
Yet, at its core, it is an industry that is process and paper heavy with a highly mobile workforce.
According to Macquarie Bank, automation in real estate can deliver up to 25 percent in efficiencies.
Meanwhile, Rockend research has quantified average savings through cloud adoption to be $249,000 a year and an increase in 184 properties under management based on 22 percent efficiency gains.
Agencies can take a quick 5-minute assessment quiz assess the quantifiable gains from cloud technology for their specific business by clicking here.
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