Large property barons are sitting on a wealth of information that could easily be converted into profit. They have more opportunities than ever before, more information than ever before, and the tools to make sense of this data that is ﬂowing from various sources.
They manage complex infrastructure that generates a huge amount of operational data across a range of source systems. The challenge is to transform this raw operational data into real-time actionable intelligence.
For example, the automation tool monitors pricing and tenant usage for all utilities including water, electricity, refuse removal, rates and taxes, sewage and vacant land. It can also manage utility billing and statements, automatically validating these invoices, creating journal entries in the accounting system and alerting the business of unusual billing.
It is critical that accurate meter readings are done before billing the tenant for consumption. Unfortunately, this function is often handled by people and human error could lead to incorrect billing and that often results in under or overcharging the tenant.
Automation tools are already helping many property owners realise massive ROI. Digital transformation has gained momentum, AI is changing faster than ever and these new models are growing in accuracy and efficiency.
Landlords should be spending time focusing on their core business, not dealing with utilities and struggling to resolve billing and usage discrepancies.