Choosing The Right Software Solution For Your Team

The best mortgage and real estate professionals are always on the watch for new software solutions that can help their businesses leverage themselves over competitors and gain a competitive advantage Today, it is increasingly difficult to compete in the property investing industry when you do not have the right software and technology solutions for your business. 

Software solutions for a business can be as easy as adding a CRM system to the existing processes, which is great for the storage of contact information of clients, leads, and other relationships. It could also be in integrating an online application for increasing the business’s online exposure and gain leads faster. Or, it could be a custom software solution that integrates all in one from CRM to web application, encompassing all the crucial functionalities required for the business to gain a competitive advantage. 

Integrating software or technology solutions helps companies take their next step in their business. There will be some aspects of the solution you will need to consider when looking for new technology or software. In order to see if a software or technology solution will best fit your processes and business model, it’s best to start by asking these 3 questions: 

What challenges does your team face?

The initial step before selecting a new custom software or technology solution, is to discuss with your team about their process. This will help identify any obstacles or challenges they face on a daily basis. 

A few questions could be :

  1. Is it becoming increasingly difficult to efficiently manage multiple clients and properties on a daily basis?
  2. Is your work based off of Excel spreadsheets and saved emails?
  3. Would automating certain procedures in your workflow allow more time to be spent on working with new clients or focusing your efforts on tasks that require your attention?
  4. Do deals you come across turn out to be deals you cannot fund, or are not eligible?

With the challenges and obstacles now revealed, the search for the right custom software solution to help your team can begin

“What are you looking for in a new custom software?”

When looking at the workflow, examine it and list out areas of inefficiencies and/or tedious tasks. Could any of the tasks you’ve listed be transformed into an efficient process with a new custom software solution? It is crucial to have details of your requirement in mind when on the lookout for a software solution for your business.

Potential objectives for software solutions might be :

  1. Improve on classifying leads, and follow-ups
  2. Transparency of communication with customers and team members (internal and external)
  3. Secure of documentation via digital platform and payment collections 
  4. Automation of workflow
  5. Customizing the process in terms of details, timeline, and milestones
  6. Integration of 3rd party services and vendors
  7. Referral connection and origin database
  8. Branding on a consistent level

Adding software or technology solutions into your everyday process can be a bit intimidating. That is why it’s key to consider some of the following aspects when trying to adopt a new solution.

  • Can my team implement this solution into their daily process without effecting workflow?
  • Can the team utilize this solution and integrate it into their daily process without hindering the workflow?
  • What is the completion time for the new solution?
  • Do you provide training for our team, and integrate the solution into their daily process?
  • Are there continuous training offered?
  • Does the provider of this solution have a good customer service rapport?
  • What additional resources do the solution provider offer?
  • Do the service providers alert/notify when updates and/or software improvements are implemented?
  • Will the solution makes it easier/harder for our clients?
  • Is the solution implemented for helping speed up the process/ or will it be disruptive to the current process?

When adopting a software or technology solutions, some of the other things to take into considerations are :

  1. Pricing/Cost
  2. Privacy/ Protection
  3. Usage difficulty and compatibility 
  4. Customer Testimonials (are there reviews from similar companies to ours)
  5. Additional offerings

Always be open minded, as your team might have already researched potential technology solutions that could be adapted to the business. Encourage your team members to schedule a demonstration of the software to see if it would improve the daily tasks and challenges faced at work. Involving your team in the process is a great way to improve the ease of adoption into the business process. At the end of the day, your team members are the ones that will be using the solution on a daily basis, so it is crucial to have them feel comfortable and interested about the software/technology solution.

The technology solution that is chosen is to assist your team and perform better than the competition. To ensure that the technology solution executes what it is intended to do, a clear understanding of the challenges that your team is having is important. Once the solution has been integrated thoroughly, set new objectives to overcome them utilizing the new solution. 

mDrift Technologies is a leading custom software solution provider that helps all types and sizes of businesses reach their full potential through seamless integration of custom solutions. The solution may entitle asset-based technology solutions which is unique to certain industries, or application built for private industries, mDrift has crafted numerous solutions tailored to business workflows.

Have an idea? Get in touch to book a free business consulting for your business, and get the right software/technology solution to help optimize your business process giving you the competitive advantage in the marketplace. 

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