Technical paper at GPTI: The digital future - the power of networked systems

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Is an all-in-one solution the right one?

Many customers want an all-in-one solution, software that can do everything. An ERP and accounting system that not only offers legally compliant and fully automated accounting with a controlling function, but is also a CRM, DMS / ECM, communication platform, e-mail client, process management and much more.

Colloquially: the egg-laying wool-milk sow.

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However, the reality is usually different. Rarely can a system be everything, especially not equally good at everything. Instead, the power of the digital future lies in modern systems that are networked via interfaces and enable workflows that feel as if they come from a single source. Learn from practical experience in the property management industry how you can use and connect modern, interface-based systems to easily digitize and automate workflows and thus save valuable working time in your day-to-day business. 

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The problem with networking in the market

PropTechs are very popular because they often provide optimal solutions for specific areas or problems - there are more and more solutions on the market to digitize and automate certain tasks.
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At the same time, however, there is the problem that users increasingly have to work on several platforms at the same time in their day-to-day work. This is unattractive if these platforms are not well linked to each other, because, for example, the ERP system is an on-premise software installed locally on the server and is used together with modern browser-based applications. This problem is accompanied by the challenge that most systems require the same master data as a basis and must be regularly updated on all platforms. This quickly raises the question of which system has data sovereignty and whether and how this system can be linked with all the other tools without having to maintain data multiple times at great expense. 

For this reason, many users long for a simple all-in-one solution that can do everything - and do it perfectly. In reality, however, this usually turns out to be wishful thinking, as no system has the expertise to optimally cover all the different areas and use cases. What's more, the innovative power on the market rarely resides in one company, but rather unfolds through the multitude of companies working on smart solutions.
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The basic problem usually lies in the fact that the ERP system, as the leading system, should link the various tools and prop-tech solutions live and integrate them into workflows, but cannot do this because most ERP systems are not cloud-based or do not work with truly open bidirectional interfaces. They tend to be siloed and do not fit into a modern world of ever-changing requirements and connected systems.

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The goal is clear.

It is therefore important to take a holistic view of the working environment and everyday work processes in order to make them modern, digital and simple. In doing so, we should move away from the idea of finding the supposedly all-encompassing complete solution and make better use of the real potential already available on the market. PropTechs already offer efficient, cloud-based solutions for many areas of work that can supplement existing systems. Well-known standard software such as Office 365 from Microsoft, Dropbox or G-Suite from Google can also be easily integrated into workflows and used to automate work processes. 

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Modern networked systems are not only valuable for the automation of work processes, but also for increasing the attractiveness of the industry for junior staff - the next generation of up-and-coming specialists are used to regularly installing new apps and also want to work with modern and simple systems in the workplace. 

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Networked systems - All for one. One for all.

It is crucial that the systems used are cloud-based and can be connected via open interfaces. One system must not be missing: the ERP and accounting system as the central core of the system landscape. Modern system landscapes and workflows can only be established if the ERP system as the core of the system landscape is cloud-based and can communicate with customer portals and document management systems and exchange data in real time thanks to open and bidirectional interfaces.
The introduction and linking does not have to be complicated and reserved for technology-savvy users. PropTech companies are increasingly coordinating their solutions and offering in-depth integration of tools with suitable workflows as standard. A modern interface-based ERP system thus becomes an enabler and marketplace for connecting market participants and enabling automated workflows across platforms.
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The networked and automated work of the future

Modern interface-based solutions enable automated and cross-platform data maintenance. Address changes are entered in the customer portal or ERP system, for example, and are updated in all other systems, including Microsoft Outlook, just a few seconds later. 

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However, networked systems are not limited to the transfer of data, but also enable cross-platform workflows and automation. Imagine you receive a notification from an owner about an insurance claim, e.g. a leak. The plumber can be commissioned directly via the portal's process management and the damage can be reported to the insurance broker, both of whom also work on the system or are connected to it. In the ERP system, the incident is also displayed directly for the relevant property and the owner in the contacts because the two systems are linked. The user can jump directly from the ERP system to the incident via a very simple web link and view all the details there.
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When the invoice for the claim comes in, the ERP system automatically recognizes the object and all important invoice data via the integrated text recognition. Based on the object recognition, all associated processes are displayed so that the employee has the option of linking the invoice to the process. Based on this data, the system can automatically store the document both in the corresponding process and in the DMS system (e.g. Microsoft Sharepoint) in the corresponding invoice folder of the object. The file contains all the metadata required for further processing, including the link to the invoice in the ERP system, so that it is easy to jump from the process system or the DMS system to the booked invoice in the accounting system to view the payment status. In transaction management, the insurance broker sees the invoice and can directly instruct and finalize the claims settlement.

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The future is today

Networked systems offer you numerous opportunities to simplify your day-to-day work and make analog processes a relic of the past. Thanks to the cross-platform communication of the systems, the best solutions for your respective functional area can be used from anywhere and at any time. Thanks to linked processes, you can switch seamlessly between program interfaces, which prevents media disruptions and saves working time. In addition to making everyday tasks easier, you can also attract young employees to your company with modern, future-oriented and, above all, networked solutions.

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So why wait for tomorrow when the future has already begun today.

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Are you interested in other interesting articles?
Then take a look here.

• An exciting interview withi5 Immobilien GmbH about the automation and future of accounting and how Impower is driving this forward. Read the whole interview here.
• Impower was at the 30th Property Managers' Day in Berlin. Read more here about how even more property managers are now smiling again when they think about accounting.
• Information on the partnership between Impower and casavi and the harmonization of the owner portal and accounting can be found here.
• Learn more about the history of Impower's origins and further plans for the future in the Kanzleifunk podcast interview with our founder Thomas Klews.  
• Find out whyImpower isa member of the German PropTech Initiative.
• Impower is a proud partner of VDIV Germany - because digital change works best together - find out more here.
• Find out what real estate management consultant Alexander Haas thinks about Impower here.

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