Thomas Klews, Managing Director of Impower, distinguishes between three levels of AI in the field of automation. The first stage involves simple machine learning algorithms that are able to recognize basic patterns, for example for posting bank transactions.
The second stage uses deep learning models, which can solve complex tasks with unstructured data. "Most of us already encounter such models in our everyday lives: online platforms such as Spotify or Instagram use these models to suggest personalized content based on user behaviour. In the field of building management, AI algorithms can be used to predict the condition of heating, ventilation and air conditioning systems and to predict maintenance measures," explains Klews.
OpenAI, known for ChatGPT, has heralded the third stage with voice-based models: similar to humans, ChatGPT is able to understand intentions, extract information or understand and answer questions. This ability opens up new application possibilities - property managers in particular are hoping that it will help them with the flood of tasks.
Property management companies have to cope with huge amounts of work every day. Many are overwhelmed because they cannot find enough staff. High staffing levels are a major reason for the low margins in the sector. This is where AI and intelligent automation come into play: they can significantly reduce staffing requirements because work processes are completed much faster or are eliminated altogether. For many property management companies, this can be a real lifeline in the face of the shortage of skilled workers.
Tangible support for processing mail
Intelligent automation already supports the sorting of mail and emails. Whether invoices, damage reports or inspection reports: ERPs such as Impower have a document inbox with intelligent text recognition that automatically records which object a letter belongs to, displays suitable processes and finally automatically saves the document in the DMS, for example Sharepoint, including all recorded metadata in the correct folder. This saves a lot of working time. Letters that end up in the mailbox in paper form can be scanned directly into the system at the touch of a button, and emails can simply be forwarded.
Automated accounting - reduce staff requirements by up to 80 percent
Text recognition also enables lightning-fast accounting, for which AI is particularly suitable. As soon as an invoice from a tradesman arrives, for example, Impower recognizes the relevant object and all invoice data. The booking mask is filled in automatically and the payment is created automatically. Associated transactions are also displayed in the booking screen, which makes it easier to check the content of invoices. The accounting system can reduce the required working time by up to 80 percent. Or to put it another way: with Impower, one employee can manage up to four times more units than with legacy systems without intelligent automation.
With Impower, one employee can manage up to four times more units than with legacy systems without intelligent automation
Intelligent automation across systems - with modern interfaces
An important prerequisite for the use of AI is intelligent networking with other systems such as casavi, etg24, facilioo or Microsoft Office. Data is synchronized in real time and in both directions via the modern and open interfaces. "Impower thus provides the valuable data for the AI of the other programs. And Impower's customers benefit from this AI at the same time". The three portal providers already offer AI tools based on ChatGPT that summarize and prioritize incoming owner or tenant inquiries and make suggestions for responding. Systems such as managble AI, which summarize voice messages, can also be easily integrated into a system landscape. The link with Microsoft in particular will be crucial for the use of AI in the future - no other company is investing more in AI than Microsoft.
AI is already taking over many work steps today to reduce the administrative burden. However, this requires a digitalized way of working and clever, interconnected systems. Impower provides the right centerpiece for this and is already laying the foundation for the next level of AI.
"Property management companies that don't work digitally and consistently automate will no longer be competitive in the future," says Thomas Klews from the Munich-based software company. This is because modern systems do the work quickly and conscientiously - and with far fewer staff. A trend that has only just begun and that no property manager should miss out on.
Not much is needed for a modern AI-supported system landscape - because with a lean ERP such as Impower, Microsoft 365 and a process management portal, property management is perfectly positioned. If you switch to a cloud system, you no longer need servers or IT consultants for maintenance and support. A notebook or computer and an internet connection are all you need: Employees can work in a modern way and from anywhere. This is a relief and a saving that should not be underestimated.
Digitization grants such as the digital bonus can be applied for from the federal government and in some states such as Bavaria for the conversion to a modern system landscape; part of the running costs can be covered in the first year. We would be happy to send you a personalized offer for Impower.
If you switch to a cloud system, you no longer need servers or IT consultants for maintenance and support
Impower supports property managers with the introduction of the new program. The connection to existing portals is very simple thanks to the open interfaces. "We take our customers by the hand during the system migration. 80 to 90 percent of the master data can be imported from the existing portals at the touch of a button. The administrator essentially only has to enter the accounting data," says Thomas Klews.
Employees are a decisive factor in the introduction of modern system landscapes: They need to be involved right from the start and quickly benefit from moments of success. "It makes a huge difference to introduce a modern and intuitive system like Impower because it requires very little training and employees can experience relief in their day-to-day work very quickly," says Klews.
Read more about the requirements for using AI in everyday property management.
