Are you getting the most out of your real estate reporting/analytics software?
The right reporting and analytics software can remove bottlenecks, maximize brokerage and agent performance, and help you make smart business decisions. However, you’ll only see these benefits if you know how to get the most out of your software.
In this post, we’ll cover everything you need to know to optimize your reporting and analytics software. Let’s take a look at the first way to get the most out of your reporting and analytics solution – make it part of a complete platform.
The first way to get the full potential of your reporting and analytics software is by choosing one that’s part of a complete back office platform.
Your reporting and analytics software needs data from agent management, transaction management, accounting, and more. If your reporting/analytics isn’t part of a complete back office platform, your team has to manually find and enter data to generate reports. This manual data entry wastes your team’s time and is error-prone – making it difficult to make smart business decisions.
With reporting and analytics software that’s part of a back office platform, you can reduce this manual data entry. Instead of your team having to manually enter data, this software can create a seamless data flow. That way, all the information your team needs to generate reports is where they need it when they need it.
By choosing reporting and analytics software that’s part of a complete back office platform, your team can spend less time on tedious data entry. As such, your team can spend more time generating the insights you need to reach your brokerage goals.
Another way to get the most out of your reporting and analytics software is by ensuring it has automation.
Manually analyzing data and compiling reports can suck up hours of your team’s time each week. Along with being time-consuming, manually generating reports with spreadsheets or other low tech tools is likely to have errors. If you use incorrect data to make business decisions, you could make decisions that end up reducing revenue, increasing expenses, not retaining agents, and more.
Instead of relying on manual data analysis and reporting, you need analytics and reporting software with automation. With automation, your reporting and analytics software can automatically analyze data and generate reports. Since data analysis is automated and more accurate, you can more confidently rely on the insights this software generates.
By automating your data analysis and report creation, you can generate better insights faster – helping you act on business opportunities sooner.
Along with automation, wide integration with third-party tools can also help you get the most out of your analytics and reporting software.
Reporting and analytics software gets most data from your back office platform. You might also use third-party tools (like QuickBooks or Dash). If your reporting and analytics software doesn’t have wide integration, your team will need to manually transfer data to and from your third-party tools. This wastes time and keeps your team from high-value tasks.
However, with analytics and reporting software with wide integration, transferring data between systems is a breeze. Data can automatically flow between your back office and third-party tools. That way, your team doesn’t have to spend hours every week on data entry. Instead, they can focus on managing more transactions to grow your business.
With third-party integration, analytics and reporting software makes it easy to transfer data between your systems – saving time and increasing efficiency and productivity.
The ability to customize reports is another feature that can help you get the most out of your analytics and reporting software.
Your brokerage has unique needs, structures, goals, and more. What you need out of brokerage reporting differs from other brokerages. However, many reporting and analytics software only has a few generic reports you can generate. If you need to see custom metrics, your team has to manually build reports from scratch – which is time-consuming and tedious.
Reporting and analytics software that has custom reports makes it easy to generate the exact reports your brokerage needs. Instead of having to create new spreadsheets every time you need a custom report, your team can create custom templates in this software. These templates make custom reporting quick and easy.
Custom reporting helps you get the most out of your reporting and analytics software by allowing you to tailor the software to your specific needs. You still get time-saving features of the software – while generating the details you need to make smart business decisions.
The last way to get the most out of your reporting and analytics software is to use a dashboard overview to see the big picture.
Individual reports provide a detailed look at different metrics – like agent performance or transactions. However, it can be hard to understand the big-picture aspects of your brokerage (like projected and pending cash flow) from individual reports. Manually compiling multiple reports to get an overview can be a days (or weeks) long project for your team. By the time they have an overview compiled, the data may be too outdated to provide accurate insights.
To get the most out of your reporting and analytics software, you need software that has a dashboard overview. The right reporting/analytics software can generate a dashboard overview of pipelines, cash flow, and more in a matter of minutes. That way, you can have updated, accurate data to make the best business decisions – all with less work for your team.
Dashboard overviews can help you make the most of your reporting and analytics software by providing up-to-date big-picture insights that help you maximize business opportunities to reach your brokerage goals.
Reporting and analytics can help you find the right opportunities, optimize performance, remove bottlenecks, and more. However, if you’re not using the right analytics and reporting software, it will be difficult to see any of these benefits.
To get the most out of your reporting and analytics software, you need software that’s part of a complete back office platform, has automation and wide integration, allows report customization, and provides a dashboard overview.
Looking for the right reporting and analytics software? Brokermint has what you need. In its reporting and analytics module, Brokermint has a dashboard overview and customizable reports. As part of a complete back office platform, Brokermint’s reporting and analytics module also has top-notch automation and wide third-party integration.
Along with analytics and reporting, Brokermint also offers transaction management, commission automation, accounting, and agent management. With Brokermint’s five modules, you’ll have everything you need to streamline and modernize your back office.
Book your Brokermint demo today to see how to get the most out of your reporting and analytics software.
Schedule a demo and see your back office with Brokermint.
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