How do you choose back office software?
Back office software for your brokerage is a huge investment. Choosing the right software can boost productivity, increase growth, reduce expenses, and more. However, choosing the wrong back office software can slow your team down, limit how many transactions they can manage, and increase expenses.
That’s why it’s essential to choose the right back office software. However, it can be hard to make the right choice when you have so many options. We’ll cover everything you need to know to choose back office software that actually brings ROI. Let’s take a look at the first way to select back office software with high ROI – knowing what you’re looking for.
The first way to choose back office tech that has a high ROI is to know what you need from back office software.
With so many back office software options, there’s a solution for every type of back office. If you’re unsure what your back office needs are, it’s easy to choose a back office solution that doesn’t work for your team or solve the problems your back office faces – leading to low ROI.
To choose the right back office software with high ROI, you should outline what exactly you need your back office software to do. You should also look at your current tools and see what’s working and what isn’t. It’s important to keep in mind a clear outcome you want from back office software. Focusing on this outcome makes it easy to tell if a solution is exciting because it’s new or will actually work for you.
By having a clear plan to meet your needs and an understanding of what does and doesn’t work for your brokerage, you can choose back office software that’s right for your brokerage – and has a high ROI.
Along with shopping with a clear idea of what you need, looking for an all-in-one back office platform is another way to choose software with a high ROI.
Your back office has a lot of different parts – like transaction management, accounting, eSignature, reporting, agent management, offer management, and more. Many back office software options will provide solutions for a single part of your back office (like transaction management). To manage the rest of your back office, you need to adopt a separate solution for each task.
Having a separate solution for each part of your back office is not only hard to use but also expensive. Instead of adopting multiple point solutions, you should look for a complete back office platform. A complete platform should have solutions for every area of your back office (like accounting, commissions, agent management, and more) in one, easy-to-use platform.
In addition to looking for a complete platform, you should also prioritize finding back office software with wide integration. Integrating with third-party tools (like your CRM or franchise reporting) enables your back office platform to create a seamless data flow and single source of truth – reducing data entry and saving your team time.
Choosing a complete back office platform with wide integration makes your tech stack easier to use, eliminates busywork to boost productivity, and reduces expenses – all of which create a high ROI.
The last way to choose back office software that brings ROI is to have an implementation plan.
Even the best back office software will have a low ROI if your team and agents never use it. Not having a concrete plan to implement your back office software can make it hard to ever get widespread adoption at your brokerage.
Since momentum is higher early on, it’s important to have a plan to get your team on board from the start. Explaining the value of your back office software (like saving time, reducing data entry, and more) up front will show your team what they gain from the software. Having a clear idea of the benefits makes it more likely your team will adopt your back office software – boosting ROI.
Along with highlighting the software’s value proposition, providing training in your new software can also boost adoption and make implementation go smoothly. One of the biggest hurdles to the adoption of new tech is that your team doesn’t know how to use it. By offering training as part of implementation, you can show your team that your new solution is easier to use than what you have – increasing adoption and ROI.
Creating a plan for the implementation of back office software helps you capitalize on early momentum to maximize software adoption – leading to a higher software ROI.
Back office software can remove bottlenecks, streamline your workflow, increase productivity, and more. However, that’s only if you choose the right back office software. If you adopt the wrong back office software for your brokerage, you’ll get few benefits and a low ROI.
To choose back office software that actually brings ROI, you need to shop with a purpose, look for a complete platform with wide integration, and have a plan for implementation and adoption. By taking these steps when finding and implementing your new back office software, it’s easy to boost ROI.
If you’re looking for back office software with high ROI, Brokermint is the way to go. Brokermint’s complete, cloud-based back office platform has everything you need to manage your back office in one, easy-to-use solution. With wide integration and training support, Brokermint provides everything you need to maximize ROI.
Along with high ROI, Brokermint has five modules – transaction management, commission automation, accounting, agent management, and reporting/analytics. With these five modules, Brokermint has everything you need to streamline and modernize your back office.
Book your Brokermint demo today to see how the right back office software brings ROI.
Schedule a demo and see your back office with Brokermint.