It’s safe to say that eliminating mundane activities is fairly high on the list of priorities for real estate investors. Few tasks are more mundane than manual data entry and manual reporting on deal analytics.
Creating and updating reports are ubiquitous, never-ending tasks in commercial real estate. Every week, every month, every quarter you have to create new pipeline reports, investment committee reports, or stakeholder reports for a capital partner.
Though it may be an undesirable task, detailed and up-to-date reports are like gold in commercial real estate. They provide critical visibility and actionable insights into deal pipelines and portfolios. They build confidence in deal execution and they facilitate a data-driven decision-making process. Still, nobody wants to be the one building the report. Real estate professionals need and want to be sourcing and executing on deals, not updating spreadsheets.
That’s why PropTech has deliberately taken aim at building a platform capable of automated reporting. At Dealpath, we consider reporting to be of the utmost importance. Reports need to up to date with accurate, real-time data and powerful deal analytics. This ensures everybody is working with the same information and not burdened with the recurring need to prepare and maintain reports.
Investors need to report on similar metrics over and over, like purchase price and square footage, but the more deal analytics they have access to, the better equipped they are to evaluate complex deals. Reports should also be sortable by trade area data, occupancy percentage, equity, deal progress, property type, deal type, base rent, LEED rating, and a virtually unlimited number of other metrics. These should be instantly populated into reports, without having to format them and chase down data from disparate sources.
We’re proud that Dealpath’s reporting functionality is setting the bar for other deal management software. We built the platform to have a centralized database that intelligently structures data in such a way that you can build customizable reports with real-time data and a near limitless number of options. We’d love to show you firsthand how the reporting function works in a live demo.