“Everything is heading towards full digitalization”. You’ve probably heard this countless times. However, what exactly is digitalization, and how can it help Your business? In this article, we’ll help you understand digitalization and demonstrate its practical applications for the real estate sector.

“Only 54% of companies follow a clear IT strategy and view their IT infrastructure as well established and, respectively, as a basis for their company internal digitalization.” – latest digitalization research by EY Real Estate and Zentraler Immobilien Ausschuss (ZIA).

Real estate experts have to handle great volumes of data and documents every day, all existing in different formats, some in paper form.

Managing them costs a lot of time, much is being lost, alterations cannot be reliably traced, so there are often several versions of one document, not mentioning the difficulty accessing these documents.

Time that can be used to keep track of new developments in the real estate sector and advance your company is being wasted on tedious routine assignments that must be addressed manually.
A characteristic feature of real estate is that a significant share of work is being done outside of the office.

This poses more problems, as employees may require secure access to data and documents on the go, which often creates delays.

And what about Work-Life-Balance? Employment trends are changing – employees want to have an option of working from home at least some of the time, and taking important documents home poses security risks. So many challenges, which cannot be addressed without digitalization!

Everybody speaks of digitalization, but what is it all about?

Business models and processes are being reimagined through the implementation of digital technologies. Developments in the technological realm are changing the way we search for information, transfer and consume it.

Digitalization is the transformation of natural business processes into virtual operation sequences.
In order to be competitive, digital technologies implementation must be a priority for businesses as those who do not embrace it now will inevitably get left behind.

Digitalization is unstoppable. It challenges entrepreneurs and forces them to innovate, since it provides so many benefits to competitors who adopt it.

Digital transformation presents yet unimagined development chances.

As will all revolutionary concepts, many companies are slow to adopt them.
About 250 respondents from the German real estate sector took part in the interview by Zentraler Immobilien Ausschuss (ZIA) and Ernst & Young business consultancy.

23% of the interviewed companies invested less than 1% of their total revenue in the digitalization measures in 2020. Other businesses are evidently on the right track: more and more businesses are making their bet on digital strategies to carve a chunk of the market.

Digitalization presents 6 unique possibilities for the real estate sector.

Real estate is a service sector characterised by the involvement of many individuals, an immense volume of communication and daily routine assignments, so benefits of digitalization are especially apparent here.

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Daily routine assignments automatization

Do you still compose your сontracts, agreements, accounts, reports, and other documents manually? Automatic document creation saves precious time and eliminates the human mistake factor.

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Digitized procedures

There is valuable data hidden within informational noise.
Digital systems can analyse this data and pinpoint anomalies to help you make data-driven decisions.

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Cloud & DMS

The more documents, the harder it is to handle them, right? With the help of cloud-technologies and digital document management, your data and documents are stored in one place, automatically updated, and easily searchable.

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Mobile applications

Secure access through mobile devices helps your team view, use and edit data and documents anytime anywherу. The work is no longer tied up to one place anymore, and can be done at home, in the office, or on the go.

Your Website

Clients can’t find your company on the Internet or your website is outdated?
People are spending more time with their mobile devices and make almost all decisions online. Their demands are becoming more sophisticated. Accordingly, your website should run optimally on mobile devices, and create an accurate brand image for your company.

If it’s not already, digitalization should be a priority for your business

Digitalization, innovation and sustainability – are becoming more and more important for future-oriented real estate executives.
Your company is one-of-a-kind, and so are our software solutions. We focus on your unique demands and requirements to build you the best tools for the job.

Posts by
Sergej Hermoni

Sergej Hermoni is the CEO and co-founder of impltech and the expert when it comes to business development in real estate and finance. He has a deep understanding of the customer journey and the development of optimal customer experiences. Sergej completed his business studies at the Humboldt University in Berlin and and wrote several academic papers on financial market efficiency and portfolio optimization. Before impltech, he worked for several companies in Berlin, London and New-York and was responsible for digitalization projects at banks and insurance companies.