1. The Approval Process Is Too Complex
Multiple steps must be completed and approved by various stakeholders. Simple changes can require excessive amounts of time as a result. Some individuals with different priorities may take too long to approve terms, and the agreement’s momentum will be lost, wasting valuable time and money.
To speed up the process, Datex created the Lease Approval Workflow, which tracks steps, stakeholders and actions in an interactive workflow, and notifies stakeholders when action is required.
2. Team Isn’t Aligned and Lacks Visibility
The leasing process can be complex and requires numerous documents and back-and-forth exchange of information. When team members communicate with different documents, and outdated versions of the same documents continue to circulate, you lose time and money. Furthermore, the data which Leasing gathers isn’t usually shared with the rest of the team and becomes siloed.
The Deal Status Grid organizes all your deals in one place. It becomes easy for your whole team to track all of your deals from beginning to end, and filter deals based on your parameters. For more information, you can quickly link to any deal from the Grid. All data and documents automatically update when changes are made, so your whole team has access to the same information, in real-time.
3. Hidden Bottlenecks Waste Time
Even with a standardized process, changes and variation can cause simple negotiations to take much longer than they should. The process easily gets stuck, and most of the time, your team is too preoccupied to notice.
The Leasing Approval Workflow removes bottlenecks to get deals done. Quickly see cross-department workflows on any deal and automatically notify individuals when they need to keep things moving.
4. Managing Documents Drives Waste and Mistakes
Without a single source of truth, there is no way to keep your entire team informed and aligned. Keeping everything together, in context, and having the latest version can seem impossible.
Instead of messy excel sheets and document folders, the Datex Leasing Application uses Integrated Document Management, which keeps documents and notes organized with their respective deal. All your comments are kept in one place instead of scattered throughout your emails. Never lose track or use outdated information again!
5. Outdated Budgets = Bad Deals and Unpleasant Surprises
Up-to-date Leasing and budgeting assumptions are critical to achieving profitable deals. But most Leasing Assumptions are only updated annually (or less)! Outdated lease rates or CAM expense budgets can result in lower profits, or worse, bad deals!
The Datex Leasing Assumptions Workflow ensures efficient and timely updates every quarter, making budgeting efficient and analysis effortless. Easily track old and new assumptions for every suite, and instantly know how changes impact your budgeting with automatic updates that highlight changes. By having up-to-date Budgets, your leasing agents don’t waste time on deals that are not at the expected profit level. Deals are dynamic; your system should be too.
Leasing Doesn’t Have to Be So Complex!
If your leasing process is costing you time and money, maybe it’s time for a change. Contact us for a free demo of Datex Leasing Automation. In just 15-minutes, we’ll show you how Datex can help your team make better decisions, stay aligned, and drive unprecedented productivity.
Want to Learn More?
Check out our Leasing Automation Spec Sheet for a summary of the benefits and features of Datex Leasing Automation. Transform your complex leasing processes into a seamless cross-department collaboration with Datex!
But don’t just take our word for it. Listen to what our customers have to say about Datex Leasing Automation! Danny Annibale, VP of Leasing at ACADIA Realty Trust, explains how Datex made his job smarter, faster, and easier!