How real estate companies can benefit from Dynamics 365 Business Central

From managing sales and listings, property payments, document management, and more, real estate companies often find themselves using various different software solutions for key operational processes without any integration between them. To reduce inefficiencies, streamline workflows, and allow for seamless data flow, Rand Group recommends using a single software solution for managing your business processes.

Microsoft Dynamics 365 Business Central is an all-in-one business management solution built on the cloud. Business Central enables companies to manage their business, including accounting, sales, project management, billing, and relationship management, and more. It is fast to implement, easy to configure, and can support even highly specialized industries such as real estate. It offers capabilities of both an enterprise resource planning (ERP) solution and a customer relationship management (CRM) solution.

Below is a list of Dynamics 365 Business Central features that real estate companies can benefit from using.

Keeping track of all your business contacts and relationships is made simple with a single database. Enter information for all leads, customers, vendors, partners, contractors, employees, and other related business contacts in Business Central. Create tenant cards with licensee information, tenancy terms, rent review date, indexation date, rent elements such as deposit, rent, fixtures and fittings, and funds. Easily search for and display a history of interactions with each contact, including history of tenancy or property relationship.

Real estate organizations know just how much paperwork goes into transactions, including property sales and rental agreements. Business Central is your hub for storing all relevant documents in a central location. Link documents directly to contact records so you never misplace a document again. Secure electronic signature is built-in with Business Central for all parties involved in transactions to easily sign documents online.

As a real estate company, one of your areas of operation might include property and tenant management. Business Central contains all the billing capabilities you need to keep payments on track and generate invoices automatically. Create flexible billing frequency, payment terms, and indexation frequency on each rent element. Accommodate one-off rent runs or routine rent for multiple properties, including generating and distributing rent demands via email and print. You can also build a custom payment portal in Microsoft Power Apps and connect it seamlessly with Business Central. Additionally, you can set up complex commission tiers to facilitate paying realtors and brokers.

Business Central’s project management functionality allows you to monitor and track various types of projects. Create budgets at the work breakdown structure level and quickly compare to current progress. Use time sheets to track resource and employee hours and usage on jobs and data for invoicing. View the allocation of employees, machinery, and other resources being used on all projects to keep projects on track.

Business Central also contains robust sales functionality that will allow your real estate business to keep track of customer interactions and get guidance on the best upsell, cross-sell, and renewal opportunities throughout your sales cycle. Log all inbound and outbound email messages and automatically log other interactions such as sales orders and quotes. Create dashboards that show daily work-related sales numbers including activities, sales pipeline, and open opportunities and leads. Use pipeline charts to visualize revenue for an opportunity based on each phase in order to help the planning process. Connect Business Central with Dynamics 365 Sales for even greater sales capabilities.

With Business Central, you can access your business information from anywhere, at any time, from any device, such as while you’re at an open house or walking a property or construction site. Wherever your real estate business takes you, Business Central is a trusted, cloud-based application to help you increase productivity and streamline operations.

Rand Group is a certified Microsoft partner with over 20 years serving clients. Our team of solution architects will help your organization identify technology requirements, then deliver Dynamics 365 Business Central with customizations tailored to your business processes. Contact our team to get started today or explore all of Business Central’s robust functionality here.