Digital Transformation Definition
What is digital outsourcing and digital transformation? If you’re asking yourself that question right now, keep reading. I’ve got the answers you’re looking for.
Yep Digital Outsourcing (IT Outsourcings new name, Sometimes it’s more convenient to have someone else do the work for you.
Consider the pyramids. While the Egyptians, of course, paid no one, they outsourced the building of the pyramids to foreign slaves.
Thanks to globalisation we can outsource tasks to workers and companies for less money and time than we would spend if we tried to do those tasks ourselves.
And along with outsourcing comes the need for digital transformation. If you’re in the real estate sector, “going digital” isn’t always easy. Especially if you’ve been in analogue mode for a long time.
What Is Digital Outsourcing?
Essentially, the goal of IT outsourcing is to provide the best possible tech to your organisation at the lowest possible cost.
This is a fluid dynamic because technology is constantly evolving and changing.
Sometimes digital outsourcing has nothing to do with adopting cheaper technology and has everything to do with relying on outside help through technology.
Enter cloud management software as digital outsourcing.
Imagine being able to take a more laissez-faire approach to real estate investing. Does this scare you a little?
The idea of remote investing is a scary idea for some. But it comes with its advantages.
Cloud Management Software Makes You Mobile
What if you could move your whole real estate investment business online?
If you run a large enough business, you have to pay for expensive in-house networks and IT professionals.
With cloud computing, you can completely eliminate that overhead for your business.
And at the same time, you will free yourself from that inevitable ball and chain: your desk.
When all of your management software is online, you’re mobile. You can be where you want to be and still access the information you need.
And with digital outsourcing, any digital platform is available. Choose the platform that’s comfortable.
If it’s a laptop, you have a connection. If that means a smartphone or tablet, you’re even more mobile.
Cloud Management Software Makes You More Efficient
The power of cloud management software lies in efficiency.
Imagine if you could access your rent data, payment data, marketing information, construction report, metrics and data any place anytime.
How much more efficient would your life be?
You’ll be able to manage multiple deals and transactions at once.
Digital Outsourcing Through The Remote Workforce
Not only is your management software online, your workforce is online as well.
As of two years ago, only 23% of workers reported working remotely. But the remote workforce is constantly growing. And more workers today consider remote work more desirable than local work.
Why is this a good thing for you?
Outsourcing your secretarial work and management work will decrease overhead.
If you move online completely, you too can work from home. Digital outsourcing means not paying rent on your own office building.
And if you don’t run a large real estate investment business, you might still benefit from digital outsourcing.
Imagine having a workforce at your fingertips for less money than you would spend on local employees.
How much more work could you accomplish?
What Is Digital Transformation?
If you’re looking to radically improve your performance, a digital transformation is the place to start.
Digital transformation is the use of technology for exactly that, performance improvement.
One of the greatest ways to digitally transform your real estate investing business is through digital outsourcing.
And we’ve talked plenty about digital outsourcing. But what are some other ways you can transform your real estate business digitally?
Process Automation
If you run a larger investment business, certain tasks tie up your employees’ time.
Processes like HR, document creation and printing, and many secretarial processes are burdensome.
Why not let a computer do the work for you and your employees?
The menial tasks of an office environment no longer need to be a heavy weight on your worker’s shoulders.
Software automation can transform your business into a machine of its own. And your workers can focus on the real tasks of management and investment.
Digital Performance Management
With a digital transformation, you not longer have to rely on assumptions.
Real-time data is now possible through technologies like the Internet of Things. You can monitor your investment properties in real-time and see construction data as things progress.
Manage employees and management companies better after a digital transformation. Gain detailed information on each and keep tabs on the work being done.
Your decisions can be more strategic and collaborative. And you could possibly know about future investment opportunities faster.
Modified Business Models
If you think it’s about changing how you do technology, think again. Digital transformation is less about the technology and more about how you do business.
When going full digital, it’s now possible to invest remotely with less risk.
And while some investors prefer to operate locally, remote investing can be a wise choice.
You might be able to invest smarter with the ability to invest remotely.
In 2008, the financial crises caused most of the real estate market to go bust. But some areas of the world remained stable despite circumstances.
If you can find locations where real estate remains stable through tough markets, then your investments can be more secure.
With remote investing, you can apply the maxim, “don’t put all your eggs in one basket.”
If locally your investments go south, you can always count on your other investments to keep you afloat.
You can also make your investments go further while remote investing.
For example, if you live in Melbourne and invest in Spokane, Washington, you’ll be able to invest in more properties.
Transforming your business digitally will allow you to do this and more with your investment opportunities.
Conclusion: Transform Your Business
With a full digital transformation definition, your real estate investment business will look completely different.
If you’re looking for a real transformation, consider building digital equity right now. Matthew T Barton
