24 Sep A Digital Revolution in your Brokerage firm – how it can solve your business challenges
As we explored in the previous article, technology has not only consumed our lives at home but that reliance has also spilt over into our work lives. Due to advancements in technology over recent years and the sudden arrival of Covid-19, business owners all over the globe are beginning to realise what their teams may be capable of when they have the right digital tools for the job.
The sudden adoption of remote working teams that was forced upon many when the pandemic began has resulted in some business owners being enlightened to the capabilities of tech. Technology has the power to solve some of the fundamental challenges that your organisation is facing daily. We refer to this as a Digital Transformation, which we explored in detail in our previous article ‘A Digital Revolution in your Brokerage firm – What is that?’.
In the previous article, we explained that, prior to starting your Digital Transformation, you must take time in dissecting your own organisation to find out what challenges you and others in your sector are facing – doing this will help guide you down the right route and ensure that the tools you choose to invest in are right for your organisation.
Let’s take a look at the benefits that can come from a successfully managed and implemented Digital Transformation.
A successful Digital Transformation – The benefits
Improved team well-being
We’ve all been there, stuck using tools that don’t really do the job, or, arguably worse, they do the job but it just takes far longer than it needs to. Poor quality tools can really drain a previously well motivated team – the difference that good, straightforward digital tools can encourage is phenomenal, resulting in your team becoming more positive and hence improving the quality of their work.
Flexibility
Modern technology is designed to scale, and for modern business that is essential – think back to the peak of the pandemic when one day a business may have had a full team of 40 staff in the office and the following only have 5 due to legislation released the night before, and now – as things are gradually going back to normal – they may have experienced a period of exponential growth and have a team of 80, half of which work remotely and half in office. That would mean in the space of a year the business has increased and decreased their technical needs massively, and also adapted the way they work from one central location to a variety of different places all over the country. There is no point paying a large amount of money each month for a large package for x number of users when in a month you may not need that – and, vice versa, you don’t want to agree to a small package with only a few users and then struggle to keep up with growth should it happen. With a modern IT solution in the Cloud, you can agree to a monthly subscription – meaning you quite literally pay for what you need and use and not what you had previously anticipated you are going to need for the following year.
Regulatory Compliance
Traditional technology obviously isn’t as equipped with security measures as newer technologies, making it far more vulnerable to cyber criminals and therefore that you are not abiding by your regulatory compliant. Newer tech is usually equipped with modern security measures, so if best security practices are used when operating the new system, you can be confident that you are abiding by your regulatory requirements around the use of technology.
Now you know some of the benefits of a successful transformation, let’s explore how it can solve the challenges businesses in your sector are facing that we discovered in our previous article.
The challenges faced in Brokerage firms – Solved
Streamlining brokerage process
It is essential you get your entire team – wherever their location – working with the same tools, because when they are using different tools sharing information can be an extremely tedious task. Using modern technology that integrates with one another is key to making streamlining and scaling possible.
Maintaining up-to-date property information
A Cloud-based centralised system for housing data may be the best way to combat this challenge. This will allow your brokers to relax, they will no longer have to scramble to make sure that the information they are relaying is accurate, and everyone will be accessing the same data in the same place (should they have the access privileges to do so).
Retaining brokers
This one is very self-explanatory; you can compete with other firms if you are providing your team with cutting edge technology to help them complete their jobs and fulfil their potential. By doing this they have no need to go elsewhere – allowing you to keep hold of skilled individuals that add value to your organisation.
Recruiting brokers
Recruitment can be extremely tedious, and a lot of small to medium-sized businesses don’t have a dedicated team to take the task from you, leaving you to be involved far more than your schedule may allow. The right technology can alleviate this burden until the right moment. There are tools on the market that will sift through CVs for you (to a set of pre-determined parameters) that will narrow it down to a select few individuals that are right for the job – without having to take time away from your busy day. This way, you only have to interview the people that stand a chance of getting the job rather than waste your time reading through applicants that are not suitable.
Now that we know what a Digital Transformation can do for you, let’s take a look at some of the options on the market.
The options on the market
A Cloud-based file server
Most organisations globally are choosing this method, and Cloud computing is considered the future of IT for the entire planet. A Cloud-based file server is a virtual server that is run in a Cloud Computing environment and is perfect if you have specific applications or databases that need hosting.
Cloud-based file-sharing system
This can be known as online file sharing; it is a system where you will have your own storage space on a server with everything taking place on the internet. However, this method comes with its problems, because it is very difficult to implement a need-to-know security protocol surrounding data. This not only puts a lot of people off using it but also worries clients that have technical savvy that their data isn’t safe.
An on-site file server with a VPN/Remote Desktop Connection
This may not be the best option for the less technically competent. A VPN (Virtual Private Network) / Remote Desktop connection is an option for some with its ability to perform anonymous information transactions. A few major issues are that it is entirely reliant on an unfaltering internet connection and constant device-to-device support – this makes it difficult to keep your system running at its full potential – and the fact that it can be impossible to connect to mobile devices, which, in the modern world, is a major flaw.
SharePoint Implementation
SharePoint has become very popular recently. A combination of both SharePoint and Microsoft 365’s vast range of industry-defining tools is not only one of the best options on the market but also one of the most familiar, as most of our experiences with computers growing up were with the platform. So familiarity isn’t a problem when it comes to Microsoft – your team can dive straight in and have a basic knowledge of how the platform works, obviously saving on the time it can take for your team to learn it. It is easy to explain how good SharePoint is – it provides access to all the documentation your team could need, no matter their location, whilst being personalised to their needs. So, what more could you want?
A smooth transformation for your organisation
Our team of experts will assist you in adopting the right tools for your HR Agency. We will implement and maintain the tools to guarantee the advanced levels of data security, communication, and efficiency necessary within your business to be successful. Security is not a luxury but an essential part of protecting any business in the digital age – this is why we take a security-first approach, and it is this, along with our expertise in modern interactive tools, which allows us to make a guarantee to you that your communication and levels of efficiency will increase, in turn allowing you and your team to be more productive
We go above and beyond in helping our clients and their teams get much more value from their technology by providing knowledge and training whenever needed and will educate your employees to ensure they are capable of applying their best efforts to guarantee the security and success of your organisation. We guarantee that our clients always come first, with a straightforward approach that reinforces a strong relationship between our team and yours. Contact us now and find out how we can help your business go into the future with a capable team and the correct tools.
