Access Previous Project Data to Improve Your next CRE Project

For commercial real estate (CRE) developers, the availability of accurate, actionable data from previous projects, and the ability to access this data, is hugely important to help inform decisions and ensure the continued success of current and future projects.

In today’s challenging real estate environment, all aspects of operations must ideally run at optimal efficiency. The best way to increase the odds of this happening is the ability to utilize reliable data from past projects to inform proactive decisions for current projects.

And the best way to procure this ability is by employing a cutting-edge, state-of-the-art real estate developer software solution, such as Budgetrac.

Budgetrac is customized specifically for real estate developers

The only software specifically designed for the real estate developer available in the market today, Budgetrac swiftly and accurately delivers needed information from all aspects of business in real-time, thus reducing risk.

Development is a complex business. As such, it requires a solution that simplifies the process while simultaneously being comprehensive enough to address all aspects of operations. Not general contractor or subcontractor job-cost software, Budgetrac instead is a complete real estate developer solution. Providing one solution for everything eliminates the need for standalone applications and external spreadsheets, both of which lead to inefficient and inaccurate data collection.

Budgetrac addresses critical real estate developer needs with industry-specific functionality, such as:

  • Complete loan draw and funding functionality that significantly reduces loan preparation time.
  • Comprehensive commitment tracking that provides critical project information which assists in reducing your risk of project-cost overruns.
  • Complete profitability cycle functionality in one solution that eliminates the need for multiple applications and spreadsheets and measurably increases your team’s efficiency.

Solution offers commitment tracking, projected cost and development cycle boosters

Budgetrac commitment tracking can forecast the estimated cost to complete at any point in the project life cycle. You no longer have to drive down the project highway, looking out the rearview mirror after all the costs have been incurred. Successful project cost-control enables you to look out the project windshield and steer your project toward the right destination with reduced risk.

Budgetrac manages all aspects of developmental operations, from inception to completion, from project pre-development through vertical construction to property management and tenant improvements, and from lender funding to tenant billing, all within one database and in one solution.

The tool’s comprehensiveness enables users to explore other real estate-related businesses without the concerns of adding different software products and the corresponding interface issues they would incur. The Budgetrac suite of products addresses all aspects of real estate developer, property manager and home builder in one solution, integrated with a world-class, real estate-oriented financial reporting system.

Data should help retain focus on both project and finance perspectives

In the CRE development industry, developers are very dependent on project budgeting software. The best solutions in this space should give the project perspective as much attention as the financial perspective. All the software modules or functionality should be project aware, with each module providing the necessary project perspective to complement the general ledger perspective.

Independent perspectives are the key to addressing the real estate developer’s needs and reducing technical debt. In this way, the project perspective permeates the software design, and the developer gets to see the project from the top-down. Since most developers hire a general contractor and subcontractors to implement projects, top-down financial control is more critical than bottom-up details.

Nearly all job costing software emphasizes the subcontractor or general contractor perspective where the detail level drives the reporting. But success in the developer market comes from its ability to go beyond the details and show management top-level project status and the various detail levels that support it. The software solution must address the complete life cycle of a real estate asset: from project inception to project completion, and from pre-development to property management, in order to minimize budget debt and maximize profit, efficiency and client satisfaction.

For more information, visit https://antonsystems.com/.

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