What is space planning software?

Space planning software is a professional digital system that constitutes an interactive commercial real estate (CRE) archive. This state-of-the-art platform provides CRE managers with intelligent tools to track performance, retrieve information, analyze data, simulate space divisions, and create reports. Have a look at this business solution’s transformative capabilities.

The challenges of the CRE world

Managing commercial real estate is demanding for many reasons. Firstly, even daily operations require dealing with considerable volumes of information. To keep the return on investment as high as possible, one frequently needs to delve into details, such as contract expiry dates, relevant municipal taxes, area price, asset designation, etc.

Additionally, this is an inherently complex business sector, with numerous players and fierce competition. CRE managers must keep an eye on the market and remain aware of the fine details of their own facilities’ performance. This is vital for sound budgeting and for any policymaking in general.

Besides all these challenges, by its nature, the real estate market is influenced by local and global events more than many other markets. For example, the aftermath of the COVID-19 pandemic shows us that no industry sector is immune to dramatic demand fluctuations. While the lockdowns had brought chaos to the CRE world, currently it is experiencing an impressive revival.

In general, taxation and monetary policy changes, recessions, and force majeures – all immediately affect commercial real estate. Obviously, the best way to prepare is to develop an ability to respond quickly.

Nowadays, traditional CRE methods cannot quite cut it, as indexing spaces and filing documentation by hand is time-consuming and inconvenient. Delays may cause losses, as time wasted on procedural issues, such as asset searching, cannot be devoted to more important tasks. This is not an option: prospective tenants want to get an attractive offer right away, and information accessibility can make or break a deal.

Lastly, to monitor property performance in real-time, the corporate database has to be searchable, and one must be able to easily perform various analyses. Only then the accumulated information can reveal unidentified opportunities.

To summarize, one cannot make do with inappropriate or outdated tools. Commercial real estate managers’ job requires specialized management systems.

A dependable digital solution

Using professional space management software supercharges one’s abilities. Essentially, such a system establishes a computerized corporate information and analytics hub and provides CRE experts with built-in tools to review any asset’s past, track its present metrics, and plan future policy accordingly.

Our own comprehensive Space Management Solution is a dedicated platform designed to do just that. Have a look at some of its key features:

·        Live property maps – when compared to spreadsheets graphics are easier to read at a glance. The space management system displays legible floor sketches for every building. Individual spaces are color-coded according to their current rental status, designation, and space use. This helps visually compare area sizes and locations.

·        Rich information linking – one can select specific assets on the map to access their full records. These can include site plans, legal documentation, photos, etc.

·        Built-in space planning tools – the included measurement, calculation, and area editing tools allow for the simulation of various scenarios. CRE managers can use these tools on their own to virtually merge or split spaces on the map and calculate the resulting area, estimate applicable taxes, and even create attractive marketing simulations.

·        Sophisticated search capabilities – Finding specific rented spaces is easy: the system’s search engines can search the database by tenant name, business title, property number, tax account, and more. This way, no asset remains overlooked.

·        Customized reports generation – the software can extract relevant information from floor sketches and documentation, process it, and produce a detailed report accordingly. For instance, reports can be customized to analyze the area allocation by designation (public, shared, or private areas) or by intended use. It is even possible to use the system to optimize municipal taxes by calculating the actual area in use as opposed to the figures registered in official documents.

·        Interoperability with other software – our program is compatible with existing enterprise resource planning systems, and it can function as an integrated module for resources management software.

·        Space management optimization – the system takes the guesswork out of occupancy management. It clearly highlights any unoccupied areas within the selected facility, drawing property managers’ attention to underutilized assets. This knowledge lets them know how to adjust their pricing and marketing policies, to optimize performance.

·        Secure access from anywhere – as the space management system is cloud-based, it can be accessed from any computer with a web connection. No local installation is required. Being a priceless knowledge center for your company, the space management system is encrypted in accordance with the highest security standards. Additionally, all users’ data is automatically backed up on separate servers for protection.

·        Full technical support – our specialists will guide new customers through the necessary steps to complete the software implementation. After that, POC Systems provides users of the space management solution with continuous professional assistance. For example, they add floor plans of new facilities to the system.

A special work experience for all employees

The adoption of real estate management software can revolutionize CRE supervision, streamlining everyday processes and helping executives make informed decisions. This level of orderliness is a significant competitive advantage.

Anyone can quickly master the user-friendly interface and seamlessly incorporate the system into their management routine. Although it is simple to use, the space management solution is a powerful professional platform:

No special sketching skills are needed for work, so property administrators can plan space divisions on their own. Marketing staff can use the platform to produce persuasive marketing simulations, and legal and financial experts can use materials from the same system for legal documentation and budgeting, respectively.

Commercial real estate may be a challenging and changeable market, but using the right tools one can maximize the utilization of the existing asset inventory and increase corporate revenue.