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What Can a Multi-Cloud Environment Do for Your Real Estate Business?

Customizing integrations for mission-critical business applications to seamlessly share data has always been a challenge for IT professionals focused on commercial real estate management, development and construction. And while many of today’s cloud-based software products still cannot “talk” to each other, many are designed on the RESTful API standard. This set of open standards enables easier connections, which has opened the door for a new generation of core accounting systems specifically designed to support and leverage REST to break up information silos.

Enter the world of multi-cloud interoperability. The ideal multi-cloud setup employs a mix of public and private cloud-based technology solutions to meet an individual company’s unique goals. The objective is to select and implement best-in-class services and applications from different providers, yet that can be used in a synchronized manner. The result is a level of technology functionality that simply cannot be matched with private-only or hybrid setups alone.

Multi-cloud environments are becoming increasingly popular in the business world – and for good reason. Consider this feedback from a recent MIT Technology Review survey. More than 80 percent of the respondents noted increased security resulting from multi-cloud implementation, 80 percent saw agility and efficiency improvements, 78 percent enjoyed cost savings, and more than 75 percent reported this approach eased compliance efforts.

The benefits clearly are significant. So, how can decision-makers in commercial real estate management, development and construction leverage multi-cloud interoperability to their advantage?

Multi-cloud delivers big benefits

As the MIT Technology Review report indicates, businesses working in multi-cloud environments are seeing big results in several key areas. Consider security and data privacy, which for a long time were among the major concerns related to cloud software. The MIT report indicates that providers are successfully countering these worries. And they are doing so by providing a complete set of security features including access controls, data encryption and server-based processing.

Multi-cloud users also benefit from increased efficiency, agility and accuracy when it comes to sharing data collected from various sources. Plus, the ability to layer data from multiple applications provides new business intelligence insights, which supports innovation.

Importantly, multi-cloud environments promote cost savings. Users enjoy the benefits of an enterprise-class solution without the enterprise IT budget. They can pay as they go, easily scaling resources up or down based on growth or changing business needs. They also break free from the complexities and costs of managing hardware and maintaining software.

But making these potential benefits into business realities requires a well-planned and seamlessly integrated multi-cloud deployment that allows applications to connect.

Stay away from silos

Not all multi-cloud environments are alike. And even some of the most popular products on the market today – those that provide critical business services – may not easily interact with one another.

Let’s take your company as an example. Your accounting department, and your construction and property management teams might purchase three different applications and deploy them in separate clouds. In this setup, the individual product functionality may be solid, but related data remains locked within each department’s cloud. In order to share and compare information, employees must access data stored in one system and copy it over to the other. This is cumbersome and comes with the likelihood of manual input errors.

To optimize efficiency and harness the many advantages of a multi-cloud setup, these kinds of information silos have to go.

Multi-clouds for accounting, property management and construction management

The good news is that the best commercial real estate management and accounting systems on the market today offer seamless multi-cloud integrations with other top software products across a range of services categories – such as leasing, CRM, project tracking and reporting, building management, budgeting and valuation, marketing, contract management, and legal. Information automatically flows among applications, ensuring that data is accurate, and that key decision-makers can access a single, comprehensive view of their company’s data and leverage it accordingly.

This built-in interoperability is critical when selecting cloud-based management and accounting solutions. Commercial real estate and construction professionals who want to ensure their cloud-based applications complement their multi-cloud setups should select software that they can deploy across multiple platforms, including software-as-a-service (SaaS), public and private clouds, as well as on-premises systems. Additional priorities include the ability to access the software on any device, at any time, from anywhere. And, of course, the product must integrate seamlessly with Office 365, customer relationship management (CRM) software, and other key applications.

Throughout the commercial real estate and construction industries, professionals work from various locations and need centralized easy-to-access information to make data-driven decisions, collaborate, and to remain agile and competitive. Through an effective, well-planned multi-cloud implementation, you can streamline operations, improve information flow and, ultimately, improve your bottom line.

Propmodo is a global multimedia effort to explore how emerging technologies affect our built environment.

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