It’s no secret that the world is changing faster than ever before. Remote work, mobile connectivity, and increased interconnectedness have turned every industry on its head, including real estate. Faced with the need to change, many franchises and brokerages are making much-needed technology upgrades, transitioning from filing cabinets to document management systems and brick-and-mortar storefronts to cloud-based collaboration. One important update that many are making is to their back office software.
Hitting the back office wall
Before taking the leap, many decision makers tend to keep pouring money into outdated back office software that isn’t meeting their needs anymore. They’re stuck thinking about all the money they’ve already spent and all of the data that exists in their current system, and they’re afraid to walk away. This tendency is what business psychologists call the sunk cost fallacy. And it’s understandable: buying or upgrading to a new back office software is daunting. For one, it’s a big investment, and it’s hard to know exactly what you’re getting before you buy. Sometimes, it can be hard to know where certain products fall short.
Some of the biggest names in back office software aren’t investing in their products like they should. It may seem counterintuitive, but some “tech” providers are actually living in the dark ages, operating outdated software that can’t grow effectively as technology advances, even in such critical areas as cybersecurity, cloud computing, updates, and more.
Taking the leap
If you’re considering changing or upgrading, here are five important questions to ask when vetting a new back office provider, and how we at Constellation1 answer those questions.
- Do they invest in themselves?
Companies shouldn’t expect their customers to invest in them if they don’t invest in themselves. We continuously invest in researching and developing new products and finding ways to improve existing ones. Constellation1 currently has over 50 employees working full time on R&D, and it shows in the quality of our products and the constant improvements our customers see.
- Do they invest in others?
Over the years, we have made the conscious decision to partner with the very best experts in our space, creating synergies in our fast-paced industry. As a result, we’ve acquired four companies since 2017, as part of our buy and hold strategy, and continue to make strategic acquisitions that suit both our needs as a company and the needs of our customers. We take this same approach to how we develop our customer relationships: we’re committed to a long-term partnership with you.
- Are they a partner, or just a provider?
A provider might sell you a great product, but once the implementation is over, they stop answering your calls. A partner, on the other hand, understands that their success is reliant on your success. At Constellation1, we are partners for every single one of our customers, and the caliber of our customer service reflects this partnership mentality.
- Are they exceeding their customers’ expectations?
Can a prospective vendor provide a long list of loyal customers? Do customers choose them because they just meet their expectations, not exceed them? We don’t just check all the boxes for our customers, we make a concerted effort to go the extra mile for each and every one. It's important to consider a vendor you can trust and that isn't overselling what they’re capable of.
- Are they true experts?
At Constellation1, we walk the walk. In Data Services alone, we have more than 20 years of experience and numerous staff members devoted entirely to our data services solutions. Our agile teams, in all departments, lean on their expertise in their respective fields to find creative solutions to customer hurdles. We pride ourselves in staying abreast of cutting-edge trends in real estate and IT to make our solutions the most secure and effective offerings on the market.
Are you ready to see how Constellation1 can get your back office in order? Schedule your personal tour today.
