Introduction to Property Document Management Software | Benefits & Features

Introduction to Property Document Management Software | Benefits & Features

Introduction to Property Document Management Software | Benefits & Features
Also known as a property management software or real estate document management software, property document management software is a tool that streamlines & automates every step of a document’s lifecycle from document creation, editing, storing, sharing & deleting. It acts as a single digital repository of all business documents, which can easily be accessed through PCs, laptops & mobile phones, from anywhere with an internet connection. It also comes equipped with a much better security system, which protects documents from thefts, leaks & damages.
Benefits of property document management system:
  • Reduces documentation costs & time: A property document management software completely eliminates the need for paper, binders, stationery, filing cabinets & physical storage units. It also reduces your dependency on individual document editing & storing apps, thereby reducing overall documentation costs. And its automation based design and increased accessibility & efficiency also reduce the time you spend doing paperwork.
  • Protects documents: A property document management system’s security features protect your documents from unauthorized access & sharing, internal & external damages, thefts & leaks, and also give you complete control over your information.
  • Improves document organization & search: One of the key benefits of having property document management software is having your documents well organized & easy to find. The software allows you to group documents indistinguishable groups based on their client, project, date, status, etc and also lets you attach metadata tags to documents that make finding documents that much easier.
  • Helps maintain compliance: Safeguarding employee & client information, tracking purchase & sales ledgers, adhering to government laws, and ensuring health & safety standards are just some of the protocols every property business has to follow. A property document management system provides all the features necessary to comply with such essential industry norms as HIPAA, GDPR & more.
Features provided by property document management software:
  • Built-in scanning & virtual printing: Most property document management systems have a built-in scanning feature that lets you scan documents on the go, from your mobile phone. The software also comes with a virtual printing feature that lets you share virtual printouts with any user you want in the form of a PDF file. These features are essential to property managers because they reduce their dependence on paper and allow them to record & share information on the go.
  • Document linking: Document linking lets you link related documents together. Let’s say you have a group of documents for a project in NYC, and you want to link a list of potential buyers to that group of documents for easier access. A property document management system’s linking feature creates a link between the two sets of documents, which can then be used to access either set of documents from one location.
  • Document versioning: Document versioning is the process of creating, storing & accessing multiple versions of the same document. Document versioning is a helpful tool to create versions of property documents like sales agreements, tenders, project designs & more. Document versioning automatically creates a new version of a document once you make changes to it, and also lets you go back to older versions if required.
  • Automated indexing: Extracting text from scanned documents & images can only be done with the help of Optical Character Recognition (OCR). Most property document management software is equipped with a top of the line OCR technology that automatically extracts important text (metadata) from every scanned or uploaded file, and indexes the text in its respective fields, for eg: ‘client name’ under ‘name’, ‘profession’ under ‘industry’, ‘annual salary’ under ‘client grade’ and so on.
  • Document approval automation: Delays in document approvals usually means that your client is going to choose another house or office space. A property document management software workflow automation feature lets you replicate & automate every aspect of a physical document approval process, online. It allows you to create your own custom workflow design to suit your business’s needs. You can choose the number of approvers for every type of document, add notes to notify other users about the parameters for approval, automatically transfer documents to the next user once they have been approved, and you can also notify users about pending approval tasks through emails & in-app notifications.
Property or real estate document management software offers plenty more features, and their benefits usually outweigh their cost. And if you are hunting for the perfect property document management system for your business, take a look at our software GLOBODOX. GLOBODOX is one of the most user-friendly & cost-effective document management software in the industry, with a relatively low learning curve, even for new users. GLOBODOX’s simplistic design & wide range of features help you cut documentation costs & time by more than 40%. Our software has helped more than 2500 companies, including MNCs like Nasa, Hutch, Tata, FDA, Westin & many more.
For more information, write to us at [email protected] or check out GLOBODOX for yourself with our 30-day free trial.

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