Why The Enterprise Model May Be Right For Your Company
Systems Engineering Guide
Enterprise technology, information, and infrastructure refers to the concept of information technology (IT) resources and data that are shared across an enterprise.
Enterprise software, also known as enterprise application software (EAS), is purpose-designed computer software used to satisfy the needs of an organization rather than individual users.
The Enterprise Model Benefits
The concept of enterprise technology is pretty simple, but why is it important for our industry to consider enterprise technology and what are the real benefits? Actually there are multiple benefits as well as real dangers if companies run without enterprise software. Whether you are a franchise with multiple regions, or a larger independent company with one or more offices enterprise solutions make sense. Consider the following benefits.
Your company name and brand is totally aligned with your company success. If you own or run a company today you spend a lot of money to promote your company and your agents and your reputation depends on how successful you are. This is difficult for any company but for real estate companies it is much, much harder because you work with independent contractors who very often are doing things that countermand the very things you are doing to promote and unify your brand! Enterprise technology allows you to better control how your brand is presented to the public and to control the quality of content at the same time. This can be done effectively from the company level to the single agent website, leveraging your common brand, colors schemes and tools without taking away the opportunity for teams and agents to still differentiate themselves. On the other hand if the every agent is doing their own thing, without any connection to the central brand, there is no multiplication effect from marketing efforts, in fact that is a subtraction effect. Controlling your brand is crucial for successful marketing!
Enterprise systems allow those at the top, the administrators, to get a clear view of the key metrics of a company. It allows them to see, manage and distribute leads and to hold those receiving leads accountable. Reports show which agents are taking prompt and consistent action and which aren’t. Having a clear view of what is working and who is working allows them to take proactive action to make the company better. Should everyone get leads or just those that demonstrate they will work them? Is additional training and mentoring needed, you’ll see where. Transparency is critical in any company to be successful.
Tools, Training, Experience, Retention
Enterprise systems allow a company to share tools, training and experience throughout an organization or company. When everyone is using their own systems and tools this is lost and everybody is on their own. When every agent has access to the same toolbox training is easier and less expensive and when the same tools are presented to the public throughout the company, it helps to unify the brand. Experience is leveraged. Agents are able to share best practices with each other because they are starting with a common foundation. This means that over time, agents will actually use more and more of the tools available to them making the entire system more valuable to them, to their customers and to the company. This has a secondary and very important effect as well. Becoming competent in a solid enterprise system is a powerful agent retention tool.
There is absolutely no question that the cost per agent using enterprise web services is less expensive than procuring the same products individually. Size matters, its as simple as that.
One of the other very significant advantages of using the enterprise approach, if your company is large enough, is being able to procure services on a per agent basis, by committing to a vendor for a number of years, typically three. When you think of it, this is pretty easy to do. What company wants to go through a website and marketing tool change, train all of their agents and then switch to another platform sooner than 36 months? What this means is a company using the enterprise approach doesn’t get hit with a big capital expenditure in the first year of implementation. Rather, these first year costs are amortized over the life of the commitment providing a more manageable fee per agent that is even through the term. It can even be set up to accrue programming and design credits so your system can be continually upgraded over time without large one time capital expenditures.
Having a solid enterprise platform is a huge advantage when recruiting quality agents. Being able to take the burden of managing software and websites off their back is a tremendous benefit that allows them to focus on what is making you money. They benefit and the company benefits.
Management and Coaching
Running a company without enterprise software is like driving a car without instruments. You have to guess at what all the moving parts are doing and while the car might start and move you really don’t know have a clear picture of what is working and what is failing until something major happens. An enterprise system gives you the transparency and control in an organization necessary to take proactive action in the form of management and coaching so you can avoid the big problems down the road.
Managing Company Technology Change
When an entire company is on a common enterprise platform implementing technology change is much easier. If for example, a REW customer decides to implement the REW property valuation tool at the enterprise level, it is a simple process. Since everyone is on a REW enterprise system the valuation tool can be easily installed. Training classes and/or webinars can be held for everyone at the same time and since everyone is learning together there is a sharing of experiences. Great changes like this can happen very quickly and effectively. Unfortunately, if some agents were on a separate, non-enterprise platform, this wouldn’t be the case and advantages of enterprise wide upgrades would be lost to them and their customers.
Managing and Improving Lead Conversion Rates
In the end, technology should be about improving your ROI. If it doesn’t do that it’s simply an expense. Having a solid enterprise system like REW allows any enterprise to have full transparency into their lead management, lead distribution and lead conversion and to implement processes to increase their conversion rates. That increased efficiency starts with solid tools to track and distribute the leads coming in and to make sure they are being attended to immediately and properly. Without an enterprise system this is impossible.
If would like to see if the enterprise model makes sense for your company, please contact me at email@example.com or call me at 716-839-4628.