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Property management is key for commercial real estate portfolios. As a property owner/manager you understand that property management, while exciting, has a potential to hurt business if you put a foot wrong. Moreover, as you continue to scale your portfolio, the process of managing properties effectively and efficiently tend to become more complex and time consuming.

This is where hiring a property management services provider can help you get access to professional help and streamline the process, allowing you to focus on more business-critical aspects. While we understand that it is a big decision whether you want to hire a service provider or not – we have listed four key advantages of choosing an experienced, professional and knowledgeable property management company – to aid your decision-making process.

Manage legalities effectively

As a property owner you need to manage legal aspects related to renting and maintenance of properties. While basic laws governing property management is similar, yet they vary a little across few states. Property management includes lease negotiations, property inspections, terminations and even timely maintenance, if you fail to comply with any of the related property regulations and safety laws governing these activities, it can result in costly lawsuits. A property management company on the other hand, can help alleviate the risk of non-compliance, while ensuring all the relevant property management laws are adhere to consistently.

Focus on key business priorities

Property management entails multiple tasks that demands focus, time and effort on everyday basis.  Besides, as property manager you also need to handle issues and requests that your tenants may have, promptly and efficiently. In addition to this, commercial real estate portfolio management comes with administrative tasks abound including billing, rent collection, maintenance and more. When you hire a property management company, you are relieved from having to handle these cumbersome and time-consuming tasks, which gives you the time you need to focus on more business-critical initiatives and strategies and also in some ways strike a better work-life balance.

Ensure effective tenant management

Another major benefit of working with a team of management professionals is that you can better and effectively manage a large portfolio of owned properties. When it comes to tracking and managing a group of commercial properties it can be quite daunting and challenging. Professional property management companies can effortlessly manage large commercial real estate portfolios, ensuring timely and efficient maintenance of properties. This in turn results in happier and satisfied tenants.

Maximize the value of your assets

When you work with an experienced property management company you end up with a professionally managed and maintained portfolio. It is common knowledge that properties that are professionally managed lead to better investment and re-sale value. Plus, satisfied tenants and reduced costs due to timely repairs and maintenance.

Above all, you can avoid the hassle of sourcing, recruiting, training and managing employees in-house, which works out to be far more costly than hiring a management company.

Springbord offers comprehensive property management services, we are committed to maintaining commercial properties to the highest standards, enabling you to optimize asset value and ROI.

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Learn more about how Springbord help companies retain customers by leveraging business intelligence in today's world.

75% of online shoppers rely on product images to make the buying decision, while 22% returns happen because the product looks different in reality.

Creating and building an ecommerce brand is a tricky business. In an increasingly crowded marketspace players are vying to attract potential customers to visit their site and make purchase. However, there are multiple factors at play that impact the rate of conversion, but none as important and critical as product images on the ecommerce store.

As we rapidly make our way towards visually-driven commerce, well managed images have great potential to drive customer confidence. Today, consumers mostly know what they wish to purchase when they visit the online store and at times search for product/s directly. And when they visit the online store, before anything else, they expect to see high-quality product images to get a feel of how the actual product might look in terms size, texture, color shape etc. Clearly product image management has become a prerequisite, as it plays a crucial role in helping brands cut the noise, be distinct and attract consumers. Know more http://bit.ly/2YFPbpy

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Retail continues to change rapidly, driven largely by consumer expectations and emerging technologies. Not only millennials but all consumers now expect ecommerce services that offer reliability, convenience, speed and security.

One big trend that shows no signs of slowing down is the demand for custom retail experiences. This often involves face-to-face encounters but can also be enhanced by smart technology to improve the customer experience. Digital kiosks, contact payment cards and the online experience all play a part. A seamless experience that is fun and rewarding is one key to retaining customers across the board. Read more http://bit.ly/2Wu6cSO

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The real estate industry contributes $3.5 trillion to the US GDP. While the industry is the largest asset class sector in the world, it has been relatively slow in embracing technology. However, disruptive trends are compelling players to go beyond conventional operations and strategies to drive profitability and provide better customer service experiences.Read more at:  http://bit.ly/2XZC6Ht

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Ecommerce Image Optimization Services

Springbord provides complete range of image manipulation, processing, enhancement, and editing services that is detail-oriented, quick and comes at an optimized cost. Whatever your photo and graphics optimization requirements are, we can help. From jewelry retouching, automotive, and accessories retouching, industrial machine image optimization, cosmetic products editing and optimizing, to enhancement of clothing and accessories lines, our team can handle any task quickly and efficiently. We offer quick, 24-hour turn-around time and employ a streamlined delivery process that takes the stress out of the job. We are also equipped to handle large, bulk orders as we process over 10,000 images every day. Using our image enhancement and optimization services can increase your leads by almost 95%. Know more https://www.springbord.com/industries-we-serve/e-commerce-services.html

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Real estate companies are increasingly adopting the process of lease abstraction that allows them to summarize essential business, legal and financial terms and conditions. A summary of key lease provisions makes it easy to locate and access information as per business requirement.  However, the volume and complexities of commercial real estate leases can make the process of abstraction a logistical nightmare, making it less effective and prone to human errors.

Lease abstraction requires meticulous, expert and careful approach to ensure you get an accurate lease abstract. While the summary itself can help optimize time and effort, but a single mistake or inaccurate extraction could negatively impact the business. To avoid such risks, most of the real estate companies are now outsourcing lease abstraction to third party service providers. Outsourcing allows you to gain access to professionals at a lower cost and also insulates you against inaccuracies/errors in abstraction. What more? Here are 5 key advantages of outsourcing that are hard to pass up on.

#1 Optimum Resource Utilization Outsourcing lease abstraction to professionals help you free up the time of your in-house executives who can utilize these hours on more important and strategic tasks, exploring other business growth opportunities. Moreover, the third-party service providers provide a tailored summary for all legal, financial and business provisions and send them in a desired format as per client’s requirements. Custom summary reports not just make it easy to read but also seamlessly upload into the company’s financial system or other business applications saving time and effort throughout the process.

#2 More Cost-effective Lease abstraction demands skill, efficiency and commitment of extensible man-hours. Managing such complex and time-consuming tasks in-house can be expensive, including the time and cost needed to source and train the staff. Also, it may not guarantee timeliness and accuracy despite the investment and training. On the other hand, outsourcing lease abstraction projects to professionals allows business to share the work-load and extend their in-house lease administration capabilities, without going through the challenge of recruitment and training and creating processes and controls. In addition, it offers flexibility and scalability, all at a much viable and cheaper cost.

#3 Better Compliance Management This is probably the most critical advantage of outsourcing, where a service provider can generate every relevant Financial Accounting Standards Board (FASB) reports and disclosures on a monthly basis. Every report is duly audited and validated by experienced lease accountants. Access to such expertise also helps you get support in managing and adhering to other financial reporting requirements as per business specific needs. Outsourcing ensures proper governance of the process eliminating any risk of non -compliance and related cost overruns.

#4 Quick Turnaround Time When you partner with a professional service provider apart from cost and effort advantages you also benefit from faster turnaround time. Since lease abstraction is their core service, they are adept in managing complex and voluminous projects within a short timeline while ensuring thorough and accurate delivery.

#5 Efficient Property Portfolio Management Streamlined and compliant engagement with occupants and property management warrant review of leases to ensure adherence to – termination clause, security and maintenance terms and other such details as per the contractual obligation. Expert professionals help extract, standardize, and consolidate hard-to-find and complex data accurately and quickly. They convert the information into user-friendly formats, making it way simpler to review terms, assess risk/details and ensure necessary planning and action resulting in prompt and effective property management.

Springbord has been handling extensive commercial lease abstraction projects for years now. Talk to us to find out how we can share the work load and help you boost accuracy and precision across lease abstraction process.

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E-commerce is becoming increasingly accessible and consumers are shopping on the go. The convenience of shopping anytime, anywhere makes online shopping a preferred medium of purchasing. Additionally, there are more stringent shopping and safety standards that assure consumers of a great shopping experience in a secure environment. However, despite all these, online purchases haven’t necessarily increased proportionately. Here are top six ways to increase e-commerce sales for this holiday season:

Entice with Discounts Be a little more generous with your discount this holiday season because a Deloitte surveyconfirms that the best deals and biggest discounts are the strongest motivators for consumers to buy online. You also get more new customers because of attractive discounts.

Be Social – Be Everywhere Your Customers are Everyone is looking for that perfect gift. About 73% of holiday shoppers are more likely to try new e-commerce sites when looking to buy gifts. Social media is the perfect place to showcase your store and attract customers to your website. That said, do not overlook the importance of brick-and-mortar stores if you have one. Almost 50% of respondents of survey stated that being able to touch and see products motivates them to visit a physical store. Ensure you provide an omni-channel experience that makes the best of your promotions and discounts.

Stock, Board and Shoot Stock your products in enough quantities so you don’t have to display ‘out of stock’. Forecast your demands and needs and order your items in advance. Also, make arrangements for additional deliveries. Bring on board those gift-cards and design your website in such a way that buyers can avail the cards with minimum number of clicks. And finally, attract your customers through irresistible email campaigns and personalize to your customer needs.

Score Well through Optimized Check Outs Almost one-third people abandon cards because of complex check out process. Make check-out an easy and fun experience that would convince them to shop again with you. Add a progress bar that informs your customer about the steps that come next in the checkout process. Also, avoid asking too many questions during the checkout and stick to only potential details that are essentials for completing your sale successfully.

Follow the above-mentioned tips to increase your holiday season sales this year.

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Connect, Engage, and Convert your Audience with Powerful Content across Platforms

Content is still king in a digital landscape. Powerful and compelling copy is key to driving interaction and engagement with your target audience. However, simply publishing and churning a lot of content will not help promote your brand. In order to stand out in a crowded and an aggressively competitive market, businesses need to have high quality, contextual, compelling and relevant content across channels.

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When you have a business that’s growing and expanding. The temptation to have your own office is strong at this stage and you want to lease your office space. However, it is important to be aware of the many pitfalls that most businesses owners make when leasing for the first time.

Prioritize Budget and Function

Don’t choose a space just because it is pretty, shiny or expensive. Set a realistic budget first and be extra careful if you’re a start-up because you won’t be seeing profits for a considerable time. Opting for high rental rate just to own a beautiful office space may do more harm than good to your business. Remember your customers will come to you because of amazing service, not a plush office.

Be Practical, Not Vain

Many business owners get carried away when considering their own space and let their egos dictate their decisions, resulting in costly errors. Experts believe that instead of paying rent, if you pay more people, your business will have a better chance at earning margins.

Take the Fine Print Seriously

Give due attention to the fine print and be very careful when reviewing the commercial lease terms. Engage an experienced real estate attorney to represent you and seek their help in understanding the full impact and meaning of the terms. Typically, most contracts are drawn with the intention to benefit the landlord and missing the details can cost you dearly.

Consider Both Present and Future

A corporate tenant must carefully consider the present and the future financial status of his business when negotiating a office space lease. Unless he ensures that the terms of lease are in favor of his company’s present financial standing, he runs the risk of overspending. If there is significant success, your lease should allow to expand and in case of failure, the option to sublease should also be provided.

Engage a Broker

Another big mistake people make when leasing a commercial space is having a one-sided lease term that often means overpaying for the rent. Hiring a tenant representation broker can save you thousands of dollars as they understand the market conditions better.

Being aware of the above-mentioned points can help a corporate tenant from entering into a commercial real estate lease agreement that could cause loss to his business. Springbordemploy a wide range of leading Internet-based capabilities, smart tools and technology and expert human resources to provide compelling, business-friendly and client-centric outsourcing services including commercial real estate leasing services. Springbord helps its clients drastically reduce costs, increase productivity, and drive business growth.

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Optimize Real Estate Portfolio Management

Increased complexity of commercial property transactions. A lot of data can and should be included in the Lease abstract. Lease data is critical to the lease administration, management and valuation of commercial real estate portfolio. However, given the increased complexity of commercial property transactions, analysing leases has become an arduous and time-consuming task. Springbord’s lease abstraction service offers an accurate abstract that contains all the information required to efficiently manage a portfolio of properties while optimizing time and effort.

Springbord's team of experts bring high degree of financial acumen and technical competence, simplifying complex lease abstraction process. We collect, standardize, and consolidate hard-to-find and unstructured data and convert them in user-friendly format, making analysis easier, simpler, and faster.

Lease analysis : Identify risk factors and offer valuable insight into key relationship drivers.

Tenant-wide risk exposure assessment : Track exposure levels of tenants across leased property holdings.

Geographic exposure assessment : Record, track and compare pros and cons of owning properties in a particular state or country with your current portfolio of owned properties.

Lease expiration alerts: Monitor lease arrangements that are due to expire in the same time frame. We calculate the estimated loss of revenue associated with contracts that are not renewed or tenants who are not replaced.

Differential rent analysis : Keep track of the varying rent levels which are being paid by occupants living in the same property. We also provide renewal and vacancy statistics.

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It is the era of ecommerce where Amazon alone is recording net revenue of $177.87 billion, while the industry itself has experienced almost 25% growth worldwide. However, despite this growth and the promise of opportunity ecommerce holds for entrepreneurs, many end up making costly mistakes. Here are some of the ecommerce essentials that every aspiring ecommerce entrepreneur needs to know:

Building a Pre-launch Audience

Many entrepreneurs wait until the launch of their store before starting their marketing efforts. However, digital marketing often takes time before it starts delivering consistent results. To avoid the web hosting fees and other expenses you might incur before you get the results from marketing, you should build a pre-launch audience. Create buzz and spread the word about your ecommerce services through product giveaways, social media contests and email list sign-ups.

Focusing on the Customer Lifetime Value

The average conversion rate is estimated to be around 1-3%; clearly, converting customers is extremely difficult. For your business to run smoothly and give you margins, your average customer will need to spend more than just a few dollars. Your success on this area heavily relies on how focused you are on the customer lifetime value (CLV), and not just the initial sale. Delivering quality customer experience and following up to see if they enjoyed shopping with you will ensure you get the highest CLV. In the long run, increased CLV will cut your cost per conversion and get you lasting sales results.

Make your customers your mouth piece

A strong brand identity ensures you create an emotional connection with your audience. If you’re capable of creating and nurturing strong relationships with your most passionate consumers, you can leverage their passion to spread the word about your store. Don’t shy away from providing some incentives to your loyal customers in exchange of a testimonial or feedback. Make them feel like your ‘brand ambassadors’ and treat them with respect and enthusiasm and you are assured of some high-quality brand promotion.

Explore the power of remarketing

Studies suggest that repeat customers aren’t only more likely to buy from you again (60 to 70 percent chance) but also inclined towards spending more. These numbers easily outperform ecommerce’s typical conversion rate. Ensure your Facebook and AdWords campaigns target those customers who have already visited your site and harvest better marketing ROI.

Final Word

Building a successful ecommerce brand isn’t easy. However, by incorporating the knowledge gained from successful marketers, you can create a strong brand identity.

From catalog, taxonomy, product and price management to consulting, content writing, SEO and image processing, Springbord helps you manage your ecommerce business at every step of the way and drive increased traffic to your website. To learn more about how we can help you manage and simplify complex ecommerce management services, Talk To us Today!

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The lure of Amazon is strong for both buyers and sellers. While it is easier to buy products, to sell on the e-commerce site is lot tougher. It doesn’t help that Amazon constantly takes steps to ensure that launching of new products and ranking them basis use of keywords are difficult. So how does an Amazon seller edge past the competition and stay ahead of the curve? Read more at: https://bit.ly/2GANR2v

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Optimize Real Estate Portfolio Management

Increased complexity of commercial property transactions. A lot of data can and should be included in the Lease abstract. Lease data is critical to the lease administration, management and valuation of commercial real estate portfolio. However, given the increased complexity of commercial property transactions, analysing leases has become an arduous and time-consuming task. Springbord’s lease abstraction service offers an accurate abstract that contains all the information required to efficiently manage a portfolio of properties while optimizing time and effort.

Springbord's team of experts bring high degree of financial acumen and technical competence, simplifying complex lease abstraction process. We collect, standardize, and consolidate hard-to-find and unstructured data and convert them in user-friendly format, making analysis easier, simpler, and faster.

Lease analysis : Identify risk factors and offer valuable insight into key relationship drivers.

Tenant-wide risk exposure assessment : Track exposure levels of tenants across leased property holdings.

Geographic exposure assessment : Record, track and compare pros and cons of owning properties in a particular state or country with your current portfolio of owned properties.

Lease expiration alerts: Monitor lease arrangements that are due to expire in the same time frame. We calculate the estimated loss of revenue associated with contracts that are not renewed or tenants who are not replaced.

Differential rent analysis : Keep track of the varying rent levels which are being paid by occupants living in the same property. We also provide renewal and vacancy statistics.

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We live in an age where countries or regions can go from being ‘safe travel destinations’ to ‘terror prone’ or ‘trouble spots’ in a matter of minutes. Naturally, it has become a high priority for travel companies to act on security and risk management. Given this, business leaders are struggling to ensure the safety of their business travelers through comprehensive duty of care programs. Additionally, enterprises with aspirations of global growth markets need to send their A-teams abroad, however, the latter’s willingness to go is swindling rapidly in the scenario of geopolitical uncertainties and natural disasters.

Demand for Travel Risk Management

According to an Ipsos MORI Institute survey, about 72% believe the risk of travel to be distinctly heightened. As a result, major companies are increasing their investment in travel risk management: according to BTN, over 82% of companies with annual travel expenses of over $50 million have increased their focus on this issue – while the figure is only 52 percent among companies with travel expenses less than $10 million.

Travel Data Aggregation as a Means for Travel Risk Management

Travel industry experts believe that the answer to keeping travelers safe lies in a more methodical and sophisticated approach to handling their data. Most online travel aggregators (OTA) are realizing the benefits of data aggregation and increasingly adopting strategies to that help improving the travel risk management services and ensure duty of care.

Cross-functional strategies for travel risk management:

Data Aggregation Revolutionizes Pre-Trip Travel Risk

Data aggregation has undoubtedly revolutionized the way that travel management companies and OTAs approach pre-trip travel risk briefings. About a third of travel managers surveyed by BTN deploy external Travel Risk Management (TRM) partners to use data aggregation for collating travel risk data from a wide range of sources to create an extensive view of travel risk at any specific location. Clearly, TMCs or OTAs that want to improve their level of travel risk information provided to travelers (corporate or regular) will need to develop their own software or work with a partner to closely and constantly monitor risk-related events, capture and analyze relevant data and report insights to travelers.

How Springbord helps Manage your Online Travel Business

Springbord offers a wide range of flexible and customizable solutions that are designed to meet operational and scalability requirements in your travel business. From extensive and accurate data curation, hotel image sourcing and contextual tagging, comparative price analysis, data migration, tele data collection, and predictive analysis. We help you manage your online travel business at every step of the way and drive increased traffic and conversions for your platform.

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As we enter 2019, real estate industry experts, researchers, and economists focus on the major trends that will dictate the commercial real estate industry in the next twelve months. Here is a quick snapshot of top six trends. Read more at: https://bit.ly/2RLQILQ

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Co-working is on the rise and has been drastically changing the way we use office spaces. It is no longer restricted to startups and small enterprises and is now a hot topic for the entire corporate real estate industry. According to a survey conducted at the CoreNet Global Summit 2018 in Boston, over the span of next five years, corporate real estate professionals are expected to dramatically increase their use of co-working spaces. The survey results also revealed that the percentage of employees at respondents’ organizations using co-working has doubled over the past two years. Read more at:http://bit.ly/2Tqi3zr