Rafael Palluch, CEO Daniel Kim, CTO
Even in the current digital era, many real estate companies are still deemed tech-averse. But why do these real estate companies remain manual process-dependent despite understanding the advantage of digital tools? As it turns out, the reluctance stems from the traditional status quo of the real estate sector. Individuals working in the real estate sector are not typically well-equipped with various market-available technologies and their overarching business benefits. Adding to the woe is the fact that most of the off-the-shelf digital solutions are not fine-tuned for the real estate sector in particular. So even when they plan on investing in the latest technologies and adopting those for their workflows, they have to go through a lot of trial and error before finding the ideal technological solution. And this is precisely why real estate digitalisation endeavours are far from simple.
“If real estate businesses don’t assess their technology investments properly, they can’t ompletely remove the existing operational inefficiencies from their technology stack,” shares Rafael Palluch, CEO of FLOWFACT and a renowned thought leader in the real estate space. Now, if real estate businesses are to fix the inefficiencies coded in their technology stack—either by themselves or with external help—they risk incurring an unnecessary (colossal) capital cost. “As a result, the digital transformation initiative often turns out to be a major inconvenience for the real estate businesses that ultimately makes these entities tech-averse in the long run,” opines Palluch.
But as Palluch notes, the digital journey for real estate businesses doesn’t have to be a complicated and discouraging endeavour.
“To simplify the digital transformation of the real estate sector and make it accessible to all, we provide a no-code/low-code platform that helps real estate businesses unify their customer and employee journeys seamlessly,” highlights Palluch.
FLOWFACT platform is a very powerful yet easy-to use system that understands idiosyncratic real estate functions natively. Besides, the FLOWFACT platform acts as an experience hub, reflecting the company’s best thinking around the intersection of asset classes and CRM. Since the different workflows of real estate businesses are pre-mapped to specific technology stacks within the platform, all a real estate business needs to do is define the journeys (or flow) they are looking for. “With such ease of use, real estate businesses can easily create an outstanding customer as well as employee experience without needing dedicated technical knowledge,” notes Palluch. Not only can FLOWFACT users leverage the platform to design and deliver a new workflow or employee/customer experience, but they can also choose different data sources, reporting metrics, and dashboards according to their application needs. “In this regard, you can think of the FLOWFACT platform as Microsoft Power Apps, the famous low-code platform for developing enterprise apps. The difference? We work specifically for the real estate industry,” Palluch adds.
Going a step further, FLOWFACT also has provisions for significant customisation of its low-code platform. Real estate businesses can fully define their data model or modify FLOWFACT’s template data models to cover several asset classes and multiple activities such as brokerage or advisory. Users can even attach new interfaces to sales funnels and pipelines to help guide both consumers and employees alike. Through this, businesses can seamlessly integrate automated actions like portal insertions, generation of investor memorandums, ownership reports, portfolio performance, lead routing, etc., into their workflow. “Not just that! You can use our powerful APIs to connect FLOWFACT with your existing IT asset,” highlights Palluch.
Proven Instance of FLOWFACT’s Competencies
One of FLOWFACT’s customers recently engaged in commercial brokerage and wanted to redefine how they engaged with their customers. The client was specifically looking to replace the disjointed customer touchpoints with a unified and seamless experience. They used FLOWFACT to define their consumer journey and align their end-user experience with how their employees operate. “Thus, they were able to align their culture with how they drove value for customers, supported by a robust IT backbone provided by FLOWFACT,” mentions Daniel Kim, CTO of FLOWFACT.
Moving ahead with many similar success stories under its hood, FLOWFACT is currently looking to expand its business by tapping into more real estate clients and, at the same time, by enhancing its technical capabilities. “The coming months look promising for FLOWFACT. We have multiple mergers and acquisitions with other key technology providers of the proptech arena planned to expand our capabilities further and reach out to more prominent real estate companies than we are currently serving,” concludes Palluch.