Real Estate Development Team Efficiency Tip #6 – Use an Intelligent Document Organization System

Developer Tip

Imagine how much time you could save by eliminating back-and-forth document transfers. Instead, equip your team with an intelligent document organization system to house each document in one location with all the information linked to your budget. This allows your team to easily check budgets, agreements, change orders, invoices, pay applications and lien waivers without breaking stride. No emailing, no digging through outdated spreadsheets and significantly less data entry. Many solutions today even combine artificial intelligence, Optical Character Recognition (OCR) and machine learning to get more and more accurate each time you use them.

Picture a world where you don’t have to organize documents for each draw or manually compare spreadsheets to PDFs. If your team uses the right real estate development management platform you can simply upload documents and let the platform automatically organize and classify documents for you. The documents should be organized within the context of the budget so they are easy to reference rather than siloed in various folders.

The best part of implementing a system like this? No more manual entry switching from document to document or screen to screen. Using the right technology can automatically extract information from documents and put it everywhere that you need it.