In this article, we’ll provide you with three tips to help drive efficiency and accuracy in your tower leasing business by using the right technology.
An essential part of tower leasing is accurately and efficiently managing your leases across multiple sites while complying with accounting standards. This becomes incredibly difficult when you have to depend on disparate systems to see financial, operational, sales, and leasing data.
Multiple systems equate to lower collaboration, greater complexity, higher inefficiency, and ultimately increased risk throughout your entire organization. You might spend more time managing an inefficient system and preparing for audits, and less time analyzing deep insights.
This is backward. Push your organization to implement a centralized business application and connect all the siloed systems. Determine the insights you need to make smarter decisions as a unified team and capture the essential data in one dashboard that helps you understand cash flow by tower lease, or track historical revenue for profitability analysis.
Your finance team needs real-time visibility to manage your leases, to access information such as the calculation of schedules and disclosure reports, and to track lease activity by tower and location. Having access to real-time data is a huge win. Consider the potential when employees have immediate access to key information and data. No longer are they exporting and importing data from one system to another. Instead, they are analyzing upcoming lease changes, lease revenue forecasts, index rate impacts, and other areas that can affect your bottom line.
Replacing your legacy tools with an end-to-end business application will dramatically reduce duplicate work, costly errors, time waiting for reports, and the stress that comes with all of those things.
Technology that fits your business needs and stays current is a critical foundation of your success. Working with an outdated system is frustrating when it limits growth and stifles organizational productivity. Eventually, it can become a ceiling to your business growth and create unwanted stress. You and your team need the confidence that your technology will adapt with your needs and grow with you. Whether you are expanding geographically, acquiring new business, or staying ahead of the competition, it’s crucial your technology can keep up.
A high-level view of your tower leasing business doesn’t have to leave you in the dark. When you have the right technology to give you real-time data and forecasting, you and your team can take the driver’s seat and lead your business into a brighter future.
