The Next Generation of Multifamily Document Management

From paper clips to file folders, and filing cabinets to computer systems, the process of storing, managing and organizing documents is as old as paper itself. And in real estate, managing documents like contracts and vendor agreements is crucial to running a healthy business—especially when you’re dealing with multiple units as multifamily does. It’s precisely why RealPage has put in the time and resources to create an enterprise solution like RealPage Document Director. But is a dedicated document management system for multifamily really necessary? Here are some statistics from AIIM and Ernest & Young that answer with an emphatic “yes!” Percentage of “corporate memory” that exists on paper: 90% The average number of times a document is copied: 19 times The average per-page storage cost: $0.25 The amount companies spend in labor to file one document: $20 How much companies spend in labor to find one document: $120 How much companies spend in labor to reproduce one lost document: $250 As you can see, the time it takes to create, manage and store documents adds up quickly, and it clearly lays out a justification for RealPage’s newest solution for corporate document management. Regardless of the solution you have, here are some questions you should be asking yourself: Do you feel prepared for disaster recovery as it relates to your documents? Do you feel the way you currently store documents is secure? Do you spend a lot of time looking for documents? Do you have a current solution to allow you to quickly give access to someone to specific documents for things like an audit or due diligence? Are you currently paying for a cloud solution to store your corporate documents? Does that solution seem easy to use, fast to search and flexible to meet your needs? Do you have any needs for a workflow to be set up to automatically route certain documents for review and approval? As you browse through the...