When it comes to getting their agents to adapt to and adopt new technology, many brokers tend to face the same challenges. In fact, we are often asked by our clients about the latest and greatest in technology.
They want to know which technologies are worth adopting and putting into practice — and, just as importantly, which of them aren’t. And when it comes down to it, these are the challenges that brokers face when trying to get their agents to adapt to the new technology that is being added to their brokerage.
Most Common Challenges In Technology Adoption
In helping our customers incorporate their new technology, we have taken note of many of the common challenges they run into. Keep in mind that many businesses will face the same problems, and will often need to take on a new or different perspective to overcome them.
Adoption of New Technology
Any new system or technology that is adopted by your company will require some form of training in order for your employees and staff to use it. And, as you’ve no doubt experienced before, just because the new technology is similar to something you’ve used in the past, or it claims to be intuitive or user friendly, does not take away the need for sufficient training.
Training can be a significant time requirement and, unfortunately, an area in which some businesses tend to get cold feet and shy away after spending so much on the technology itself. To make sure you avoid this common trap, include costs and time involved training into your estimates before you adopt the technology, and then be sure to follow through with the necessary training.
Integrating with Legacy Systems
In order to reach its full potential, new technology must successfully be integrated into an organization’s current businesses processes and systems. In other words, simply buying the new technology is not enough. After the purchase, an organization’s existing procedures and systems need to be adjusted in order to incorporate the new technology in a way that minimizes disruption and limits the need for additional training — while still taking advantage of all that the new technology has to offer. Before the purchase, a thorough review of existing database structures should be completed and compared to new technologies under consideration, so a proper evaluation of migrating the company’s historical data can be assessed.
Integration Capability of New Technology & Migration of Historical Data
Buy in is the single most critical aspect of automating your back office operations. Best practices have shown that creating a plan that will allow automation to occur in phases will help increase overall acceptance. Additionally, going live with any new technology at the beginning of a fiscal period can often help to minimize disruption and help streamline workflow.
Automating and mapping out your current operational workflow and then comparing it to industry best practices is a great first step. Realistically there is no perfect time to update older operational bottlenecks, you must take precautions and be thorough in creating an efficient road-map to accomplish the task.
Other questions to keep in mind as you implement and automate your back office operation is whether to utilize a desktop application or a cloud-based server application. Cost and security are typically the factors that will dictate these decisions, and there are advantages and disadvantages to both.
To find out how you can use technology to simplify your CRE back office by managing receivables, commission plans, invoicing and agent distributions, please sign up for our blog and learn why Techstars Atlanta has selected CommissionTrac as their first CRE application for their intense 90 day mentorship program joint ventured with Cox Communications.