VTS - A help to the growth of our leasing production
Pros
- Pipeline activity tracking - real time information at every user's fingertips.
- Deal analytics - provides quick computations on key deal metrics. If all of the data is entered in, the work that used to be done manually or not at all appears immediately, so assessments and adjustments can be made quickly.
- History of the deal - each note or proposal is stored in a single place, where it can be referenced, which can be a big help on deals that are complicated and have a great deal of back and forth. You don't have to search through emails in a folder.
- Tenant Relationship Manager puts all of the leases and deals with a given tenant on a single page, so you can quickly see information on your key tenants, when current leases expire, and what deals are in the pipeline.
Cons
- VTS is still growing in its features on retail properties. As a product that originated in the office and broker world, it has had a learning curve for shoppiong centers. It has made great progress in the 2+ years we've been on the system, and there is more to come.
- The defaults for the dashboards go into a longer time frame than how we look at production and leasing activity. We are year-to-date driven, and that view isn't readily available on the dashboards.
- We are still working on getting Deal Approval flow active in our organization. We have a two-round approval process, and VTS currently is structured for a single approval round. We are finding ways to make it work, but it's still a workaround.
Return on Investment
- We believe that VTS has improved our cycle times from prospect to tenant, which leads to rents being received sooner.
- VTS has organized the work of our Leasing Representatives. They no longer have to operate from spiral notebooks and Post-it Notes to keep track of their deals.
- By needing less meeting time, the Leasing Reps can spend more time prospecting and working deals, and less times repeating information.
Other Software Used
Microsoft 365 Business
