Building a Digital Backbone to Resilience in the Property Industry

Frasers Property has maintained a longstanding commitment to honesty and transparency, which has been greatly enabled through the power of data analytics.

Using digital technology platforms, we’re able to link internal financials and operations, ensure cashflow, and forecast with data-backed insights. This has been hugely beneficial since we implemented SAP across our business in 2012.

Today, this same level of transparency is vital because it underpins every experience across the business, from customers to staff and supply partners. As a business embedded with robust systems and data analytics, we can enable all our stakeholders during this current crisis, offering them flexibility and clear communication to ensure everyone’s safety.

Data supports every aspect of our business – it helps manage various scenarios, navigate through challenges, anticipate changes, and communicate the right story to our staff and customers. We can also gain a far more comprehensive understanding of the experiences of our employees and our market.

Equipped with an understanding of our customers’ preferences and employees’ expectations – and the digital support that connects these different data sets – Fraser Property can move with agility, even during times of uncertainty. Learn more about our story from the recent 2020 Adaptive Strategies in a Changed World virtual industry forum.

Navigating Through COVID-19
Since we invested early in remote-working technology, digital platforms, and a flexible work culture, we’ve been able to smoothly transition to the new model of working and minimise the risk to our employees.

I anticipate business everywhere will be offering more flexible work environments post COVID-19, finding the best way to support staff while striking a balance between workplace productivity and social interaction.

We’ve already seen some staff members express a yearning to return, missing the cohesion between employees that is more difficult to capture on a screen or phone call. It’s a matter of finding the right mix of social, technology, and efficiency.

The property industry should be providing greater flexibility to staff and customers. Within Fraser Property, SAP digital platforms have heightened our customer interaction and simplified their experience with our business. We can offer them the right tools to connect with us, book appointments, and manages essential services at their convenience.

What we’ve seen so far is that people still often prefer visiting our sales centres rather than video conference. And this is entirely understandable in the property industry. Property is often the biggest investment most people make, which requires a significant amount of trust. The tactility of property is critical in being able to establish and maintain that trust.

Our business is seeing a rekindling appreciation for tactility and physical – both internally and externally. Staff miss the camaraderie of the physical office environment and customers still want to speak with us face-to-face. Given the current circumstances, it’s about being responsible and flexible to suit everyone’s needs and preferences – striking the balance between digital and social.

Evolving Under Crisis
The current pandemic is having massive effects across different industries, but it should give a lot of business a chance to re-evaluate things, gain a better understanding of what’s most critical, and ensure that staff and customers receive the support they need.

The data that we collect during this turbulent time will help use build resilience, adapt to the current crisis, and understand how to move forward with the right solutions.

This is the time to understand what staff and customers need to be safe and still connect with businesses. While we should maintain a focus on people, there’s no reason companies can’t emerge stronger with the support of digital technology platforms and data analytics.

Our continuing reliance of data has not only helped Fraser Property adapt during these circumstance, but helped us refine our business for years – finding new ways to be more efficient, better connected, and more agile. SAP solutions have given us transparency throughout our business, supply networks, and customer market. This foresight is vital now, more than ever, and will continue supporting every element of our organisation.

Watch the on-demand replay of 2020 Adaptive Strategies in a Changed World Virtual Industry Forum to learn more how the property sector is adapting to these changing times.