Effective land asset management is about making smart decisions to maximize value. But many of today’s asset managers lack the tools to make this possible. In this post, we review four easy steps to modernizing your land asset management systems.
Integrate Data Sources
Land asset management is a specialized industry that relies on and works with unique data sources. In a given day, land management companies might use data for GIS forestry, to manage property taxes, land records and more.
The problem land management companies have is that their data is often siloed and incompatible across the different applications that are supposed to help manage it. This makes it easy to miss key insights and sometimes makes analysis impossible.
For example, being able to integrate important documents with spatial and visual data can be a big advantage when it comes to areas such as land records due diligence, property taxes, inventory control and more.
It also reduces manual effort. Transferring data across multiple systems is time-consuming and error prone. You can automate most of this work through direct integrations that populate your valuable data in all the systems you use.
This makes the sharing, storage and analysis of land asset data more accessible than ever.
Solve Problems With Technology Solutions
It’s important to first identify your technology pain points before devising a plan of attack. Understanding the technical challenges will allow you to narrow down the right solutions.
Once you’ve integrated your data, you’ll need applications to analyze it. Most land management companies have both modern and legacy systems. Modernizing this type of environment requires two steps.
First, you’ll need to assess your legacy systems to better address your current business problems. You’ll either need to extensively update your applications, replace them entirely or some combination of both.
For example, many land asset managers are in the process of replacing their home-grown, server-based GIS applications with cloud-based GIS solutions from technology providers. These modern GIS solutions provide the same power as legacy GIS systems, but with a greater degree of flexibility, speed and cost effectiveness. Additionally, cloud storage solutions provide greater levels of security for your data.
Second, you’ll need to deploy new solutions that solve problems your current system doesn’t address. Say, for example, you’re already having your land asset transactions processed in a GIS due diligence application like LITAS. Integrating a cloud-based land records management platform will further streamline your transactions while alleviating the burden of hosting these files in your IT environment.
Once you’ve modernized the applications you’re using, you might realize there are certain problems you can’t solve with an off-the-shelf application. In this case, custom application development can help you address the exact needs of your specific business or project. This allows you to further optimize your management workflow by improving data management, analysis, customer communication and more.
However, as you’re refreshing your applications, it’s worth being mindful of how those solutions will work together:
- How will the applications share data?
- Do they provide unnecessary redundancies?
- Are they even compatible?
Ensuring system compatibility provides a number of benefits, including reducing manual effort and unforeseen system errors. It also ensures you don’t discover incompatibility in your systems before it’s too late.
To address this issue, Orbis began creating and offering integrated service models. For example, Orbis recently implemented an integrated service model with Esri and F4 Tech, to create a total and integrated land asset solution for clients. The cloud-based partnership provides software solutions from Orbis’ proprietary services, Esri’s advanced GIS and spatial analytics and F4 Tech’s inventory data software. More similar partnerships are underway with industry-leading service providers.
Transition to the Cloud
Most land asset systems are either hosted via in-house servers or on cloud platforms. For asset managers looking to modernize their systems, cloud migration is an essential step.
One which offers a number of benefits:
- Better security
- Greater flexibility
- No manual backups
- No in-house maintenance
- 24/7 access to applications
- Easier storage and access to data
A cloud migration entails moving all your infrastructure, data and applications to a new environment. Doing this is complex and time-consuming. Technology companies like Microsoft and Esri do have tools to facilitate this process. And while this does streamline the migration, there still needs to be a team to do the work and make sure everything ends up in the right place, and in the right coding language.
Because of this, most firms work with a partner experienced in project management and cloud migration to ensure a smooth transition process.
Work With a Systems Integrator
By now, you might be thinking that system modernization is an overwhelming process. And between integrating data sources, deploying new solutions and migrating your entire business to the cloud, there are certainly a lot of moving parts. Engaging technology consultants makes the process easier.
A systems integrator like Orbis brings together various technologies, often from different providers, to create one solution that can address all your needs.
The integration process simplifies systems modernization and provides a streamlined, comprehensive way to manage land asset data.
The future of land asset management is making decisions with modern, cutting-edge tools. Reinventing the technology you use every day will involve rethinking the way you analyze, host and manage your data. For many firms, working with a systems integrator can make the process much easier.