Having the right technology to manage your commercial portfolio can be a game changer. Whether it's property management, loan servicing, tenant relations, or financial analysis, an elemental financial technology solution can make all the difference in ensuring operational efficiency and business growth.

As businesses evaluate their options, many face a pivotal decision: should they buy an existing solution, or should they build one in-house?

Let’s break it down – here are some factors to consider:

The Time Factor:

In today’s rapidly evolving tech landscape, speed matters. Developing a fintech solution from scratch is a time-consuming process. Custom building requires extensive planning, resources, and development time—often stretching into months or even years. By the time a built-from-scratch system is ready to launch, the technology may already be outdated or eclipsed by market innovations.

The commercial real estate market moves fast, and businesses that spend years building internal tools can find themselves at a disadvantage compared to competitors who have adopted cutting-edge solutions more quickly.

Latest and Greatest:

One of the biggest pitfalls of building technology in-house is the risk of obsolescence. The technology landscape evolves rapidly, with new capabilities, updates, and security standards emerging regularly. When you’re building a proprietary fintech solution, the risk of falling behind is significant. By the time your in-house development team has completed the project, the fintech landscape may have shifted, and your technology could be outdated or lacking critical features.

On the other hand, when you purchase a best-in-class fintech solution, you’re buying into a platform that is continuously updated and optimized by a team of specialists who are dedicated to staying ahead of industry trends. These ongoing updates ensure that your technology remains modern, secure, and aligned with the evolving needs of the commercial real estate market.

Access to Expertise and Resources:

When you opt for an existing platform, you're often not just purchasing software—you’re gaining access to an entire ecosystem of experts. The best fintech providers have teams of subject matter experts dedicated to product development, user experience, and market trends. These experts continuously refine the software to ensure it meets the unique needs of the commercial real estate industry.

Additionally, purchasing a fintech solution comes with built-in support. This includes dedicated customer success teams that help you maximize the software’s potential and ensure it integrates seamlessly into your existing systems. With a team of experts at your disposal, you’re not alone in your technology journey—you have access to specialized knowledge that can help your portfolio thrive.

The Final Verdict: Buy, Don’t Build

When it comes to supporting your commercial real estate portfolio with fintech, buying a best-in-class solution is often the smartest and most efficient choice. It saves time, provides access to continuous updates, offers expert support, and delivers faster ROI. The commercial real estate market is too competitive and fast-moving to risk being left behind with outdated or incomplete technology.

Varro's suite of products and services provides automated and transparent management around the inspection process of your commercial assets.  Products are designed to mitigate risk and enhance operational efficiency. Varro utilizes the most powerful artificial intelligence and machine learning systems available to allow clients to automate the routine, and humanize the exception.