Opt to Adopt: How to Drive the Adoption of Your Multifamily Tech Stack Jan 30, 2018 In our last post in this series, we explored how you can gather tech requirements for your multifamily tech stack and assemble a team to manage it. Now, it’s time to walk the walk. How? By driving company-wide adoption of your new multifamily tech stack. Let’s find out how. Adoption vs. Training Oftentimes, companies overlook the importance of adoption management, which refers to the process of ensuring that new technologies are adopted and old ways of thinking and operating are changed. One main reason for this is that many companies view training exercises as being synonymous with adoption. However, that’s not typically the case: there are a few key differences between training and adoption. Training exercises emphasize short-term goals, technical details and individual success. On the other hand, adoption management emphasizes long-term goals, big-picture concepts and company-wide success. Smart companies go beyond training exercises by measuring adoption with metrics based on business outcomes, such as productivity and revenue growth. Preparation is Key Successful companies are always prepared to adapt, and anticipate that product rollouts will come with unexpected challenges. This way, they’re ready to tackle tech adoption as an iterative process, and can quickly respond to obstacles as they arise. Why is it so important for companies to anticipate obstacles? Because, whether we like it or not, they’re inevitable. Everything from generational differences to differing learning styles can affect tech adoption. In a survey conducted by NREI and Coldwell Banker, it was discovered that while 65 percent of workers under the age of 45 think tech adoption in the real estate industry is lagging, 68 percent of workers over the age of 45 think the current rate of adoption is acceptable: However, while different generations may disagree on whether interpersonal skills or technological skills are more important, all can agree that tech is crucial to the success of the industry: This is reinforced by a survey from “MIT Sloan Management Review” and Capgemini Consulting, which revealed that 78 percent of executives and managers believe that achieving digital transformation will become critical to their organization within the next two years. Thus, it makes sense that the most successful companies approach adoption management as an adaptable process rather than a fixed schedule, and measure the progress of adoption by observable outcomes rather than the completion of one-time training programs. The Bottom Line Over the course of this series, you’ve learned how to: Secure buy-in Identify your requirements Drive adoption through your entire organization To get a more in-depth look at the process of building a state-of-the-art tech stack, check out our “The Playbook: Building a Multifamily Tech Stack” ebook. Go Recent Post All Aboard! Overcoming Onboarding Challenges in a Multifamily Tech Purchase 3 Ways Technology is Transforming the Day-to-Day Operations of an Asset Manager The Day in the Life of An Asset Manager Subscribe Tell us your email address and we'll add you to the list. Subscribe If you are human, leave this field blank.