Software firm says technology can help agencies become sale-ready

Property software provider, Veco, says agencies looking to grow, or eventually sell, should consider whether their systems and processes can stand up to buyer scrutiny.

The company says its Veco Plus platform is designed to help agencies build more scalable operations by bringing sales, lettings, property management and client accounting into one system.

According to Veco, areas such as compliance records, financial data and reliance on individual employees are among the operational considerations that can become important during due diligence.

Building a scalable operation

Veco says its software has supported property managers growing portfolios from hundreds to tens of thousands of properties over three decades, allowing agencies to scale without necessarily having to change systems.

Its client accounting system uses double-entry bookkeeping, while compliance workflows track deadlines and inspections and notify agents before action is required, creating an auditable record.

Richard Murray, CEO of Veco, said: “Buyers look at more than the numbers. They want compliance kept up properly and a business that doesn’t depend on one person. That’s what trips agencies up when they try to sell.”

The company also says keeping sales, lettings, property management and accounting data within one system can improve consistency and make information easier to access during due diligence.

Automation is another focus, with Veco’s Automate Plus platform designed to reduce manual processes and allow property managers to handle larger portfolios.

Murray added: “We see ourselves as a long-term partner for agency owners, from the early stages of professionalising the business through to a possible exit. Getting the operational side right is what creates that flexibility.”

Veco says its customers range from independent agencies looking to professionalise their operations to larger multi-branch businesses and has supported agencies including Linley & Simpson, Gibbs Gillespie, Northfields and Ocean over its 30-year history.