ERP for Real Estate Organization
Integrated Project Management, CRM and ERP for Real Estate, Builders, Contractors
When a business grows, complexity grows. With information technology we always try to find out ways to simplify our life and business but no solution will be effective if it is not built on real life business scenarios. Industrial survey shows that, today Real Estate and construction industry is the most unorganized sector and above, this, the Laws of the Land makes it all the more complex. Builders are spending majority of time to solve regulatory issues attached to their projects. Since most of the projects are heavily financed, the builder is always on his foot to collect the money he had invested into the project, hence with sales and marketing activities starts simultaneously with project initiation. Now, maintaining and following with enquiries and prospects is another mammoth task because sale and purchase in real estate involves N number of documentation and regulations. Mega projects generally take more than a year to complete as a result of budgets and estimations are always misfired due to inflation and project escalation. Keeping track of project milestones and price variation is a difficult task without proper system especially when the company is running multiple projects.
Need for an integrated, comprehensive solution to address such needs have inspired Sage Software Solutions to develop a single platform solution which takes care of land management and development, project management, inventory management & costing, sales management, credit control and documentation in a single ERP for Real Estate Organization. This solution is developed to handle front office and back office operation on single platform. This means that now the CXOs can remotely access his office where he can view and review status and stages of his ongoing projects and have a complete control. An enterprise solution can benefit a real estate company in;-
Regulatory & Document Management – Complex and stringent laws and regulations makes it difficult to maintain documents and legal proceeding during the initial stage of the project, be it commercial or residential. This results in dependency on specialized resources, a time consuming activity. Project estimation is majorly affected by time factor and delays at any stage and can affect the profitability of the project. Workflow based document management handles the critical documents and legal procedure by its own, eliminating resource dependency.
Land Management & Development – Land procurement and development involves legal activities. Since these proceedings varies from case to case, involvement of legal cell is inevitable but management at any point of time is unable to anticipate the time line between land identification and project kick start because of unavailability of information. An on screen, on demand detailed information to the management helps to plan the further course of action on project.
Project Management – Pricing strategy on any project depends majorly on total project cost estimation. Prime focus of the project manager will be to finish the project on budgeted time and within budgeted cost so that profitability can be maintained. Sometimes it becomes difficult to allocate certain common cost during the project hence project variance report may not be full proof. Project and Job Costing addresses this issue and allocate cost accordingly. Thus management at any given point can view the cost incurred at project level which can be again drilled down till single unit level.
Customer Management – Investment in real estate is common among High Net-worth Individual (HNI), developers often see customers repeatedly coming back to them during new projects. Keeping track of such customers and floating information to this group is a major task today. Customer Relationship Management helps the organization to achieve customer satisfaction and customer delight through such automated services.
Sales Management – Sales lead time in any project is longer thus sales team has to maintain prospect’s information from day of project or scheme declaration till handover of last unit. A sale in real estate is not just a sale of one unit but it involves customer servicing, document management, legal contracting, etc. Sale automation help the executives and managers to see the prospect pipeline at any point of time and take appropriate timely action to close the deal.
So to conclude, Sage Software Solutions Pvt. Ltd. has leveraged the functionalities of Sage products to address the need of the industry and developed an industry specific solution for real estate industry especially for small and medium players because affordability is also considered while designing this solutions.