Top 8 Benefits of ERP Software in the Real Estate Industry
To eliminate human blunders and slower productivity that occur in the real estate & construction business processes, Enterprise Resource Planning (ERP) software needs to be integrated. ERP streamlines and automates all business processes such as sales, HR, procurement, inventory, etc., with the help of the latest technology to provide insightful and meaningful real-time data.
Table of Contents
1. Automation of Manual Tasks
An ERP software can help to automate traditional business processes and boost the productivity of the employees in an organisation.
For instance, if the marketing department has to wait for the customer data from the sales department, to implement new marketing strategies, it slows down the overall productivity of the process.
With an ERP system in place, all the relevant data can be stored and updated in one centralised platform that is accessible to everyone. Utilising the best ERP software eliminates manual tracking of the data, breaks the traditional silos within an organisation, and improves the efficiency of the business processes.
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2. Centralized Data Storage and Management
Every business process involved in a real estate or construction project must take place concurrently to complete the project. To facilitate this, ERP software provides a unified, secured platform for easy storage and management of the data. Business owners can dynamically track and analyse the project data which aids them to calculate the financial costs incurred accurately. The simultaneous and efficient tracking benefits of the ERP software improves project efficiency and productivity.
3. CRM for Effective Sales and Marketing Strategy Implementation
The goal of any real estate or construction business is to deliver quality work and meet customer demands on time. Without utilising the benefits of ERP software, sales, and marketing executives may have a hard time tracking the customer data and implementing effective marketing and sales strategies.
4. Overall Reduction in Project Cost
Customized ERP software can predict accurate project expenditure and the timeline required to complete the project. They ensure that the actual cost of the project does not exceed much of the projected cost. In this way, construction or real estate companies can efficiently utilize the resources and manpower within the allotted budget and time frame.
5. Data-driven Decision Making
ERP software ensures that the users are provided with the data through business intelligence systems which gets updated throughout the project lifecycle in real-time. A business intelligence module provides deep project insights and allows business owners to track the data dynamically. This aids the business owners and project managers to make timely and accurate data-driven decisions.
6. High Return On Investment (ROI)
- Implementing ERP software can incur the following costs: cost of the software, software upgrade investment, consultancy investment, initial implementation cost, and investment in the internal staff.
- A few tangible benefits after the implementation of the ERP software include minimization of the overall operating costs, increased inventory turns or billable hours, and a decrease in material costs.
- A few intangible benefits include improved staff retention, increased efficiency, and strategic planning.
7. Optimized Project Management
Before project initialization, it is necessary to accurately map the resources such as raw materials, labor, engineers, etc that are required for the project completion. A real estate and construction ERP software can be used to track the procurement of the resources and the financial cost incurred during this process. Project managers can effectively allot the budget and allocate the resources using a single platform. Achieving the project deadlines becomes easier with the benefits of ERP software, resulting in increased productivity and cost reduction.
8. Optimized Project Management
Final Thoughts
Our ERP software, In4Suite®, specifically aids real estate developers to overcome business challenges by automating repetitive tasks and tracking the data on a real-time basis. If you are looking for an ERP for your business, talk to our team and know how we can increase your revenue and reduce operational costs.
Varun Surendra Tulsyan
Varun is a Digital Marketer with overall experience of 11 years including experience in B2B marketing for the past 5 years. He is the first hire for marketing at In4Velocity and is obsessed with digital marketing.
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