Real estate companies work in a highly challenging ecosystem. The industry moves at a fast pace and they need to constantly be up-to-date with information. An efficient ERP system can streamline their workflow from lead management to project closure. A web-based ERP system integrated with a CRM system can reduce operating costs, provide holistic view of ongoing projects, facilitate day-to-day management, eliminate wastage and enable decision-making.
Here’s how the real estate vertical can benefit from a robust ERP system:
The lease management module includes flawless analysis of lease requirements, demand-supply graph and occupancy-vacancy metrics. It also includes detailed 360-degree tenant intelligence and management of rent, escalations and renewals. With timely notifications, it keeps track of tenancy checks and lease deposits. Its effective CRM system results in improved tenant satisfaction and higher occupancy rates.
Procurement and inventory management
An ERP system offers real-time integration between finance, material, construction and sales data. It enhances control in inventory procurement and helps avert crisis situations. An ERP system can expedite generation of material requirement planning, preparation of purchase orders, creation of evaluation charts for procurement, maintenance of supplier directory and tracking of material shipments until delivery.
Cloud-enabled ERP systems gather real-time data from accounting, sales and purchase departments and generate error-free reconciliation between materials procured, utilised, work in progress and spill over. Visual dashboards offer clear, concise view of accounts receivable, payable, profit & loss, balance sheet, and trial balance. It also offers insights for project-wise fund planning, tax deduction/payment and regulatory compliances.
(Read more: ORION ERP Financial Management Solutions)
Comprehensive project management can be achieved through speacilised ERP systems for the real estate vertical. It enables project estimation using BOQ and actual cost furnished by sub-contractors. Daily billing and payment to contractors is automated and ongoing bills are maintained methodically. Key cost and progress indicators are also available to help estimate project cost and profitability.
Complaint and maintenance management
This module helps in improving tenant retention rates by triggering ad-hoc and preventive maintenance services of the housing unit according to a set schedule. It maintains system-based complaint management and conflict resolution services.
3i-Infotech’s ORION ERP is a web-based solution for all your real estate business needs. ORION ERP can help maximise your ROI, meet regulatory compliances, gather flawless data insights and make informed business decisions.