How Can A Specialised Real Estate ERP Benefit Your Business

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Real Estate ERP

Real estate ERP solutions introduce greater transparency into construction operations, while enhancing productivity, process efficiency, and team collaboration. With consumer demand rising 30-40% in the past few months, real estate developers are leveraging comprehensive ERP solutions to expedite under-construction projects across markets.

Construction project managers also benefit by gaining access to business intelligence and analytics tools, while having a better control over planning, forecasting and procurement. Execution teams can also update the latest status of the project via mobile apps and empower project managers to make real-time decisions easily. Listed below are the key reasons why real estate ERP software and solutions are important for your construction company:

  1. Greater standardization in construction operations

    Standardization enables construction enterprises to focus on streamlining operations and enhancing execution quality for timely project completion. Real estate ERP solutions enable standardized processes and workflows that allows execution teams and managers to be aligned better to their project goals.

    Additionally, ERP solutions also enhance project planning, through standardized material lists, coefficients, and technical information, enabling teams to refine cost planning and budgeting for greater cost control.

    Automation is a key driver of standardization within construction enterprises, reducing the risk of human errors, process gaps, and project delays. Real estate ERP platforms incorporate automated solutions that streamline inventory updating, progress reporting, approvals management, and other key processes for greater process efficiency.

  2. Better monitoring and tracking of project progress

    About 80% of prospective home buyers prefer a ready-to-move option or a project that will be completed in the next 12 months. Construction firms can expedite development on on-going projects, with end-to-end monitoring and tracking to facilitate timely completion. With progress management, material management, and KPI-based reporting tools, real estate ERP solutions provide detailed information to project managers across their portfolio.

  3. Unified platform for streamlined execution

    Construction firms leveraging distinct single-use solutions, such as spreadsheets, chat applications, and online drives, can face problems with interoperability, platform incompatibility, and data version errors. That is why construction companies opt for a unified ERP solution that incorporates key features that are industry-oriented and designed for operational efficiencies.

    A comprehensive real estate ERP solution can optimize time and resource allocation to manage complex applications used by project teams. Video communication, image sharing, Excel files, online documentation, cloud databases, varied project management tools, and document management apps can be easily substituted by a robust ERP platform. The time saving and process efficiency driven by real estate ERP solutions are a significant reason behind their global adoption.

  4. Greater collaboration through streamlined communication

    As enterprises scale-up, the number of employees, managers, vendors, and suppliers increase, along with their scope. This puts a significant strain on ensuring timely and accurate communication between users, while driving collaboration-based innovations for project execution. With the help of real estate ERP solutions, project teams can seamlessly communicate with each other while executing projects efficiently. This effectively eliminates team silos and communication gaps, that can occur during the project lifecycle.

  5. Data-driven efficiencies across construction projects

    A secure data management system is key to scaling up, as project data gets updated throughout the construction lifecycle. Real-estate firms leveraging a robust ERP system can store their enterprise data within the secure platform seamlessly. Users can access project BOQs, estimates, and material lists, for accurate future bidding, better budgeting, and faster estimation purposes. Project managers can also make real-time project decisions across their portfolio, through greater access to process-level data and detailed project updates.

In conclusion
A robust ERP solution is designed to expedite project progress, while ensuring process efficiencies across planning, procurement, inventory management, and reporting. Construction project managers can ensure adherence to budget and timeline schedules, while minimizing overruns, materials unavailability, data ambiguity, and document mismanagement. BuildSupply ERP is the complete end-to-end project management platform that construction firms need, to streamline operations and have complete control over project delivery.

Reference links:
https://buildsupply.com/
https://www.ijtra.com/view/effective-implementation-of-erp-in-infrastructure-construction-industry.pdf?paper=effective-
https://www.researchgate.net/publication/334372698_Impact_of_Enterprise_Resource_Planning_ERP_Systems_to_the_Construction_Industry
https://www.financialexpress.com/industry/upbeat-on-commercial-real-estate-to-invest-rs-7000-crore-for-developing-12-million-sq-ft-purvankara-md-ashish/2095431/
https://www.thehindubusinessline.com/info-tech/covid-19-effect-more-indian-cos-refreshing-their-erp-systems/article32569515.ece
https://timesofindia.indiatimes.com/business/india-business/demand-for-residential-real-estate-surpasses-pre-covid-levels-magicbricks-propindex/articleshow/78577068.cms
https://www.constructionweekonline.in/people/15282-real-estate-to-re-emerge-in-the-post-covid-19-scenario-dudeja
https://www.financialexpress.com/money/transparency-in-real-estate-improves-but-is-that-enough-for-homebuyers-and-developers/2051603/
https://www.bain.com/insights/residential-real-estate-in-india/
https://www.business-standard.com/article/companies/indian-firms-did-well-against-cyberattacks-after-chaos-amid-lockdown-ey-120090600426_1.html
https://www.businesstoday.in/magazine/technology/real-ty-intelligence/story/393315.html
https://www.newindianexpress.com/cities/chennai/2020/oct/10/chennai-developers-way-ahead-of-other-cities-in-completing-housing-projects-2208300.html

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