Real Estate In India And The Importance Of CRM Solutions

 The Indian Real Estate World

Pundits have countless theories and opinions about the Indian Real Estate world; and many might contradict each other, but one thing that is very clear is that CRM systems are the need of the hour. In 2020, it is common knowledge that customers are the nucleus of any business. But, in today’s extremely competitive Real Estate world, simply targetting and acquiring customers is not enough. Serving your customer base and maintaining a good relationship with them is just as important (if not more). With businesses raising the bar for Customer Relationships Management, it becomes imperative for every business to do the best to maintain an active and pleasant relationship with their customers making them feel valuable.

The Real Estate Market in India certainly has a great deal of demand as people are willing to invest more and more in Real Estate. But this is not translating into an industry boom as efficiently as it should because of a number of challenges present in the industry.

There are quite a few problems that the Indian Real Estate world is facing. This includes problems that can be dealt with, and problems that exist out of human control. The problem that sticks out the most in the industry is probably excessive project delays. The causes for this are of many natures, and every expert will assign a different amount of impact to each cause; nevertheless, this issue is certainly one of the most significant issues if not the most. Then there is the non-availability of land inside the cities, rising property prices, financial changes due to the state of the economy, and unsold inventory. Most of these problems are related to each other and cause more of an impact collectively to the industry.

Before we talk about the role of CRM in Indian Real Estate, it is important to understand what exactly CRM is. This might seem too basic, but the meaning of CRM differs widely for people. There are certain facets one might ignore while thinking of CRM, thereby overlooking some of its crucial elements.

So, what is CRM?

Many may define it as the tool with the technological capabilities to manage an organisation’s interactions and relationship with its customers. But that statement does not quite capture the fullness of what it is. It is a methodology to strengthen relationships with customers and to understand customers better. Essentially, a CRM system is meant to leverage customer relations to the maximum benefit. A proficient CRM Solution should use technology to best serve its customers, gain insights into customer behaviour while ensuring a pleasant experience for customers.

Importance of CRM in the Real Estate world in India

There are a lot of benefits and advantages that CRM provides as most people are aware of, but let us take a look at how exactly CRM proves to be significant in the Real Estate world in India.

• Robust Project Surveillance: As we saw earlier, excessive project delays is arguably the biggest problem being faced by the Real Estate industry in India right now. In such situations, it is imperative to stay on top of things at all times and have complete information about happenings. Equally important is it to ensure that customers have accurate and timely updates of project status, especially in a time where the industry is facing excessive project delays. Efficient transaction records and tracking mechanism will improve the experience for both the customer and the business. It also provides a proficient bidirectional communication channel between the business and the customer.

• Regulatory Compliance: The Real Estate sector in India is taking efforts to ensure better regulation and transparency. A huge step taken in this direction is the introduction of the RERA Act. The Act requires developers and promoters to furnish approvals, details for the land, layouts and other such project details to the regulatory body, as well as the customer. A capable CRM system will play a huge role in ensuring that all these requirements of providing documents and updates are met.

• Grievance Redressal: A major problem plaguing the Real Estate industry in India is the lack of a structured system for addressing customer grievances. Due to this, customers often end up voicing their grievances on social media. CRM solutions provide a structured mechanism for addressing grievances that makes customers feel heard and valued. It also allows the customer to provide feedback, which will add value to the business by pointing out areas of improvement, as well as letting the customers know that their opinion is valued. With businesses across industries providing the best customer experience powered by the latest technologies, customers expectations are set high. In order to meet these expectations and satisfy the customers, Real Estate businesses need to leverage the best of technology to provide around the clock support to customers. A capable CRM system will have provisions to set timelines for addressing queries and issues, as well as a robust system for recording and sharing updates with the customer regarding their reported issue. This goes a long way in ensuring customer satisfaction.

• Efficient execution and transfer of product: A robust CRM solution will ensure reliable bookkeeping. In the Real Estate business, this is crucial as it affects demand letters and other business activities. An efficient record keeping and reporting system with enhanced tracking capabilities will help track payment progress and accordingly ease and smoothen the handover process against payments received.

• Enhanced Reporting: In a market with rapid growth such as Inda’s, it is important to leverage any and all tools at disposal to gain an edge in the industry. It can be said that this is the ideal time for Real Estate businesses in India to invest in capabilities that will help them to stay on top of things and be proactive in strategising. This not-so-fancy seeming capability makes a huge difference in efficiency and driving value.

To summarise, capable CRM solutions are the need of the hour in the Indian Real Estate world. There is no disputing the fact that CRM solutions will add immense value to the Real Estate world in India and boost business. Especially considering the RERA Act and the movement of the industry toward more transparency and better regulations, CRM systems should certainly be on top of the priority lists for Real Estate businesses in India.

In order to leverage a CRM solution for best results, Real Estate businesses should use a CRM solution designed specifically for Real Estate businesses. StrategicERP’s Real Estate CRM is a web and mobile-based end-to-end CRM solution that is tailor-made to meet the needs of Real Estate Developers.

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Right CRM Software for your Real Estate Business

Communication is essential in business, and modernizing communication technologies makes it possible for companies to run more efficiently and strategically. Real Estate, in various ways, has been slow to embrace technologies that are innovative, however, AI and automation have helped streamline jobs such as maintenance procedures and communications. Companies from the property, development and investment management area speak with investors. Interactions with stakeholders are an entirely different ballgame, frequently including urgency and formality.

Investors need a picture of the portfolios also it can be trying for property organizations to give them with it without a great deal of leg work that is guide, tools and time. There are questions on funding yields, monthly billing statements, taxation records, and financials. As there are several moving parts investor connections can be challenging and there is money at stake.

Technology is moving to assist property businesses to boost the bottom line and streamline investment direction communications. However, can you understand exactly what you need in a Real Estate CRM system?

Determine Your Investors' Wants

In implementing those systems A first step would be to ascertain exactly what your investors' needs are. There's often no 1 source of advice for an image of the investments, so investors might wind up asking estate investment direction exactly the questions regarding their own financials. They can be saved a good deal of time by a  CRM system by providing them insights in their investments whenever they desire. It conserves the actual Real estate firms managing to pull on this info, these investments the source-drain.

Sharing land performance is a part of the investor-investment-management connection, and each investor has a curiosity about exactly what performance indicators they wish to see. It might be leasing maintenance action or overall surgeries. These reports take the time to discuss and personalize, therefore it is essential to locate applications that could do so.

Things to Search for in CRM for Real Estate Software

• The program ought to be nimble and easy to implement. Nimble applications are a technology that could effectively accommodate many different requirements, adjust to satisfy those requirements and function more than 1 purpose.

• The program ought to have the ability to fit into your current workflow in order to not interrupt any current business procedures. Locate a solution that's compatible with your existing system there is no need to perform a whole tear and replace. For property professionals, including a new CRM for Real Estate system may lead to more headaches With no compatibility, generating work and tendering procedures.

• The program ought to be user-friendly. You do not need your groups fidgeting around with software which isn't intuitive. It's crucial for approaches to be user-friendly since if they aren't, you are going to eliminate resources and time attempting to comprehend them and integrate them. Furthermore, systems that are easy-to-use need training leading to quicker boarding and happier workers.

• The program should seem professional to investors. Make sure that the program is simple for investors to utilize also. It does not add value if the program takes a whole lot of time to comprehend. If investors, walk features to make certain you don't leave queries about performance to them.

Maintaining investor relationships wholesome necessitates communication that is top-notch. The B2B CRM system for the company will assist in keeping the lines of communication transparent and open as possible. It is your choice to do your research to get the one that is most suitable.

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Setting Up a Realistic Construction ERP Implementation Timeline

If you are planning to implement an ERP for construction, then you must definitely be seeking an answer for one question: How long will the implementation take place? Well, the answer to this question is not standard. The implementation duration can vary widely depending on the size of the company, complexity of the system, data from legacy systems, number of concurrent users, and so on. No wonder, companies struggle to come up with a proper timeframe. In fact, actual implementation time for most firms is way off track than pre-set timeframe. This is mainly because they keep unrealistic expectations in the first place, which later results in frustration or unrest in teams during the implementation process.

Consider these three tips to craft a realistic implementation timeline and ensure a smooth construction ERP solution roll-out:

Check Out Real-Life Scenarios: For setting the near-accurate ERP implementation timeline, it is crucial that you analyze real-world examples of construction companies of similar size, adopting similar ERP software. Closely evaluating examples of such companies can help you make a fair estimate. You will observe that organizations aiming for quickest installation possible, oftentimes have high hopes in the planning process, which then fall flat. It is crucial to remember that successful implementation of an ERP for construction takes time and efforts. A good ERP partner with extensive experience with construction companies and several success stories to their credit, can provide you with the implementation timelines of their clients and help frame a realistic one for your company.    

Make Sure to Factor in Every Process: An effective timeline needs to be extensive and should include all the elements involved in the implementation. For instance, your construction ERP software implementation plan must include activities, such as converting data for use in ERP software, sessions with the implementation teams post partner selection, and training and change management to accurately predict the duration of implementation. Not accounting for the time spent in these activities is a common mistake that most organizations make, which significantly disrupts the planned timeframe. A comprehensive implementation plan ensures an accurate check on the project progress and even helps you pay attention to small details that may otherwise slip through the cracks. Having a clear visibility into every project stage enables you to avoid delays and the project timeline to go off track.

Flexibility is the Key: One thing that plays a crucial role in developing a near-accurate timeline is an element of flexibility. In simpler terms, it’s a great idea to block a duration initially than putting a definitive number for a process. For instance, you can specify 7-12 weeks for the construction ERP software to be physically implemented by the partner, 3 to 5 weeks for training, 3 to 6 weeks for the test run, and so on. You can set a more definite number once you get more clarity.

Crafting a construction ERP solution implementation timeline is an ongoing task and needs to be reviewed as the project progresses. Working with an ERP provider with a proven track record and a strong team can help you estimate a realistic implementation duration as part of your planning process.

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How Machine Learning Can Improve Your Construction ERP Software

How Machine Learning Can Improve Your Construction ERP Software

With several conferences centered around its transformative potential and every industry expert betting on it as the next big thing, Machine Learning has taken the whole technology world by storm, and rightly so. Machine Learning uses historical data and real-time data feeds to enable a computer to automatically discover insights and predict new examples, aiding companies to find patterns and gain forecasting abilities. No wonder, every industry today is looking to tap into machine learning’s disruptive power. And construction industry is no exception.

In the last few years, we have seen ERP systems emerge as a necessity for today’s construction businesses, addressing its most complex issues. However, coupled with machine learning’s data-driven intelligence, the construction ERP solution promises to drive the next level of efficiency gains. Let’s look at four ways how machine learning integration can power your ERP for construction:

1. Strong Forecasting Capabilities: One of the prime rewards of construction ERP solutions integrated with machine learning is highly accurate predictive capabilities. Construction companies need powerful predictive analytics to derive near-exact estimates on project completion timelines, project cost, equipment and labour requirements, etc. A failure in precise estimation leads to project delays and increase in project initial cost shared with customers, which can significantly tarnish the construction company’s reputation. This is where machine learning comes into the picture and brings in a lot of value. Using historical data, machine learning can not only help you predict accurately but also warns you about the factors that may lead to delays or over expenditure. This helps construction companies to be better prepared in advance.   
2. Streamlined Project Management: On a construction site, a project manager has to deal with several day-to-day issues, such as water leakage, improperly installed window panel, to name a few. In a normal scenario, this requires significant amount of time and coordination from project manager to get these issues resolved. With machine learning integrated into construction ERP software, the project manager gets a digital assistant, which alerts the concerned department in any malfunction or quality issue. Apart from this, it can auto-prioritize these tasks and give a clear idea to the project manager on how much time an issue might take to resolve. These insights will help the project manager to revise work and manpower allocation to keep the project on track.
3. Predict Raw Material Requirement: Traditionally, managing raw material has been a huge challenge for construction firms. While construction ERP software addresses this issue effectively, software with in-built machine learning capabilities takes it to another level. By analyzing real-time data and historical data, it helps you figure out when you need to re-purchase a particular raw material. A good construction ERP solution also uses machine learning to suggest vendors for procurement.
4. Identify Safety Concerns: Health and safety in construction cannot be taken lightly. An ERP for construction with machine learning capabilities has the potential to identify and prioritize potential safety concerns across the project lifecycle. It identifies high-risk safety behaviors and flags subcontractors or employees that make the same safety errors time and again. These insights help project manager to take a proactive approach towards security rather than responding in a reactive manner. 

These examples are actually just the tip of the iceberg; with machine learning integrated into construction ERP solution, the possibilities are actually endless. In fact, analysts are asserting that looking ahead machine learning will be the defining capability that will distinguish modern construction ERP system from the traditional ones. If you are embarking on your construction ERP journey, make sure that the provider you select has the vision to incorporate advanced technologies like machine learning. The key to choose the best construction ERP software is to closely analyze the top leadership team – it should be tech-savvy and firmly focused on technology advancements.     

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Construction ERP - Effective Business Tool

Construction ERP Software enhances business productivity and adequacy of a development business. It is an incredible business device for the entire range of organizations, e.g. industrial development, business construction, field benefit organizations and design building administrations.

When you implement it from a prepared specialist co-op that has had practical experience in serving the customers with best in class ERP software, you get the best and value for money. Your specialist organization conveys the rich experience of offering administrations to an enhanced client base.

It is an adaptable business tool

Development ERP solutions by prestigious organizations, for example, StrategicERP can deal with different organizations and business lines.

The product utilizes the cutting edge innovation and proven business forms. There is dependably an accentuation on long haul relationship to set your position in the focused commercial center.

Three distinct advantages that StrategicERP brings

Here are three advantages that make StrategicERP the Best ERP Software For Construction.

You get an incorporated database

You have heaps of information in the development business, however, it is futile unless you can make the analytical utilization of it. A thorough ERP system has an incorporated database where you can get the measurements perspective of each project at a glance.

Try not to get into the brothers of installing independent venture administration tools. Actualize development ERP software.

Brought together reports.

Reports are the foundation of your business. You get the beat of the business by taking a gander at the value-based and MIS reports produced by ERP system.

Regardless of whether you utilize the ready-made reports or make your own particular formats, it is ensured that you get legitimate and precise information.

Arranging and designing reports would involve clicks when you utilize report modules gave by Construction ERP solutions.

Consistent coordinated effort with mobile

A construction ERP system is deficient unless it offers a consistent joint effort with your handset. Yes, Cell phones are powerful business devices these days. Subsequently, all eminent ERP Frameworks offer incorporated arrangements with your handheld gadgets.

Presently remain refreshed about all of the data and upgrade your basic leadership. Get the best ERP system introduced in your construction business and achieve exceptional heights.

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Advantages of ERP in the Real Estate and Construction Industry

Would you be able to envision a business in the cutting edge situation that doesn't look for the assistance of innovation? Incomprehensible, would it say it isn't? Yes, innovation has turned into an indistinguishable piece of the business organization and each specialty, including land and development business, uses it for accomplishing operational proficiency.

Being a dynamic and aspiring proprietor of land and development business, you need the Best Real Estate ERP Software and you don't fret over the cost. Since you realize that the advantages you get from it are much more profitable than the costs acquired in obtainment.

Here are the best advantages that drag each Real Estate and Construction entrepreneur towards far reaching Real Estate and Construction ERP Software arrangements:

It streamlines the tedious, protracted systems in a commonplace land business and makes them brilliant and effective. The functionalities of ERP framework suits and takes into account the necessities of your business.

It has an incorporated information framework that makes the product exceedingly valuable for little, medium and huge entrepreneurs. The Best ERP for Construction makes the business forms entirely simple.

It underpins the business end-to-end; from pre-development to post-development, from deals to showcasing and fund to extend; you generally get tremendous help on the off chance that you have ERP programming introduced.

Every module of the ERP programming is useful and valuable somehow or the other in your business. Regardless of whether you are a development organization, and entrepreneur or framework improvement organization; you can focus on the business well by utilizing the monstrous energy of ERP.

In the furiously aggressive business condition today, you can't get by without making the correct utilization of the correct promoting and deals techniques. You have to advance the brand and administrations to the correct gathering of people and publicize it well. ERP can be utilized for extending the business and contacting a more extensive group of onlookers. Tap the planned purchases and connect with the current one viable.

Aren't these advantages sufficiently adequate to go for the best ERP arrangements accessible today? Yes, take the advantage of innovation and convey fantastic administrations to your clients. It is the key to progress today!

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Why is StrategicERP the ideal apparatus for the Construction Industry

In a rapidly creating claim to fame like the development business, it is hard to get by without searching for the help of advancement. Customer asks for are consistently extending, and there is dependably a hole between the yearnings and fulfillment.

In such a testing domain, nothing can help more than Construction ERP software. Yes, it is the essential and unavoidable instrument for associations of all sizes.

As a development business person, you need to conform to the changing business segment needs and pick the new-age systems and instruments to make it a reality.

The approach should be to support the focal points by restricting the ventures. Fortunately, the development demonstrations the legend with best in class ERP software that can take the business to extraordinary statures.

Research programs underline the centrality of ERP in development business

Right when a thought gets a strong base of methodical and sound research, it sets up irregular measures of certainty. The utility and essentialness of ERP For Construction have been mulled over by authorities considering a couple of criteria in light of the overviews balanced for the prerequisites of the clients.

All examination programs derived that the ERP arrangement could expect a monster part in the development business. It extends the operational viability and in addition brings hoisted measures of customer reliability.

Using an extensive and adaptable ERP module, a development business can serve customers past their longings.

Nothing can bolster a business better than a sorted out ERP software .

Why should a development industry slant toward StrategicERP?

The mission for the best Construction Software stops at StratgicERP. It is an aggregate solution for your association.

It is delivered after unsurprising inventive work by an association that takes after the conviction arrangement of pulling in and supporting the best capacity.

The basic benchmarks of joint exertion, flexibility and absence of predisposition were taken after in the midst of the change methodology.

Right when the fundamentals of the business are considered, and enough care is taken to suit the improvement in the business needs; programming can serve their clients for a significant long time.

StrategicERP is the situation of watchful arranging and immaculate execution of programming progression nuts and bolts.

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