5 Effective Solutions ERP Software Brings To Real Estate Companies

2020/03/02 03:18

Let's analyze why an ERP software is an indispensable choice for businesses in the real estate industry. This field can be considered an extremely competitive ecosystem, where the entire industry is rapidly evolving, and every business within it needs to update information every minute, every second!

An effective ERP software can help streamline the workflow of a real estate company, from managing potential customers to project completion. Additionally, a web-based ERP software integrated with a CRM system can reduce operating costs, provide a comprehensive view of ongoing projects, facilitate daily management, eliminate waste components, and enable quick decision-making.

Here are the factors that a real estate company can benefit from ERP software:


Real-time information for the business

As a company grows, maintaining data becomes challenging without efficient management software. An ERP software not only eliminates the difficulties in data entry but also updates information in real-time, ensuring all modules and corresponding users are up to date.

For real estate companies, synchronizing all departments saves redundancy and allows users to focus on available data, enabling business owners to expand their scale.

Rental management

The rental management module of ERP software includes the ability to analyze rental requirements, create supply-demand charts, and provide statistics on vacancy rates. It also includes detailed information about tenants and manages rental payments, price increases, and renewals.

With timely notifications, the rental management module helps monitor whether tenants have paid rent and deposits. An effective CRM system accompanying it brings satisfaction to tenants and helps businesses achieve higher occupancy rates.

Procurement and inventory management

An ERP system provides real-time integration of financial, material, construction, and sales data. It also enhances control over procurement and inventory management, as well as helps prevent crisis situations.

Real estate ERP software can expedite the planning of material requirements, prepare purchase orders, create purchasing evaluation charts, maintain supplier warehouse maintenance, and track raw material batches until delivery.

Financial management

Cloud-based ERP systems have the capability to collect real-time data from accounting, sales, and purchasing departments and perform error reconciliation between purchased, used, processed, and surplus materials.

The intuitive dashboard provides a clear and concise overview of revenues, expenses, profits and losses, financial statements, and balances. It also provides comprehensive evaluations for intelligent investment projects, tax deductions/payments, and compliance regulations.

Project management

Comprehensive project management can be achieved through specialized ERP software for the real estate industry. These software solutions allow for project cost estimation using a Bill of Quantities (BOQ) and additional costs from subcontractor-provided works.

Daily payments and expenses for subcontractors are automatically processed, and invoices are systematically maintained. Key costs and progress indicators are also available to assist in estimating project costs and profitability.

Complaint management and maintenance

This ERP module helps improve tenant retention rates by triggering specific maintenance services and preventive measures for each property based on predefined schedules. It also provides the ability to manage complaints based on a system-based approach and facilitates convenient and professional conflict resolution services, ensuring customer satisfaction.

VNG Cloud currently offers ERP modules and software based on modern cloud computing technology for real estate companies. Customers using the service will receive detailed advice to select suitable software and modules for their business scale and purposes.

The solutions of VNG Cloud provide the significant benefits listed above for all your real estate business needs. With a suitable ERP software, you can maximize ROI, easily comply with regulations, gather detailed information flawlessly, and make informed business decisions.