3 Tips for Selecting the Right Real Estate ERP Software
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Blog posted by : Admin / 22 May, 2018
In the past few years, ERP has made huge inroads and fueled dramatic transformations in almost every vertical—and real estate and construction segment is no exception. After all, there are far too many success stories to ignore its benefits. In fact, ERP is increasingly being touted as a necessity as it addresses the traditional challenges of the segment, such as project planning, cash flow visibility, collaboration with service providers, etc. While every real estate firm today is jumping on the ERP bandwagon to stay ahead of the fierce competition, maximizing the full business potential from the implementation lies in selecting the right ERP provider.
As there are a plethora of providers, finding the right one that meets your business requirements can be a real challenge. Use these quick tips to simplify your search:
1. Customized for unique complexities: Real estate as an industry has its own set of diverse challenges and operational bottlenecks, which are typical to this business segment. A generic software is usually designed to streamline and automate common processes of any business. In order to derive the maximum RoI from your ERP initiative, choose the software designed exclusively for real estate, tailored for its complexities. A good starting point is to list down your business requirements and the prime objectives that you are looking to achieve with the implementation and then select the provider that has the ability to address your priorities.
2. Modularity of the ERP: Look for an ERP software that allows you to implement the most critical modules initially and then add more modules on a need basis. This minimizes your expenditure in the primary phase and once you start reaping benefits owing to integrated processes, you can add the next batch of critical modules and so on, until you move all the functions on ERP. Phased implementation approach also enables you to start with must-have and move to good-to-have features as you overcome initial resistance from the workforce and the acceptability of users increase.
3. Ease of Use: To ensure that your entire corporate ladder—right from C-level executive to data entry personnel—is using the ERP features effectively, it is crucial that it is a platform-independent application and provides consistent experience on tablets and mobile phones. Make sure that the ERP software runs seamlessly whether a worker is accessing it on Linux or Windows from office or a top-level manager is accessing it on his Mac or even on a tablet or mobile phone while on the move.
Once you shortlist the ERP providers on the above three critical points, you can further narrow down on the providers that have significant number of successful use cases in the real estate market. Remember, it is of utmost importance to do due diligence before zeroing on a provider as adopting the right ERP software is instrumental in achieving your business goals and taking the next big leap.
