Top 8 Benefits of ERP Software in the Real Estate Industry
In today’s digital world, it is found that the majority of the construction and real estate businesses are operating traditionally. According to a construction-industry survey conducted by JBKnowledge, it was identified that the workflows that are most dependant on software: accounting (85%), estimating (60%), project management (50%), and scheduling (50%), are the same workflows that highly depend on spreadsheets, highlighting significant operational and financial risks in the real estate & construction business.
To eliminate human blunders and slower productivity that occur in the real estate & construction business processes, Enterprise Resource Planning (ERP) software needs to be integrated. ERP streamlines and automates all business processes such as sales, HR, procurement, inventory, etc., with the help of the latest technology to provide insightful and meaningful real-time data.
In this article, we have discussed a few benefits of ERP software that will help real estate and construction business owners understand the importance of its integration into their business.
1. Automation of Manual Tasks
An ERP software can help to automate traditional business processes and boost the productivity of the employees in an organisation.
For instance, if the marketing department has to wait for the customer data from the sales department, to implement new marketing strategies, it slows down the overall productivity of the process.
With an ERP system in place, all the relevant data can be stored and updated in one centralised platform that is accessible to everyone. Utilising the best ERP software eliminates manual tracking of the data, breaks the traditional silos within an organisation, and improves the efficiency of the business processes.
2. Centralized Data Storage and Management
Every business process involved in a real estate or construction project must take place concurrently to complete the project. To facilitate this, ERP software provides a unified, secured platform for easy storage and management of the data. Business owners can dynamically track and analyse the project data which aids them to calculate the financial costs incurred accurately. The simultaneous and efficient tracking benefits of the ERP software improves project efficiency and productivity.