Real estate can be residential, commercial, retail development or just property management and renovation. The leading global provider of ERP solutions are SAP, Microsoft and Oracle. The real estate ERP solution provided by these companies suit the requirements of large organization but it may not suit the budget and localized requirements of small and mid-sized companies.
Common expectations from construction software
1. The solution should provide automation of construction and financial modules.
2. Some of the common modules present in the software should be architecture, engineering, sales and marketing, financials, construction, purchase, inventory, payroll and HR management, maintenance and legalities.
3. The construction software should be able to provide everything from cost to revenue projection on one-step data entry. The initial modules of the solution should give structural design and layout of the project, budget control, tender management, scheduling, contract - subcontract management , project monitoring, site work, reports of project etc.
The benefits of using ERP in real estate sector
1. It helps in making design and structural layout of the project.
2. It enables the organization to plan the budget and allocate resources as per the demands of the organization.
3. It helps in monitoring project at remote geographical locations and the organization can control work at many sites from one place.
4. It allows the real estate firm to get customer feedback and to improve client base. It enables the organization to contact customers on time.
5. It helps in planning, collecting, evaluating quality and costs.
6. It helps in easy maintenance of employee and partners' data.
How to get cost effective real estate ERP software?
To select the ideal vendor the organization should search for reliable provider which can give long term ERP solution and support. The software should be flexible to adapt to changing business needs and it should be easy to integrate to other applications. It should not only provide construction based solution but also manage other business fields.
Some of the cheap providers of real estate ERP systems are Ramco (the company that provided ERP solution to Delhi based DLF Universal Ltd), Pinga, Cannix, In4Velocity's In4Suite, and Gamut etc.
Timberline - For mid sized companies, Sage provided ideal real estate ERP software Timberline. Timberline covers most of the construction sections and it can provide huge customization to meet the requirements of many different types of organizations. Sage may not suit the requirements of global firms outside US and Canada as it is very difficult to get the support for the software outside these regions.
Oracle - Oracle can provide the real estate software through Oracle's E1 (formerly JD Edwards) and the software specializes in construction and homebuilding.
Gamut - Gamut provides web based solution for real estate firm and it can help in business process monitoring, streamlining the workflow. It provides single user interface for easy interaction.
Microsoft Dynamics GP - It can be integrated to Binary stream property site management to use it for real estate firm. The modules in the software include cost tracking, leasing, billing, commission management and financial management.