India has become one of the hottest Real Estate markets over the last few years, with almost 40 percent of its population between 15 and 32 years old. This large portion of the population is creating a boom in the Real Estate sector, from retail to hospitality, education, health care and residential.
Until recently, Real Estate firms have struggled to get their bearings. A lack of regulations and Real Estate enterprise resource planning (ERP), as well as disorganization, prevented many firms from reaching their full potential.
The recent changes many firms in India are making in Real Estate ERP and customer relationship management, however, are turning that around. Many firms are improving their organizations with ERP systems that maximize their communications, incorporate better data integration and create a unified information system. By using an ERP system, they are able to use a central database that achieves better integration of all their systems. With an ERP system, they not only function better internally, but also have better connection to outside stakeholders.
All of these factors are allowing Real Estate consultants to forge forward, even without strong standardization. The inclusion of better ERP has reduced IT spending, improved business planning and has helped with future growth. These tools enable them to campaign in organized, methodical ways that are showing results. The inclusion of tools such as social media, international solutions, and business-to-business solutions is bringing India’s Real Estate firms up-to-date. The changes in a booming market allow firms to provide better service to a generation that is accustomed to being mobile, more social and tech-savvy.
A good ERP solution can create a seamless flow between all aspects of the business. Even in a country such as India, where so much is unregulated and disorganized, ERP has made a huge difference. It has taken a market that was floundering and grounded it for success.