Most real estate companies are struggling hard with inefficiency in their property management due to the lack of any data integration system. Situations become more prominent as their business spreads and its operational areas expand. To improve real estate management, your property needs a little more investment in “Cloud-ERP”. It promises to accelerate your business faster, stay up to date with the latest market information and create efficiency across all functional areas. In other words, a one-stop ERP solution that works on a cloud network and is available to all streamline lines from end to end processes, ie. from lead generation to project completion. Thus, no more fights with separate software systems that cost you more money, people and time.
Let’s get more detailed information on how a cloud real estate ERP application can benefit you over time with hassle-free property management.
# 1 Get control of your lease
With ERP’s rent management function, you get full control of your leasing operations, such as an accurate analysis of the rental requirements, perception of demand supply graph and occupancy rate. In addition, the cloud system integrates a comprehensive 360-degree tenant intelligence tool, allowing you to keep track of rentals or renewals. With automated notifications, you can further know rent control and leases time and time again.
# 2 Project management becomes very streamlined
You can have a comprehensive project management system with a full cloud supported ERP. Get easy tools for estimating automated project costs and costs actually provided by contractors and subcontractors. Not only does cost estimation, it also automates daily billing and payments to them. Further, you can determine your profitability of the projects through the biggest progress indicators.
# 3 Purchasing materials becomes effective
You can improve your control over the materials procured at various points and therefore can avert any crisis in your inventory. Cloud-ERP plans for material purchases faster by telling you what’s short and where. Supplier catalog maintenance, evaluation of purchase order charts, and tracking of shipments until they are delivered, anything is possible on your cloud ERP solution.
# 4 Coherent Management of Accounting and Finance
Cloud-enabled ERP solutions help you get real-time data on your finances from accounting, purchasing and sales departments. This helps generate flawless reports on materials that have been purchased, used or needed. Dashboards on the ERP that are available to all employees will provide updated information on receivables / receivables, profits and income statements, sample statements, etc.
In addition to all this, you can also get information by logging into the system of fund planning, tax rules and deductions, statutory compliance with your various projects, and keeping track of your costs to increase profits. While there are enough compelling reasons to make use of cloud ERP in your real estate venture, waste no more of your time on inefficient processes, substandard planning, budgeting and disorganized property management.