Today Construction and Real Estate business is one of most booming sectors. Major companies are diversifying into this business. In-house operational complexities and site management has become one of major concerns of the industry. As the demand is high, the companies are getting involved into managing number of projects of different sizes and scales with strict deadlines of completion. They would like to have real-time information of the site status, Budget ?vs- Actuals, Stage of completion and overall Project Variance.
The companies have an extremely challenging task ahead of it and they need adoption of best practices in Information Technology to aid them in the execution of these tasks. The companies need a system which can handle the complex and flexible business needs of the organization and the lack of integration can lead to ?costly? gaps in the management control and the associated decision-making criteria.
Ontrack?s Capability on Real Estate Management System
The Integrated Business Solution is expected to fetch the following business benefits for the organization:
- Better control on project milestones, budget, profitability, inventory, cost and cash flows.
- Better visibility across functional domains that include Project Management, Resources, Sales, Purchase, Materials and Financial Management.
- Increased transparency of Business Performance and Strategic success factors.
- Accelerated response to market changes.
- Centralized Planning & Control.
- Better utilization of resource.
- Complete data integrity.
- Faster response to business need and hence greater business efficiency and cash flow.
- Complete data integrity.
Real Estate Management System of a large real estate business group
Our client, a large real estate business house operating since 1960 has successfully completed a large number of prestigious multistoried residential and commercial complexes in India. It enjoys solvency reputation with major banks regarding loan repayment. It has a wide array of housing projects under execution. The organization felt the need to harness latest practices in Information Technology in quest for a holistic solution to address the following challenges-
- Improved project management with better control of project milestones, allocation and de-allocation of resources.
- Efficient planning and control.
- Integration between Project management, Resource Mobilization, Purchase Activities and Financial Management Functionalities.
- Centralized Data Management System.
- Improved cost control and shorter accounting time lag.
Ontrack addressed the problem by segmentation in to the following seven functional units-
- Project Management
- Resource Management
- Purchase Management
- Materials Management
- Sales Management
- Financial Management
- Relationship Management
Ontrack was successful in holistic integration of all these modules and devised the system on superior business logic. Special importance was given on user-friendly interface and ease of navigability. Inbuilt security, complex query handling capacity and streamlined document management system were it?s other important features. The company reported improved performance within a short time span. The company plans to escalate its business operations in the near future. However the incremental cost in system implementation will be minimal due to futuristic approach of Ontrack?s Real Estate Management System.