We are definitely going to be discussing why NetSuite is considered an ideal ERP for real estate, as that is the focal point of this article. But don’t you want to know whether the real estate industry needs an ERP solution at all? Just like any other industry, it is important for real estate to be able to boost its efficiencies along with improving visibility across organizations and their functions. Very simply put, ERPs not only make that possible, but they also help minimize costs while adhering to industry best practices and standards and without compromising on quality.
Companies have to learn to adapt to the ever-changing business environment regardless of the industry they pertain to. ERP software for real estate companies helps transform the company’s operations and management processes. Moreover, they can be customized to meet the unique and specific requirements of just about any business in nearly any industry. In short, ERP for the real estate industry helps you gain and retain a competitive edge by helping you handle each and every function of your real estate business effectively and efficiently.
Top 5 ERPs For Real Estate
We have compiled a list of the top 5 solutions that are known as the best ERPs for the real estate industry. It should not be a surprise that NetSuite tops the list. We will soon get to why we and so many others refer to it as the number one ERP software for real estate companies.
Oracle NetSuite ERP
The number one cloud ERP for the real estate industry, the NetSuite ERP is an all-in-one business management solution, which aims to help businesses streamline their core processes and functions.
The most popular business management software used in India, Tally.ERP 9 is an end-to-end enterprise solution for small and medium-sized companies.
Built on the latest technology stack, Orion is known to empower businesses by helping them optimize their processes with an integrated, cloud-enabled ERP solution tailored to small and mid-sized companies.
A highly flexible and scalable solution with powerful tools and features to help manage your real-estate business, Ramco ERP is also an Indian cloud enterprise solution that supports the entire process for companies from planning to business analytics.
A comprehensive plug-and-play solution for real estate businesses, the TYA Suite ERP has specially designed customizable features and tools that are easily scalable as the business grows.
NetSuite ERP for Real Estate Industry
A fully customizable, one-stop Enterprise Resource Planning software solution, Netsuite helps you integrate your core company functions seamlessly to offer you a smooth and unified experience. But why is it known as the best ERP software for real estate companies, you would ask? NetSuite provides the ideal platform for real estate management because it has the tools and features required specifically for the real estate industry.
An integrated ERP as well as CRM solution, NetSuite offers more than just streamlined transactions and operations. It helps real estate companies simplify their management tasks and workflow and improve real-time decision-making. Moreover, its unique and scalable ERP features help you avoid any obstacles that may occur while expanding and venturing into new territories.
Benefits of NetSuite: The Ideal ERP for Real Estate
An ERP for real estate has several benefits, some of which are streamlined budgeting, project estimation, project feasibility, supplier management, land acquisition, and even tax management. It also helps with material requirement planning if and when there’s a need, as well as improved visibility on finances and income. ERPs are beneficial because they almost always prove to be worth it by helping organizations boost their revenue.
Here are some benefits of NetSuite ERP software for real estate companies:
- Helps control and manage construction management in real-time.
- Helps handle each individual construction project in detail.
- Automates billing and invoicing and helps create sales quotes without losing time.
- Helps manage assets and equipment, their allocation, and related costs.
- Helps with human resource management.
- Automation of basic manual tasks reduces the load on administration and enhances time tracking.
- Enables employees to work from home since NetSuite is a cloud-based system.
- Helps with labor management, and time management, and helps track and forecast project completion dates.
- Helps with task scheduling and project management.
- Breaks silos and helps with critical data exchange between departments and functions for easier communication.
Important Functions & Features Offered by NetSuite ERP for Real Estate
The ideal ERP for the real estate industry should have the ideal functions and features that are truly made for the real estate industry and actually helps streamline operations and processes. There is a reason that NetSuite has a name in the industry and that is because it has proven, time and again, that there can be no better substitute. Here is a list of features and functionality offered by NetSuite:
Perhaps one of the most important modules, property management helps you manage and maintain property records in your portfolio all in real-time.
NetSuite’s powerful finance management module helps you collect and analyze real-time data from different departments to show it on intuitive, visual dashboards that offer a concise and precise view of everything.
The NetSuite ERP for real estate also helps property agents in tracking and managing their sales and bookings for all their projects.
The ERP helps you manage your brokers by offering a system that helps you track and manage your existing property.
It also helps the workers in operating multiple schemes and projects within projects, and also helps control and manage accommodation rates. Moreover, it helps keep the clients informed about any new locations.
It offers you complete control and gives you total visibility over your projects so that you know what is happening at every step while streamlining operations and optimizing cost control.
NetSuite offers accurate revenue forecasting and management with increased transparency and compliance with necessary regulations.
This module collects and stores data about real estate clients, their credit history, purchases as well as other important project-related information about the clients.
So are you convinced that NetSuite is the best ERP for real estate?
If nothing else, then at least you must be convinced that NetSuite offers more benefits than all other ERP platforms and solutions because of its features and tools that are further customizable to meet the needs of your unique business. We think it makes perfect sense to choose NetSuite when you are thinking of implementing ERP software for your real estate company.
If you need a little more convincing or want to know how NetSuite works, all you need to do is schedule a consultation with us and we will get our NetSuite experts to get in touch with you right away with a free demo!