CRM - Present business need for Real Estate (Reality) companies After witnessing a period of tremendous growth, businesses in the construction and real estate markets now face a steady downturn! As the economy has slowed down, interest rates have increased and home sales have slowed. Construction companies that have grown so far, accustomed to the massive influx of buyers over recent years have been hard pressed to maintain momentum in the current market conditions. Very few Real Estate companies are well equipped to handle this situation for maintaining and growing their business. While they are good at identifying the right plot / land, construction management and managing finances and accounts; not many have focused on implementing an integrating and sophisticated Marketing, Sales, Customer Service and Partner Relationships (Brokers). In tune with nature of the business, most of the real estate companies have a diverse and distributed sales force across their corporate sales offices, site offices and in addition they have brokers. All the sales team members follow different sales process. They all manage the enquiry and contact information of their prospect with a combination of paper based forms, word and excel sheets, etc. Having a consolidated data from multiple sources is a huge challenge. In addition to this, no Sales Force automation system is in place! Critical Prospect and Customer information rests with individual sales representatives. The important question to ask here would be, “what if a sales representative leaves the organization? What happens to the data he was following up with?” It is barely possible to retain the leads information eh was working on. Unavailability of status of Leads, Opportunities and Accounts related information to the Management on a real-time basis. By using the traditional methods, it is very difficult to extract the market demand and requirements from collected data. For example, what is in more demand? A 3BHK or a 1.5 BHK flat? Which of the prospects is more interested in the property? Also, generating demographics information from the prospects database is very tough! Even figuring out the statistics and reasons about the enquiries lost to the competitors is a tedious task. How effective are the marketing campaigns, exhibitions, advertisements, schemes, etc? How responsive is the customer service? Sales review meetings happen to be unproductive as availability and accuracy of available data questionable. All this leads to low efficiency of Sales Team with respect to time, output and quality. Enquiry leak may also happen due to a combination of above. Commencement of new projects during boom-time has created a lot of inventory w.r.t. completed property, as well as under construction realty. The inventory and the project costs are increasing and the cash flow is deteriorating. Operating costs are increasing because of the interest on the existing projects and working capital. Acquiring new property and launching new projects will get affected because of this. Increasing the profitability and achieving stable, sustainable growth rate has become increasingly challenging. In a tough economy, fewer businesses flourish. Ofcourse, every organization is eyeing ways to gain better market share over competition. Innovative new products and services, strategy specific to current market situation and requirements is the key. With fewer prospective customers shopping for property, organizations in the real estate sector can’t rely on market demand along to drive property buyers their way. More sophistication is required technology wise in marketing efforts. Perfect analysis of marketing channels is required to identify generated leads. Also, ensuring that no lead is let loose due to any gap in the sales funnel is imperative. Organizations need systems in place to methodologically capture, qualify and distribute leads to the sales force, and the sales process needs to be structured around these systems to ensure sales personnel are using their time as productively as possible. Tracking inventory status of apartments and shops in each project (sold, unsold, work-in-progress, etc.) in real time should be in place. Due to the nature of realty industry, systems should also manage complex organizational structures with geographically dispersed divisions, uniting the entire enterprise in the pursuit of common goals, processes in information sharing across business verticals. If you do what you've always done, you'll get what you've always gotten... Forward-thinking firms are looking to strategic initiatives and technologies such as Customer Relationship Management (CRM) to help them realize the business efficiencies required to continue to grow revenues in a cooler market, recognizing that with market changes come real opportunities to excel. iWare Logic’s approach to helping companies drive measurable business results starts with a strong understanding of problems companies face that impact their business performance. The issues we seek to address across marketing, sales and service are fairly typical among organizations that lack a successful CRM strategy and implementation. Oracle CRM On Demand is Oracle's industry leading, Software-as-a Service (SaaS) CRM solution. Siebel CRM On Demand delivers low-risk, hosted customer relationship management that helps customers accelerate sales, improve marketing and deliver consistent customer service. With customers that include leading SMB and Enterprise organizations globally, Oracle CRM On Demand is the most complete hosted CRM solution for accelerating business results. Oracle’s Siebel CRM on Demand gives you the power to: • Increase marketing productivity while lowering customer acquisition costs • Improve sales effectiveness by automating and streamlining your sales processes • Deliver world-class service by uniting dispersed sales, marketing and service teams • Understand customers better and make decisions with built-in business intelligence As a subscription service, there’s no software to install, maintain or protect. Instead, upgrades are automatic, performance is assured and reliability is built into Oracle’s secure hosting network – so you can focus on sales instead of searching for information and managing your IT infrastructure. With CRM On Demand, Oracle manages CRM On Demand Applications (OLTP, OLAP & more.), Operating System, Databases, Servers, Storage, ETL, Backup, Archiving Security and Network Equipment, Internet Bandwidth, Customer Care and Knowledge Base and allows you to focus on your customer. Oracle’s Siebel CRM On Demand features embedded business intelligence functionality that gives you a real-time snapshot of your customer relationships – at your fingertips, anywhere, anytime. Oracle CRM On Demand provides a core CRM application functionality and iWare Logic extends it further by implementing an Industry Specific Data Model for Real Estate, Configuring Property Object, Agent Object, Link between Property and Contacts, Agents, Service Requests, Workflow and Web Services etc Contact an iWare Logic representative today to learn more about how iWare Logic CRM for Home Building and Real Estate can address your unique needs. Call Ms. Vrishali Gargatti: +91 9326727552 or email us at
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