ERP is a proven tool to manage your business proficiently. 95% of businesses that implement an ERP experiences improvements in business processes. In addition, 82% of companies that use an ERP generated expected ROIs within desired timelines.
As a result, an ERP is a great investment for any business, especially real estate agencies. However, how do you select the right real estate ERP for your business?
What factors should you consider?
Let’s find out!
Establish Your Needs to Choose the Right ERP
ERPs come with a range of varying features that differ based on industries. Therefore, you should select an ERP that is designed for the real estate industry.
In addition, go for a tool that aligns with your real estate sector. For example, construction businesses will need an ERP that lets them plan and manage projects.
On the other hand, agencies in commercial real estate will have different needs. You may want a solution that helps you manage all your properties from a single interface.
Therefore, consider your business and operations to choose the right ERP.
In addition, establish what you want out of your software. Or, determine the tasks or goals you want to achieve with your software. You can then decide the features you need in your software and choose the right option accordingly.
For example, you may want to rely on your ERP for:
Managing inventory
Create a single database of all your properties
Manage, sort, and report on finances
Automation of pre-sale process, like email replies
Look for High Customizability
Around 50% of all ERP implementations fail at the first attempt. One of the biggest reasons for the failures is the inability to tailor a solution based on your needs.
The truth is, there is no one-size-fits-all when it comes to choosing an ERP. That’s why we recommended determining your needs in the first step.
However, there is another step you need to ensure to make your implementation successful. Look for an ERP that you will be able to customize based on your unique business needs.
Otherwise, you will be left to use a solution designed with someone else in mind.
The best way to get past this challenge is to talk with your software provider. Tell them your needs and see if they can tailor their offering to meet your circumstances.
Focus on User Experience
Not all ERPs are made the same. Some are simple, easy to navigate, and let you focus on what’s important.
On the other hand, you may come across ERPs that make your life unpleasant. The problem is more common than you think, with user experience being among the top areas an ERP falls short.
As a result, it is necessary to select a solution that is easy to use. However, the management should not be the only one to make the decision.
Your employees are going to use the software after all; so, you should gather their feedback before making the final call.
Get a few employees to test the trial version or demo of the ERP you want to choose. You can then find out how good or bad the user experience is in a jiffy.
Additionally, you can research reviews of the software for more information.
Look for a Mobile-Friendly Real Estate ERP
60% of employees today use mobile apps to work productively. In addition, 21% of workers rely on department-specific apps to get tasks done.
The trend is pretty prevalent in real estate where you need to send employees to the field. From property managers to sales reps, most workers use their phones to work on the go.
As a result, your ERP should come with a mobile extension to facilitate work. It will allow your employees to work from outside the office and boost efficiency.
Best of all, you can even improve employee productivity by 34%. It will help you enjoy more returns from your investment along with your regular ROI.
However, ensure that the ERP you choose has strong security. It should be able to secure users, data, and processes without any exception.
Make Sure Your ERP is Interoperable
Real estate agencies use a range of tools to manage day-to-day operations. You may use a real estate project management tool to stay on track of your projects. In addition, you may rely on accounting software or expense management tools to manage your finances.
Some agencies may even use an CRM to boost leads and handle customers.
However, most of these tools are not interconnected. Adding a new ERP to the system, therefore, will not add much holistic value.
For that, you need to connect all your disparate real estate tools. As a result, look for an ERP that you can easily integrate with your existing apps.
You will be able to achieve seamless exchange of data and open the doors for new possibilities. In addition, you will be able to gain complete visibility across your business processes.
Choose a Real Estate ERP with Dedicated Support
We saw how more than half of all ERP implementations fail. Users also experience issues with usability and operational disruption.
As a result, it is better to be cautious and go for an ERP that comes with dedicated support. This is more important when you don’t have enough technical expertise in-house. You will need someone to resolve your queries and find your way around the new product.
Therefore, never select an ERP that has a questionable support team. You can always get in touch with your vendor and ask a few questions to test the support quality.
Final Thoughts
A real estate ERP is a great investment to streamline operations and boost productivity. There are several quality options in the market that you can choose based on your needs. For example, MiCasa is an apt ERP for real estate agencies looking to improve efficiency. It comes with all the vital features to grow your business and stay in control. In addition, you can be sure of ongoing support for your complete peace of mind.
