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The COVID-19 crisis has had a deep impact on the world economy. There is virtually no sector that isn’t feeling the heat be it Finance, Healthcare, Tourism, Hospitality, and others. This article talks about the COVID-19 impact on Real-Estate business and how enterprise technology – ERP software for Real Estate provides formidable solutions to companies to counter its ill effects.
COVID-19 impact on Real Estate
COVID-19 impact on Real-Estate has been on the rise and appears to remain for a fairly long time. The following points explain them in detail.
- The three-week-long lockdown has left a huge chunk of population with no work. With no savings left, they aren’t able to pay rents and EMIs.
- Construction activities have been completely halted resulting in ongoing projects being delayed for several months.
- Fear of losing jobs has discouraged people from buying new properties.
- Companies are keen on reducing their reliance on workspaces and adopt new models based on technology – such as remote working to ensure business continuity.
- To avoid declining sales and mounting losses in times of such an unprecedented crisis, retailers will focus on revenue-sharing models with mall owners.
- Since Work-from-home has become the new norm, corporates will renegotiate office rents.
Also Read: ERP for Real Estate Industry
How ERP can help reduce the COVID-19 impact on Real-Estate?
ERP for Real Estate enables seamless flow of operations and drives maximum business profitability. Real Estate ERP also manage complete production and planning process through a single platform.
- Keep a close watch at your inventory in the warehouse.
- Monitor and regulate the stock movement.
- A highly secured database keeps track of all the customer information including their name, contact information, past purchases, buying behavior, etc.
- Divides customers into different segments and automatically sends marketing messages. It also takes care of follow-ups and resolves customer issues instantly.
- Takes care of sales functions such as order placement and scheduling, employee and partner commission, and efficiently handles payments.
- Stores information about all kinds of real estate properties including residential complexes, commercial complexes, luxury housing, etc.
- Performs the function of an agent by operating multiple schemes within a project, managing accommodation rate and informing clients about new locations that they might be interested in.
- Reduces the time spent by HR employees in handling administrative tasks and helps save money spent on activating self-maintaining applications.
The COVID-19 impact on real-estate business has been successful in impeding its growth throughout the length and breadth of the country. This is where ERP comes as a savior. It helps to cut costs, automate tasks, and boost the efficiency of your employees. At Sage, we are home to world-class ERP software that will take care of all your real-estate problems and help you run your company like a pro. To know more about it, SMS SAGE to 56767. You can also write to us at firstname.lastname@example.org.
Disclaimer: All the information, views and opinions expressed in this blog are those of the authors and their respective web sources and in no way reflect the principles, views or objectives of Sage Software Solutions (P) Ltd.
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