5 Reasons why real estate ERP system can prevent failure

Real estate business is booming in the UAE. The high housing demand has attracted investors worldwide. New and old real estate companies are already competing to meet the increasing demand. Real estate market is fierce and brutal. Over 3000 are competing to control. It is usual to see fresh and even known real estate companies fall down. Real estate failure is an old problem; to avoid it today, you need novel solutions like a real estate ERP system.

What are the significant reasons for real estate failure? How can ERP systems help fix the problem? Let us find out together.

Lack of funds

Real estate business can generate significant revenue. However, they also have enormous expenses. Real estate companies have to pay for property maintenance, employees’ wages, advertisement, administrative costs, etc.

For new companies, the issue can be not having enough capital. For existing ones, funds issues can appear when the expenses are higher. High expenses can result from a variety of factors, like a decrease in closing rates and inefficiency at work.

Implementing an ERP system for your real estate company provides a solution for financial problems. ERP increases efficiency, allowing better utilization of your resources. A study of the effect of ERP implementation on the system showed a reduction of 22% in administrative costs and 23% in operational costs.

Few leads are generated

Real estate companies’ work involves selling, buying, and renting properties; sometimes, you can add property management. The company’s job is to find a house for clients interested in purchasing and buyers for property owners. They get paid for every purchase or sale they close. Therefore, they need to have more leads coming.

The old-fashioned mouth-to-mouth advertisement is still used, but it is less reliable than before. People have changed their ways of looking for properties. Thus, real estate companies must follow. Investing in marketing is a must for any real estate company. Marketing expands the market for the company and finds better leads constantly.

The next-level challenge is to have a better marketing strategy than the competitors’. ERP systems provide real estate companies with vital information and reports to analyze sales, identify trends, and hence create well-planned strategies. Furthermore, ERP accelerates the decision-making process. Hence, the marketing plan can be applied faster to harvest more leads first.

Poor customer relationship management

In the real estate industry, the business relies mainly on relationships with clients. Client satisfaction and trust are the elements they need to stay loyal to the company. Agents know they should follow up with customers constantly, yet, many reasons can prevent them from doing so, like not being able to find the phone number or forgetting about the client’s requests. Ignoring the client has an imperative result; they leave for other companies with better customer service.

ERP solution for real estate involves a good CRM system. CRM allows you to have all customer information gathered in a single platform. This involves contact information, deals and transaction details, and their requests. You can have access to all this information and respond faster while you talk to them, giving them a sense of being valued.

CRM tools allow sleek follow-up with clients even after the deal is closed. They provide new methods that save time, such as email campaigns or sending WhatsApp messages. CRM also provides straightforward means for the client to request services from the company.

Hiring the wrong people

Businesses such as real estate are built on trust and connection. Agents must work like a charm to give clients what they want and keep them happy. The secret here lies within the agents themselves; they have to know how to deal with clients in a way that they remain comfortable.

High salaries and good benefits of real estate jobs attract many people who know nothing about the ABCs of the real estate industry. HR departments usually have specific requirements for choosing employees, but when they choose the wrong people, the whole business feels the hit.

It is hard to find suitable candidates among tens or even hundreds. The process involves many stages and steps. ERP systems have the tools to organize and simplify them. You can be confident that you have the right team with you on your way.

Poor employee management

Passion is the fire that lights the way to success. Happy employees often perform better and score more. On the contrary, employees’ performance drops when they feel uncomfortable in their work environment.

Working on providing a pleasant work environment is an essential task for the HR department. Enhancing the workplace can be made easier with the right tools. ERP HR modules have different tools to evaluate performance, track and reward good results, and more. The environment will reflect itself on the results and increase the sense of loyalty to the company.

For more information about real estate ERP software and CRM, or if you have any questions. You can contact the Odoo team. We are always happy to help!

Oddo apps benefits of HRMS 

The term “Human Resource Management” refers to a collection of application programs that together facilitate the efficient management of an organization’s processes, as well as its human resources and information. Human Resources Software is utilized to combine numerous HR functions and employee relations, such as storing employee information, recruitment processes, Recordkeeping, payrolls and benefits, and compensation management. 

In light of the fact that each organization’s HR necessities and difficulties are exceptional, it is essential to implement HRMS software that can be customized, such as Odoo HRMS, relying on your organization’s problems. 

Let’s take a look at how Odoo can expand the scope of Human Resource Management and what its advantages are. 

All your personnel data is compiled 

With Odoo, you can quickly compile all of your HR data and monitor information for each department. It allows you to set permissions for the publication of information among the general public and HR professionals. Through the use of this system, you will be capable of getting notifications regarding any vacation applications, assignment requests, job applications, new audits, and even more. Clear and environmentally friendly internal communication is made possible by the software’s notification pop-up feature. 

Recruitment management 

Odoo HRMS simplifies the automation and management of a company’s recruiting and staffing procedures. It includes the generation of job descriptions, rapid resume parsing, sorting of candidates, automated interactions with candidates, and multichannel job marketing. 

  • Online posting of job vacancies 
  • Facilitation of the Recruitment Method 
  • Aid in tracking job applicants 
  • Appropriate recruitment of new employees.

Manage your employees easily

With Odoo ERP, it is simple to scan and compile the key information across a number of organizational departments. It allows you to set permissions for the distribution of knowledge among HR professionals and the general public.

Odoo’s Human Resource Management System (HRMS) takes care of every aspect of human relations. The pop-up notification for new leave proposals requirement for allocation and evaluation software makes internal communication clear and effective. 

Evaluate attendance and time 

The software for the Odoo Human Resource Management System offers weekly or monthly timesheets with optional attendance tracking. You can make a note of your employees’ working hours and organize them by project, customer, or job.

This system serves as a gateway to statistics for recording and analyzing timesheets as well as checking employee attendance. In addition, the Odoo Human Resource Management System will automatically publish time-use reports for the project. 

Maintain Leaves

Odoo simplifies the process of removing software. Managers have the option of viewing days without work requests, allowing them to determine whether or not to approve them. If the supervisor approves the request, timely notification is sent to the employee, and their calendar is automatically updated. 

Learning management

The Odoo learning management system efficiently collects, organizes, shares, and analyses an organization’s resource, document, and people-skills-based knowledge. 

  • Monitoring employees’ performance 
  • Access to instructional modules 
  • Guaranteeing the loss of data 
  • Efficiency of resource allocation. 

Payroll 

The salary of the worker is accurately calculated by the Odoo Human Resource Management System. HR managers used to struggle with keeping track of each employee’s wages, but that is no longer the case, thanks to Odoo. It facilitates the generation of payslips in an effortless manner. 

Final Thoughts 

Using the Odoo Human Resource Management System would simplify all of your human resource operations. This system is deserving of the title of best human resource management system for all types of businesses.

We are providing Odoo services to various industries across the globe. If you are looking for an Odoo ERP implementation service or a single module to meet a specific need, we can assist you

Using OdooApps to streamline your human resource management process  

Human resources are among the key elements in each organization. Having a good team of employees working for you affects both the quality and the quantity of your work. From the beginning, your HR division tries to find suitable candidates, then provide a good working environment.

What do HR managers do?

HR managers are responsible for the company’s employees’ life cycle. They are the ones who bring new blood to the company. It is the responsibility of HR to interview the candidates and choose the one who fits the required role.

Later, the HR is going to be supervising any needed training. When the employee begins to do their roles, the HR will be in charge of administering the benefits, and managing their days off, sick leaves, and promotions.

How can Odoo help the HR department?

Small and medium businesses may be able to handle their employees easily. Big corporations and the ones aiming to grow may find it more challenging. It is difficult to be in charge of tens or hundreds of employees. To overcome all the difficulties, Odoo created a set of apps for the HR department.

Odoo system offers six apps for the Human resources department. Employees, Recruitment, Time Off, Appraisals, Referrals, and Fleet. Each of these apps has various capabilities to help organize and run the work smoothly.

How can Odoo make recruitment more efficient? 

Recruitment is one of the basic tasks of the HR management department. Recruitment aims to find and bring good candidates to fill a vacant role in the company. When trying to expand your business, you will need many employees. Unfortunately, the process is not simple. Recruitment can take a long time between reviewing hundreds of CVs and interviewing shortlisted candidates.

Odoo recruitment makes it easier to attract candidates and check their CVs. One app can make everything simpler. You can prepare an ad with all the important information within a short time. The important skills and requirements needed will be defined easily. When reviewing CVs, you can sort and categorize applicants to make it easier to choose. 

Why can Odooerp help you with the time off? 

The management always focuses on working hard and increasing productivity. Getting enough rest is one of the best ways to stay focused on your job. Every company gives employees paid leaves per year. However, when you have a lot of employees, you need to make sure the absence of one does not affect the work.

You can organize the vacation schedule easily with the Timeoff app. it is a good way to track the days your employees have taken and check how many days they have. It can also be used to make it easier to put requests for days off where the HR manager only need to check the availability and approve or decline accordingly.

With good management of time off, the company can still be productive and provide a relaxed environment at the same time. Approving the times off and sick leaves will become easier than ever.

Better data to evaluate your team

An important part of the job of the HR department is to improve the employees’ productivity. To help someone improve, you need to know how good they are at any time. Odoo appraisal is the tool to help you with that. It is not only about helping employees get better; it can be used to show appreciation for the hard work made.  

With Odoo Appraisal, decisions regarding promotions, salaries, and raises get easier. You can use it to determine who should get promoted. The app can greatly impact the employees, making them feel more loyal to the company since their actions are recognized and rewarded. 

Finishing Lines  

This is only a glimpse of what Odoo is capable of. Contact us and let one of our experts explain how Odoo systems can improve your business further.