CMC Consulting expert shared the key to Real Estate Business Administration in the Digital Era

CMC Consulting

23/09/2021

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The live webinar “Digital Ecosystem - A platform to help Real Estate Businesses break through the pandemic” organized by CMC Consulting Joint Stock Company (Successor company of Ciber-CMC Joint Venture Joint Stock Company) and SAP Vietnam attracted 100 business representatives on September 24, 2021.

Within the framework of the exchange, experts from CMC Consulting and SAP provided an overview of the industry-specific difficulties and the challenges that Vietnamese real estate businesses faced during the pandemic. Therefore, propose a roadmap for technology application to transform production and business activities, so that businesses and organizations can proactively solve problems and be strong breakthroughs during the pandemic.

According to Mrs. Nguyen Hang Thu - Vice President and Director of Advisory at CMC Consulting, the challenge of Real Estate businesses, in general, comes from the industry's business model. There are four typical problems include:

Complicated organizational model: Many companies are established corresponding to investment real estate projects. In addition, the complexity is reflected in the diversified operating model in investment fields, the management board, construction, general contractor,...

Due to the complicated organizational model, it leads to inadequacies in making cost estimates, controlling costs, project budgets, bidding package costs, or construction cost items such as materials, labor, services. Besides, Marketing or sales activities are always ahead of construction activities, leading to difficulties in controlling actual costs with the initial revenue/cost forecast.

Data is not synchronized, lacks a complete view of the overall financial picture, and the merging of administrative indicators is done manually and does not immediately affect decisions on business strategies and policies. Not aiming to improve customer experience, customer information management is not centralized and lacks sharing and security;


Along with the development of society, today, the needs of clients in the real estate field are not simply buying a house, how many meters, or how many bedrooms, instead customers buy digital services, living solutions, buying experiences from a digital ecosystem that creates the brand value of Real Estate Businesses. Therefore, the most urgent problem for real estate businesses is to build a DIGITAL ECOSYSTEM to connect customers and businesses.

The webinar is shared on Live Webinar Zoom platform

Covid-19: Challenges and Opportunities for Real Estate Businesses

The negative impact of Covid-19 on the Vietnamese economy in the first 6 months of 2021 is clear. However, besides the negative consequence, Covid-19 promotes a rapid digital transformation in all aspects of life, from consumption habits to shopping to lifestyle behaviors. In reality, real estate businesses that have strategic vision associated with technology, capable of data-based analysis are the leading market despite the difficult economic situation.

Therefore, the new technology trend of real estate businesses needs to have a technology platform large enough, good enough, but flexible enough to meet future problems and most importantly, the total cost of development should be reasonable to bring the system into operation as soon as possible. Mrs. Nguyen Hang Thu also emphasized: "The value of the business will increase right from the start of the project from 1.7% of the value and exceed the threshold of 13% of the market value at the time of project completion".

Digital transformation strategy for Real Estate Businesses

The big question for real estate business managers today is how to effectively implement Digital Transformation for organizations when the business model is increasingly diverse and complex, are distributed organizational structures and processes inconsistent?

“It is necessary to define a transformation strategy according to priority and based on a unified and intelligent technology architecture foundation” - Mr. Triet Tran, Industry Business Architect SAP South East Asia emphasized in the seminar.

According to Mr. Triet, real estate businesses have 5 strategic priorities in terms of corporate governance, including Information and knowledge management of the entire organization on a digital platform; Digitize the entire project management process before - during - after to provide data throughout; Link data and merge information between member units in the group; Ensure commitment to customers and finally Digitize supply chain management.

After identifying strategic priorities, real estate businesses must ensure that strategic visions are transformed into business processes of departments and divisions from Sales, Human Resources, Procurement, Management project management to Operation and maintenance.

Mr. Triet shared: “SAP solves all challenges from strategic vision to operational management on a single platform called The Intelligence Enterprise”. Through this platform, real estate businesses can control the two biggest weights of the digital transformation process: Optimizing Operation and Enhancing competitiveness through diversification and product flexibility.

By applying SAP S/4HANA, businesses can manage all business processes from start to finish (End - to - End Process), including Product Design, Subcontracting Management, Sales & Billing, Project Management, Service Management. These processes are handled automatically and transferred to consolidation at the finance and accounting module to build a unified financial reporting system, and at the same time, ensure the ability to forecast cash flows to help the management have instant parameters for quick decision making.

SAP also allows businesses to use the most advanced technology platforms such as AI & ML (artificial intelligence and machine learning), RPA (robot automation), BC (Blockchain), or IoT (Internet of Things) easily and quickly. This is the key to help real estate businesses "take a shortcut", using the most modern techniques as a springboard to help solve current problems, as well as ensure their ability to develop quickly in the future.

Image of a Virtual Real Estate Agent using AI & ML technology

 

The Q&A session with the Webinar Speakers was very lively when many questions were asked to exchange between participants and experts. Questions ranged from customer conversion rate issues in the customer journey chain, to implementation questions about how to move from the current system to the platform RISE with SAP. At the end of the seminar, Mr. Triet affirmed: “CMC Consulting and SAP always accompany the digital transformation needs of businesses, customers should discuss with experts at CMC Consulting for consulting support and identify the most efficient optimal route”.

Established in 2008, CMC Consulting is honored to be the Gold Partner of SAP Vietnam, a leading reputable provider of consulting services and implementing business management solutions. With more than 150 leading ERP consultants and experience in successfully implementing ERP systems for many businesses in the domestic and international markets, CMC Consulting is committed to customer success by quality services and optimal price competition. We are always ready to support and answer all your feedback via email contact.cmcconsulting@cmc.com.vn; Hotline: 02471065555 (Ext-8700) or Website https://cmcconsulting.vn

CMC Consulting - Empowering Businesses During the Digital Transformation!

 You can download Webinar Presentation Materials: HERE

 Contact us:

Hotline: 024 7106 5555- Ext: 8700

Email: contact.cmcconsulting@cmc.com.vn

 



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