Efficacy of Microsoft Dynamics NAV Implementation for the Real Estate Industry

By | October 20, 2014

It is well-known that Microsoft Dynamics NAV  is a highly effective ERP (Enterprise Resource Planning) software tool. The capabilities of NAV in quickly enhancing the company’s competency and growth is not limited to any particular sector, instead businesses across a broad range of industries can gain from it. Real Estate industry is one such industry that stands to gain immensely by using NAV. This is primarily because NAV has a very powerful financial management module, which makes it a hit for a capital intensive sector like real estate. Other useful management modules of Dynamics NAV further make the Microsoft ERP solution the perfect choice for a real estate company. The key advantages of Microsoft Dynamics NAV implementation for the real estate industry are:

  • Business planning and execution: Real estate industry is an extremely challenging industry that needs the business owners to be very prudent in their planning. One needs to discreetly plan everything from project costing to collaborating with suppliers and sub-contractors, continuously track the cash flow & pricing, and comply with the changes in Government regulation. Dynamics NAV with its efficient planning module can be a great help for such planning, helping the users in project planning, budget planning, site selection, construction and tracking regulatory approvals. Dynamics NAV integration also enables the users to execute highly complex tasks with great transparency, which helps the real estate companies to speed up their processes.
  • Smart sales management: Sales management in the real estate sector involves managing many different projects, location and brokers simultaneously, which make the process very tedious. NAV offers a common roof to all of them, providing the owner/manager with clear visibility and control over the projects, their respective plans, bookings and customer details. NAV’s CRM (Customer Relationship Management) module helps the salespersons of the company to engage better with the potential buyers by responding to their queries quickly and tracking their response well. This includes discovering hot opportunities, providing sales executives with new leads, maintaining response details for the contacted leads, tracking and following-up on the basis of the received response. Thus, Dynamics NAV integration enables the companies to help them make the most out of the available opportunities by better managing and converting the available leads.
  • Ease maintenance and improvement of units: Not every real estate company deals in building and selling real estate property units, some also deal in leasing or renting their property units to commercial, industrial and individual users. Such companies need to regularly maintain, and even upgrade their unit’s infrastructure. However, tracking the last maintenance work or renovation of a property unit becomes very hard if the company has many property units spread across distant locations. In such cases, MS Dynamics NAV customization can be of immense help by keeping well-updated records of last maintenance, complaints received by the tenants and scope for modernization, helping it to schedule the maintenance and renovation works accordingly. Also, the company can set alerts or reminders for such works to ensure that it does not accidently stray off the schedule it had prepared.

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