Over the last decade, the real estate industry has seen a significant transformation in how sales are conducted. Previously, it was an investor-driven market, where buyers purchased inventory to sell at a higher price later. Today, the focus has shifted toward direct customer engagement, making it essential for builders to manage leads, nurture client relationships, and close deals efficiently.
A Customer Relationship Management (CRM) system plays a vital role in streamlining sales operations, enhancing customer engagement, and improving overall efficiency. However, when CRM is integrated with an Enterprise Resource Planning (ERP) system, the benefits multiply—creating a seamless workflow from lead generation to property handover.
Understanding difference between and CRM and ERP for Real Estate Sales
A CRM solution will handle lead management and maybe bookings. An ERP will handle lead management which will be seamlessly integrated to bookings, allotment, invoicing and collection management, amendments and cancellations. A truly integrated system ensures a smooth flow of information across departments, reducing errors and improving operational efficiency. There is a need for builders to move from a software to a solution where processes allow them to achieve last mile impact of organizational efficiency by providing comprehensive customer engagement.
Farvision ERP is a well-recognized market leader that offers a unique combination of lead management (pre-sales), CRM (booking to possession), and in-depth project-wise accounting for real estate businesses. This comprehensive approach ensures that builders move away from using different software to complete different processes of the customer management journey.
Importance of synced accounting
Customer acquisition should be considered complete only when sales data seamless flows to finance. If CRM and accounts data do not sync, discrepancies arise, leading to errors in financial reports and endless reconciliation between sales and accounting teams, And often data can just not be tallied. It is very difficult to ensure that your sales team understands the requirements for accounting. The psyche of the sales team is aligned towards selling and customer handling, and normally they do not comprehend accounting. This results in the situation where CRM is working in isolation and accounting is working in isolation.
Even if the CRM is integrated with stand-alone accounting software like Tally or ERP solutions like SAP, there is a loss of project oriented data as Tally and SAP are not built for the real estate industry where projects stretch across multiple financial years. Another important aspect to be kept in mind which is unique to real estate builders is that one company usually has many projects and sub-projects. So check whether project and sub-project wise accounting can be maintained in your system.
Updated Inventory and Price lists
Traditionally, a CRM software will not be able to provide real-time information on unit availability, and manage price list specific to a project or campaign. An ERP should let your sales team handle more business without increasing manpower costs and chaos, i.e. helps you to manage to grow without increasing expensive operational errors.
- Project wise real-time inventory updates on available, blocked, and on-hold units across the organization.
- Accurate pricing structures with campaign-specific price lists and effective dates, reducing confusion within the sales team.
- Instant and accurate quotes, enabling quick responses and avoiding pricing mistakes
During product launches, the sales team is can efficiently handle the extra work load and overall work is a more efficient manner.
Enhanced Customer Experience
A buyer’s journey is a key differentiator in building customer trust and satisfaction, leading to higher referrals and repeat business. To ensure a smooth experience, CRM-ERP integration is crucial. Only with an in-built ERP backbone can you reliably provide advanced solutions to your customers. You don’t have to worry about data correctness as your accounting is automatically getting done with different transactions of the CRM process, not being manually done by different people.
- e-Collection through payment gateways and virtual accounts directly updating financial records is only possible where the accounting is a part of ERP, solution is not limited to CRM.
- Online booking forms provide updated inventory status and instant payment link options.
- Customer portals and mobile apps provide direct access to financial details, invoices, receipts, and outstanding payments—without relying on external API integrations.
A comprehensive solution for Channel Partner management
- Automated bill payouts for channel partners, tracking every step of the transaction.
- A dedicated mobile app and portal that allows partners to track customer collections, bill submissions, payments, and outstanding balances—without relying on external API-based solutions.
Project Updates and Revenue management
Construction and sales revenue have to be in sync for the organization and that is only possible where the Project Management, Sales and Finance are available within one software, as provided by Farvision ERP. Once information about the project’s progress is available, the following can happen:
- Automated demand and invoice generation based on construction progress.
- Customer notifications with real-time updates, including photographs and videos of project status. This aids customer communication and helps the sales team in collecting payment.
- Improved revenue forecasting & reporting
- Track budgets vs. actual spends for better financial planning
An ERP enhances data analytics and reporting, helping businesses adopt a data-driven approach for better results.
Collaboration for enhanced productivity
Real estate sales involve multiple stakeholders, including sales, marketing, finance, and legal teams. An ERP promotes
- Seamless collaboration across departments ensures the teams work without having to re-enter data. Example, when a demand is raised for a customer in CRM module, the accounts posting is automatically done in the Finance module.
- Fewer errors due to real-time data sharing, enhancing accuracy and efficiency.
This end-to-end workflow enables sharing of information and ensures that all teams work in sync to make the organization work efficiently.
Conclusion
A comprehensive ERP and not a stand-alone or integrated CRM is a necessity for real estate businesses aiming for better business management and improved customer satisfaction. Alignment of sales data with financial records is a must have with so many financial and statutory compliances to take care of.
A well-integrated solution like Farvision ERP offers a robust, real estate-specific CRM that seamlessly connects sales, finance, and project management—driving business growth and success.
