From “difficult” to “easy”: Real estate industry seeks solutions for management of centralized data sources
With a suite of specific solutions for construction – real estate industry developed on SAP platform, FPT Information System Corporation (FPT IS) has been accompanying multiple “key players” in the industry, step by step creating the “best practices” in handling a problem of huge data, the most typical challenge in the real estate industry in Vietnam.
As complex as real estate data
Digital transformation is taking place rapidly in industries with a high rate of technology adoption such as banking, finance, telecommunications, and especially hot development areas like real estate. New models such as smart real estate, smart ecosystem, smart utility services, proptech platforms, etc. have emerged and increasingly flourished in the second wave of digital transformation.
However, digital transformation in real estate companies in Vietnam is of relatively low degree. Almost all construction – real estate companies have been adopting IT just at a basic level. Meanwhile, the industry’s problems are extremely complicated, such as managing thousands of contractors at the same time, monitoring the progress of hundreds of projects, or managing cash flow and capital flow in the company, etc. Real estate business often includes extended projects and product cycle, multiple stages, with different parties involved. Therefore, the problem is how to manage progress and problems which arise throughout the project duration in a smooth way, thereby ensuring the commitment to quality and service with customers. The huge and overlapping volume of information generated every hour always requires the power of technologies to optimize and reduce system load and resources, thereby enhancing profits and creating momentum for sustainable development for companies.
Data centralization – A leap forward for real estate companies
In order to quickly overcome such challenges, real estate companies need to determine that technology will be one of the important assets that need special investment. Speaking of the role of technology in real estate data problem, Mr. Dinh Huu Hung, Deputy Director of Software Production, FPT IS, says: “Technology will help comprehensively centralize data in the value chain of products deployed from time to time. Building a decent core system will ensure the life cycle of different products in the ecosystem with high connectivity in business operations”.
Citing the opportunities regarding business expansion when adopting digital transformation, or especially the construction of a centralized data management system, Mr. Hung mentions the project deployed for an industry unicorn, An Gia Group. “The digital transformation project with An Gia covers almost all complex issues of the real estate industry, from scattered and fragmented information across 36 member companies, to the challenge of linking information chain in real estate brokerage regarding brokerage, deposit, investment cooperation, sales and purchase contracts, etc”.
A suite of SAP-based solutions developed by FPT IS helps connect and centrally manage data, optimizing the entire chain of business activities.
Addressing the goal of expanding business, increasing the number of products launched to the market in an exponential way annually, a centralized management system that smoothly and seamlessly links data is determined by leaders of An Gia Group as top priority. Accordingly, An Gia has chosen to deploy SAP S/4 HANA solution as per FPT IS’ advice. The system is implemented by FPT IS based on comprehensive understanding as well as its own set of “know-hows” developed on the basis of this global standard. Deploying SAP S/4 HANA, An Gia now has in hand a complete business management system with built-in smart technologies, including artificial intelligence (AI), machine learning (ML), etc. As a result, An Gia is now able to expand the ecosystem, increase revenue and accelerate growth.
FPT IS has implemented a digital transformation strategy for An Gia in two phases. Phase 1 is a 4-month phase of rapid implementation, focusing on tackling prerequisite issues for departments of finance, accounting, and daily sales, helping to standardize and centralize data on a single platform. Phase 2 will be implemented in 5 months to complete the solution, focusing on helping An Gia enhance capabilities of project progress and project quality management, as well as improve the company’s contractor assessment and selection methods. Some achievements have been made after phase 1, such as, all working processes have been optimized from “paperwork” to “paperless”, reports take only 5 minutes to retrieve, and especially, the performance to handle customer contracts is 3 times higher.
Deploying SAP S/4 HANA, An Gia has in hand a complete business management system with built-in smart technologies.
Before An Gia, FPT IS has had opportunities to accompany many “key-players” in the industry, enriching knowledge and continuously upgrading the suite of SAP-based specialized solutions for the real estate industry. For example, 100 days of streamlining entire business processes, building a comprehensive and in-depth digital management platform for construction management for Coteccons, creating new digital transformation standards with Dat Xanh Group on a scale of 90 companies nationwide, or projects with other large companies such as Phat Dat, Filmore, TNR, etc. Such digital transformation projects have uplifted FPT IS to a new level in terms of digitalization capabilities for the real estate industry, helping customers standardize all business processes, building highly transparent architectural systems, closely linking operational processes in business and corporate governance activities.
Data centralization will help companies ensure integrity, timeliness and accuracy of information, effectively supporting all major governance decisions. Accordingly, the adoption of SAP S/4 HANA, a specialized solution for the real estate industry, has gradually become the “best practice” that is widely deployed. As a leading technology company, FPT IS will take advantage of its knowledge of the industry, put in the best resources to develop solutions directly addressing customers’ needs, helping customers optimize costs and benefits throughout the entire chain of operations.
