Real estate business investment units
BRAVO Software overview
BRAVO software (ERP-VN) that addresses specific REAL ESTATE BUSINESS INVESTMENT needs is a closed and comprehensive system, built and fine-tuned according to the management characteristics of each investor. BRAVO system fully meets the management operations and processes applied at real estate investment and business units such as: monitoring project investment process, managing construction process, streamlining leasing and selling process, centralizing customer service process...
Specific challenges
1. Industry specific overview
Real estate products and projects are basically separate from other products and goods, and there even exists extremely variable traits between real estate products (especially those associated with urban areas, buildings, adjacent villas…). Therefore, the units operating in this field also have their own management characteristics and different processes in all business operations, compared to other type of commercial and production enterprises. From the perspective of a unit specializing in consulting and designing software management solution, BRAVO identifies some unique characteristics of units operating in the field of real estate investment as follows:
- The investment capital is large and the project implementation time is often long: the mobilization and management of investment capital for projects involves the participation of many subjects, with many different forms of mobilization (investor's capital, capital contribution, loans from financial institutions, etc.), making the management and monitoring of interest rates more complicated.
- Directly influenced by political and legal institutions: accordingly, the management of documents and handling of internal operations in the enterprise must comply with the provisions of the law.
- Distinctive characteristics of real estate products: real estate products are different in value, in construction location, in design, in direction, etc., leading to separate operating procedures, business and policies management.
- Limited size of customer base: in Vietnam, buying real estate projects for use or investment is still the story of a few numbers of customers who have adequate income and financial conditions. Furthermore, business services are gradually becoming a competitive advantage of each enterprise. As a result, processes and policies related to sales, information management and customer service are especially important.
2. Operation process:
3. Describe main activities
When a Real Estate project is formed and licensed for investment - construction, the process of project documentation, appraisal and licensing will be done through many steps. Accordingly, in addition to internal procedures, the issues that arise directly are legal files and documents related to state organizations and administrative agencies. Therefore, monitoring and controlling the arising files and documents involved in the project is very important to investors.
- When projects are approved and licensed for investment, the official construction process is carried out, spanning many stages and involves specific departments such as: Technical Planning Department, Project Management Board.
- In addition to the member units that directly execute the project's items, there are cases where investors hire specialized contractors (consulting contractors, construction contractors) depending on each project. Therefore, the separation of bidding packages - preparation of bidding documents - organization of tenders - selection of contractors have to be done strictly, all information and operations must be managed to support the selection decision of quality contractors to execute the project.
- During the construction process, in addition to monitoring the project progress, investors are also required to monitor the funding and allocating materials to the contractor.
- When project and project items are completed, investors shall carry out the procedures of work acceptance and monitor the warranty - maintenance of contractors’ work.
- Distribution of real estate projects is organized in two basic forms: "investors directly distribute projects" and "real estate exchange platforms cooperate with investors to sign project distribution contracts”. As investors, in addition to monitoring business transactions arising directly, they also track arising jobs with real estate exchange platforms, which are managed and tracked through "capital contribution contracts", "deposit contracts", "purchase and sale contracts", "commercial lease contracts".
- In addition to interacting with sales staff, exchange platform and customers, investors also cooperate with financial - credit institutions such as banks, investment funds on forms of capital contribution, project support through “cooperation contracts”, between investors and credit institutions or “triple commitment contracts” between investors – banks – customers.
==> Accordingly, in the matter of project distribution, the management of all transaction information in a timely, accurate and quick manner will increase management efficiency with the investor units.
- The projects, after being distributed and put into use, will be exploited and added utility services corresponding to the items of the project such as commercial leasing floors and value-added services such as hospitals, school, sports club (swimming pool, tennis court, gym...).
- Investors are the units exploiting the above services, so good management of all transactions and arising activities will create advantages for service investors in the real estate market.
BRAVO Software solution applied
1. Database organization
The common feature of manufacturing enterprises is that the geographical area, scope of production and business are dispersed in many different locations and areas (offices, factories, sales warehouses, branches, ...). Therefore, in addition to the needs of customers, when building solutions, BRAVO will consult on the organization and streamline of data, in order to offer customers more convenience in business operations, strict management of arising problems and the ability to synthesize all activities in the production and business organization system.
a. Organizational model for updating and exploiting system data
As mentioned, because the locations where the software is used are spread across geographical regions, BRAVO needs to build a data system that combines a synchronous and distributed data solution to ensure the timeliness of data (servicing problems of inheritance, tracking and managing data arising), data continuity (to ensure continuous sales and production when there is a connection problem, reducing delay in transactions requiring continuity such as sales, goods import, etc.).
- Data model
- Description:
At the main office:
- Install 01 BRAVO software including “running program” and “database” on the server.
- In departments, computers that are allowed to access the software (Client) will be declared (machine name, user ID) and installed "running program" for users to update information and data into the software.
- Users will be managed and decentralized in detail according to each user's role in each and relevant departments.
At branches/member units:
- Install BRAVO software including only “running program” (not including “database”) on client computers. Users participate in the software to update and transmit online data to the server at the main office.
- Users are decentralized and authorized to ensure independence and responsibility when updating data into the system.
b. Division of user data layers at each location
In addition to inheriting data arising in the system, each department has its own independent and sometimes confidential operations with other departments. Therefore, for users' convenience in operating and manipulating the software, BRAVO divides the user interface into layers (Layout). Specifically:
Main office + Board of directors Layout + Sales Department Layout + Investment Department Layout + Technical Planning Department Layout + Accounting Department Layout + Human Resources Department Layout | Branches/Member units + Board of directors Layout + Technical Department Layout + Project Management Board Layout + Warehouse Department Layout |
c. Organize and disassemble software database
In order to easily monitor, manage and aggregate data arising at each location, BRAVO advises on data organization plans suitable according to each size of the enterprise. Consequently, the software's database will be divided into data trays corresponding to each location to receive, store and process data arising. And there is a consolidate data tray that plays the role of aggregating/unifying data generated throughout the system.
2. Handling specific business operations
a. Monitor investment process
Real estate project investment process usually takes place over a long period of time, generating a lot of documents from many different departments and agencies. Therefore, the management software system needs to separate the processes and manage all arising requirements and data:
- Update investment records and track project documents
- Update proposal for investment policy
- Monitor and approve investment policies
- Update project investment estimation
- ….
Some illustrated photos:
Update cost estimate
Update and track bidding package
b. Handle transactions at the Technical Planning Department
Contractor selection and project progress management are the main tasks of the Technical Planning Department. With a large workload and long-term monitoring process, the software system supporting businesses at this department plays an important role, helping the management and tracking of all arising activities.
- Update and track project information and project items
- Tender planning
- Bidding and evaluation and selection of contractors
- Update and tracking tenders
- Update and following up on procurement contracts for materials (provided for the project)
- Monitor the delivery of materials to contractors and projects
- Monitor payment status, capital settlement for contractors
- Update and monitor project acceptance records, project items
- Monitor the project's warranty period
- …
Some pictures on the software
Update listings, reviews and home selections
Update project progress
c. Handle transactions at the Sales Department
Sales Department is responsible for managing all activities related to sales and distribution of the project's products such as: cooperating with REAL ESTATE exchange platform, signing sales and leasing contracts, tracking construction debt, managing project document, handing over certificate of land use rights, customer service… Therefore, the software must separate small individual process and coordinate, support all departments in the sales department to manage the arising operations:
- Manage and track project status
- Manage and track deposit contracts at the real estate exchange platform
- Manage and track purchase and sale contracts
- Manage and track commercial leases
- Manage and track transferee contracts, contract history
- Monitor and manage contract debt
- Monitor status and project hand-over to customers
- Monitor certificate of land use rights issuing to customers
- Customer service
- ….
Some pictures on the software
Update product information
Update customer information
Update sales contract information
Update certificate of land use rights
Update minutes of handover of certificate of land use rights
Update minutes of transfer of land use rights
d. Handle transactions at the Accounting Department
- Cooperate with Sales Department to monitor and collect sales debt
- Coordinate with Technical Planning Department to monitor contracts and contractors
- Update cost estimates and collection by project (in case the INVESTOR directs construction)
- ..
Some pictures on the software
Update VAT Invoice
Update receipt payment confirm
Business efficiency with software application
1. Investment department:
- Manage and track arising procedures and records related to the project investment process
- Limit confusion and errors in the handling of investment procedures according to mechanisms, policies and laws
- Update and track the status and progress of the project
- Authorize and decentralize data management arising within the Sales Department and with other departments in the system
- …
2. Technical Planning department
- Provide management tool and track all arising activities during the project implementation
- Real-time and detailed data for each project - project item, support control and quick resolution of arising issues related to projects and contractors
- Control and monitor project progress against the construction plan
- Control contractor's activities and materials distributed to the contractor; monitor, check, accept, pay and guarantee construction items and projects related to the contractor
3. Sales department
- Control distributed products’ status (sold, in stock, blocked...)
- Control price list, price policy of apartments
- Monitor payment status, control and calculate overdue debt interest
- Monitor process of certificate of use rights to customers, apartments and projects handing-over
- Perform customer service in the form of: replying to dispatches, sending emails - mass sms
- …
4. Accounting department:
- Connect and inherit data with other departments, leading to the reduce of workload for the Accounting department in accounting, recording and tracking arising economic transactions
- Jointly support and control, track arising data with other departments in the system. Especially the issues of tracking debts (receivables / payables / advances) with objects such as customers, personnel in the company, suppliers ...
- Synthesize and control arising data of the whole company (consolidated reports, consolidated financial statements...).
- …
5. Board of Management
- Monitor and control work progress and status arising in each department
- Inherit and approve groups of data arising in each department (investment policy, written response, price list, purchase and sales contract...).
- Control and monitor the progress of project implementation, project construction
- ….
