Article: Enterprise approach delivery advantage
Property Council recently spoke to Luke Fleming, Industry Manager, TechnologyOne about how enterprise-wide software solutions give property developers a single source of truth when it comes to reporting on and analysing business critical information.
“A vast amount of information needs to be shared throughout the development lifecycle. Everything from feasibility analyses and cost estimations through to evaluations of historical project delivery and sales cycles are traditionally undertaken in bespoke, siloed systems,” he says.
“The problem with this approach is that there is no ‘single source of truth’, not to mention a consistent methodology for reporting and budgeting.
“An enterprise approach enhances confidence in the integrity of the data – but it doesn’t stop there.
“In large organisations with operations across a range of sites, an enterprise approach breaks down geographical and time constraints, and supports collaboration and mobility, with information available anytime and anywhere,” Fleming adds.
“The key is that information is centrally available – so you can spend 80 per cent of your time analysing the data, identifying areas for improvement, and working collaboratively across the business and throughout the property lifecycle, rather than spending 80 per cent of your time hunting down the figures, duplicating information across departments and manipulating spreadsheets.”
Industry 4.0 says first movers are focused on building entire ‘digital ecosystems’ – and they are gaining a “nearly insurmountable advantage over competitors”. Fleming agrees. “Companies that don’t invest in an enterprise approach will lose competitive advantage,” he warns.
Originally published on the Property Council Australia's website.