Headquartered in Mumbai, India, Indiabull Real Estate Ltd. (IBREL) Is a Large Real Estate

Situation

Headquartered in Mumbai, India, Indiabull Real Estate Ltd. (IBREL) is a large real estate company in the country and is listed on the Indian and overseas stock exchanges.

With 800 employees, IBREL is transforming 80 million square feet space in 16 cities into premium quality, high-end commercial, residential and retail space; transforming the real estate industry with its innovative and elegant designs, architecture excellence along with luxurious lifestyle and green living. The turnover of the company for the quarter ended in June2010 was U.S.$ 1.2 million (INR 5.58 crores).

Until recently, IBREL totally relied only upon the traditional Microsoft Office Excel worksheets for all its business requirements from leads generation and monitoring, to reporting, or closing of leads post sales processes; and even customer services. Leads were manually entered in Excel worksheets and forwarded to project managers in a rudimentary manner that prevented any checks and balances to monitor the leads. Consequently the outcome was not very promising. Lack of quantified results on leads generated, conversion rates, was one of the major challenges that the company envisioned.

The management identified that the leads generation wasn’t effectively tracked and systematically managed to its logical conclusion. Many a times, leads were either ignored or assigned to multiple resources. This resulted in conflicts and confusion and sometimes cost the company a potential customer.

Moreover, compilation of weekly and daily reports on pipeline opportunities was often neglected by sales executives. Manual follow-ups and accountability was a painful, time intensive activity. Too much time was wasted in reviewing notes, maintaining diary and looking back at information regarding individual calls, emails etc. Having to call regular meetings to go over each executive pipelining the effort to create realistic opportunity reports was a gruelling process. This pain was felt at management level.

To maintain customer database, manage after sales services to retain the customers, define custom processes and workflows across regions and business units was becoming increasingly difficult for the company. Inability to establish a consistent data structure that would extend the use of customer data across all business processes motivated the management to shed its traditional ways of working and opt for an integrated customer relationship management (CRM) solution.

Solution

IT managers carefully analyzed the existing business scenarios in the company. They explored the strengths and weaknesses of the available CRM products in the market like Salesforce.Com, Microsoft Dynamics CRM etc. for unmatched flexibility, cost efficiency and business value to match the company’s needs, strategic objectives and the budget.

“We realized that in this increasingly competitive environment, businesses must differentiate not only the products, but also the customer experience,” explains Deo K. Madhukar, Vice President, IBREL. “Microsoft Dynamics CRM promises us with focused ability to anticipate and respond to customer needs proficiently that can distinguish us from also-rans.”

IBREL thus opted for Microsoft Dynamics CRM 4.0. Directional Software Solutions (DSS), Microsoft Gold Certified Partner helped IBREL in the quick and effortless implementation in parallel with company’s day to day working. Implementation started in November 2009 in Mumbai office. The solution went live within two months, though custom modifications are still being implemented. IBREL now has over 60 users across multiple locations in India like Mumbai, Gurgaon, Chennai, Hyderabad, Vadodra, Ahmedabad, running on a single Microsoft Dynamics CRM deployment. The company is planning to deploy the solution across all its locations. Modules implemented are Marketing and Sales and Service.

The company identified that customization is one of the biggest strengths of Microsoft Dynamics CRM. Gargi Sharma, Assistant Manger, IBREL says, “We have already acknowledged CRM solution in our everyday working environment. CRM handles our business processes, workflows and data integration effortlessly. As we identify new business needs, DSS customizes the solution to fulfill our requirements without disrupting the normal functioning. What more we can ask for?” The solution has been customized for automatic lead allocation, bulk SMS and email integration along with reports generation.

An example of customization is automatic lead allocation. After every ad campaign, the company observes at least 300-400 leads or queries either through brokers, or direct sales or via other campaigns. Initially leads were entered in the CRM solution but allocation took place manually resulting in uneven distribution and conflicts amongst sales team. The solution is now customized for automatic leads allocation based upon the size of sales team. This increases efficiency, as the conversion rate is reflected in every sales representative’s performance reports. The disqualified leads are analyzed and appropriate explanations are demanded.

Bulk SMS and email integration ensure that all the significant information related to discounts, promotional schemes, gifts etc. is conveyed to all the potential clients in no time at all. The functionality eliminates duplication and errors and saves time as well as resources.

Various custom reports can be generated. Examples include source wise lead generated, daily booking activity, goal versus achievement, lead versus activity, leads converted.

Benefits

Dynamic CRM has simplified reviews, assists in quick decision making and develop a 360 degree customer view.

Enhances Lead to Sales Conversion Rate by 40 Percent

Microsoft Dynamics CRM provides comprehensive information about the status of the lead that could genuinely convert into business. It helps in immediate distribution of leads from multiple sources. “Automated allocation of leads, meticulous follow ups with timely reminders allow prioritization of leads based on time-to-close shortens the sales cycle,” elucidates Deo K. Madhukar, Vice President, IBREL. “We have observed that sales cycle has been shortened by 30 percent and the number of leads that convert to sales have increased by 40 percent.”

Improves Customer Retention and Loyalty by 40 Percent

With options for rigorous follow-ups, immediate responses to customers’ queries and automatic reminders as well as alarms, the solution assists in forging long term relationship with premium customers and earns customers loyalty for the company. Deo K. Madhukar, Vice President, IBREL says, “It improves stability in increasingly dynamic market, driving organization to become customer-centric and consequently earn more goodwill in the market, and indirectly positively impacts revenues.”

Improves Efficiency by 50 Percent

Real time reporting in new CRM solution allows mangers to view instant status on leads, opportunities and closed leads from their own computer. Earlier, this data would be collected during meetings, thus increasing productive time for both the sales team and the managers. Real time revenue projections coax managers to extract the best from their sales executive, thus keep them on their toes to give their best. Individual performance reports work as a catalyst. Disqualified leads are also accounted for. “Accountability has dramatically raised the bar on each individual’s performance by 50 percent. We spend far less time on sales administration such as commission calculations, forecasting and reporting, instead we focus our energies on actual sales,” declares Rashbihari Singh, General Manger, IBREL.

Transparency and Visibility Ensures Higher Adoption Rate

A central database provides real time updated data. Information flows unimpeded so that employees are assured of transparency. Leads generated in any part of the country are collectively monitored and uniformly distributed. Thus more and more employees are willing to use and benefit from it. Moreover the training curve is low for its usage is very similar to existing Microsoft Office Outlook. Thus acceptance and hence adoption amongst employees is good.

Deo K. Madhukar, Vice President, IBREL concludes, “Microsoft Dynamics CRM with its unique customization capabilities and integration abilities offers us numerous cost and time benefits. It allows us to take the advantage of existing investments in technology, resources and infrastructure to maintain and optimize the application.”

Microsoft Dynamics

Microsoft Dynamics is a line of integrated, adaptable business management solutions that enables you and your people to make business decisions with greater confidence. Microsoft Dynamics works like familiar Microsoft software such as Microsoft Office, which means less of a learning curve for your people, so they can get up and running quickly and focus on what’s most important. And because it is from Microsoft, it easily works with the systems that your company already has implemented. By automating and streamlining financial, customer relationship, and supply chain processes, Microsoft Dynamics brings together people, processes, and technologies, increasing the productivity and effectiveness of your business, and helping you drive business success.

For more information about Microsoft Dynamics, go to:

About Direction Software Solutions

Based in Mumbai, Direction Software Solutions (DSS) is a Trans-National Information Technology Services and Business consulting company with Indo-German Holding. Under the leadership of CEO and Chairman Arun Nayar, business development team consists of 250 proficient employees complemented by business managers, business analysts and business executives for IT services and business consulting & solutions. DSS provides end-to-end business solutions for a dynamic environment where business and technology strategies converge. It works both as a consultancy partner and a solution provider with its customers, guiding them through the process of identifying key requirements and exploring the various options before delivering solutions in an efficient and economical manner.