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ERP Implementation's Best Practices to Reduce Cost

Your company is held together by its ability to manage and integrate all of its essential business processes, which is accomplished through an enterprise resource planning system (ERP). ERP solutions, when effectively implemented, lead to increased efficiency, decreased operational expenses, and enhanced visibility and reporting into a company’s financials. And if you are a manufacturer or distributor, implementing an ERP solution can help you streamline your supply chain and gain a substantial competitive advantage over other businesses in your industry.

The deployment of an ERP system is an investment, and the costs associated with implementation can pile up quickly. There are times when ERP initiatives run over their budgets or their schedules. So, what steps can you take to address this matter? Your expenses related to ERP deployment can be limited or cut down using one of several available strategies. In this article, we have compiled several useful hints for you.

Take the Time to Plan and Budget

ERP initiatives that lack a comprehensive plan and budget often incur additional costs or go beyond the project’s initial scope. When developing the plan for the project, it is common for businesses to overlook certain crucial aspects of ERP adoption like What strategy do you plan to use for the transfer of data? Will there be any charges associated with the gear and the network? Which consultants are required for the project? Who exactly will be working on the project, and how will their day-to-day responsibilities be handled while it is being worked on? Etc.

If the answers to these questions are not provided at the outset of the project, the conclusion will be disorganised, leading to a rise in expenses in the future. That’s why it is better to find areas in which you can bring it in line with what you can spend on the project to bring it back into alignment with your budget or consider other options if your real expenses keep going over your budget. To keep the implementation expenses under control, careful planning and budgeting are necessary.

Determine the Right Enterprise Resource Planning Software for Your Company

It is necessary to carefully consider selecting an ERP solution to reduce the expenses associated with its deployment. It will cost you money if you choose an ERP system that does not satisfy your company’s needs and problems or requires you to purchase more capability than you require.

Choose an enterprise resource planning (ERP) system that is easily customizable according to your organization’s needs, flexible enough to adapt to the ever-changing requirements of your business, and modular so that you only purchase the functionality your company requires to keep costs under control. However, it would help if you were sure that you will be able to enhance the functionality in the future and that it has a long-term roadmap to ensure that it provides value for your money.

Avoid Customization That Is Unnecessary Or Excessive

It is a common practice for businesses to ignore their own needs in favour of piling on additional features and functions to their ERP systems, which is not the most effective strategy. Even while some degree of customization is required during the development of an ERP system, there are occasions when additional customization is both expensive and excessive.

Upgrades might be difficult to perform if there is excessive customization because the customized code normally needs to be updated anytime the vendor delivers a new version. Therefore, you should focus on the most pressing needs of your company and become familiar with the many operations within the system.

After you have completed the ERP functionality that is most critical to you, consider adding additional capabilities. It is important to keep in mind that the amount of customization that is applied should be kept to a minimum as much as feasible, given that it will increase both the price of implementation and the amount of time required for the ERP project.

Consider the Long-Term Effects of ROI

During the implementation of ERP, a plan must be in place that accounts for both the best-case scenario and the worst-case scenario for potential expenditures. Before beginning a project, you need to calculate your ROI (return on investment) and consider how your choices will affect your company in the long run. This needs to be a substantial component of the business case for your ERP system. Because they were so focused on short-term, low-upfront cost savings and overlooked long-term goals, some of the most cost-conscious businesses had to pay a hefty price for their ERP implementation.

When you take shortcuts, you risk facing problems and losing out on opportunities to generate a larger return on investment.

To make a long tale short, neglecting best practices might be useful in cutting upfront expenses. Still, to improve the value of your product and reduce the risk, your project’s strategy should be created to achieve a long-term return on investment.

Make the Most of the Expertise Offered by Your ERP Partner

Make the most of your ERP consultant’s time if you employ an ERP consultancy to assist you with implementing your software. You shouldn’t rely on them solely for their technical expertise; you should also depend on them for their business savvy. In an ideal scenario, they should be involved in all parts of your ERP project, including the selection process, the management of processes, the implementation, and the management of change.

You may also make the most of their experience by asking for their assistance in training and receiving continuing support for the product. If you want your ERP deployment to go off without a hitch, one of the most important things you can do is hire the correct ERP partner.

Conclusion

ERP implementations frequently go over budget and end up being rather expensive, but this doesn’t have to be the case. Your company will be able to reap the benefits of an ERP solution while simultaneously positioning itself for long-term success. If you create a budget based on reality, plan the project by the business’s specific requirements, and adhere to the best practices for ERP implementations.

About Us:

Highbar Technocrat Limited, an SAP Gold Partner, helps clients in India and abroad to help them manage change. Highbar adopts an integrated approach to help you rethink your business, with a high level of agility and efficiency. At Highbar we see disruption as an opportunity to help clients transform their business with granular solutions. Handling change requires confidence in decision making and Highbar enables this confidence in clients.

Our forte is offering digitally integrated solutions for the Infrastructure, EC&O, Real Estate, Mining, Oil & Gas, Power, Smart Cities, Government, Manufacturing sectors, and a lot more. Our domain expertise combined with the ERP helps clients become intelligent enterprises and highly receptive to the needs of customers. With our strategic alliances, we help clients transform business operations, leverage data, and integrate sustainability to match the speed of change.

For further information, don’t hesitate to contact us by e-mail at enquiry@highbartech.com or call at +91 89767 11399.

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TOP 10 REAL ESTATE BUILDERS IN MUMBAI

Mumbai is currently ranked third among all global cities by the Globalization and World Cities Study Group (GaWC) as an “Alpha World City.” Mumbai, among the top cities in the nation for business startups, is home to the third-most costly office market in the world. As India’s economic capital, this city’s real estate is in high demand. The real estate sector in Mumbai has been booming, breaking records for the number of property registrations. The real estate industry is primed for investors, from residential spaces to commercial property.

So who are the top builders in Mumbai? Each real estate developer in Mumbai boasts world-class facilities and top-level construction projects. So any property from the builders on this list would be a perfect investment property.

Real estate agents in India are individuals or companies that help individuals buy, sell, and rent properties. They act as intermediaries between buyers and sellers and assist with negotiations, property viewings, and paperwork. They often have extensive knowledge of the local property market and can provide valuable guidance to clients. The role of a real estate agent is to make the process of buying, selling, or renting property as smooth and stress-free as possible for their clients.

List of top 10 builders in Mumbai

1. Lodha Group

The Indian global real estate corporation, Lodha Group or Macrotech Developers, originally Lodha Developers, is based in Mumbai. In 1980, Mangal Prabhat Lodha created it. They are currently one of the biggest builders in Mumbai, so they top our builders in the Mumbai list. The corporation is commended for developing Palava, an integrated smart city near Mumbai. Residential and commercial properties have been created by it in Mumbai, Thane, Hyderabad, Pune, and London.

In its 42 years of experience, it boasts 341 projects, including Lodha Altamount, a concept for a contemporary, opulent residential skyscraper in Mumbai’s billionaires’ row; The World Towers, a 76-floor skyscraper in Mumbai; Lodha Bellissimo, a twin residential skyscraper project; and Lodha Park, a 17.5-acre construction for a high-end residential skyscraper in Mumbai’s affluent Worli area. It also has 177 original projects making it the most prestigious of all the top real estate companies in India.

2. Godrej Properties

Godrej Properties Limited is a real estate business headquartered in Mumbai, India. The business was founded in 1990 by Adi Godrej and is a division of Godrej Industries Ltd. Over 89.7 million square feet of projects are currently being developed by the business. According to the Global Real Estate Sustainability Benchmark, it is ranked first among Mumbai’s listed global real estate builders.

With 32 years of experience, it has completed 171 total projects and has 106 ongoing projects. 

Godrej Properties has received more than 250 honors and awards in recent years, including “The Most Trusted Real Estate Brand” by the Brand Trust Report in 2019, “Real Estate Company of the Year” at the 9th Construction Week Awards 2019, “Equality and Diversity Champion” at the APREA Property Leaders Awards 2019, “The Economic Times Best Real Estate Brand 2018,” and “Builder of the Year” at the CNBC-Awaaz Real Estate Awards 2018.

3. Rustomjee Constructions

Over 20 million square feet of provided space, 12,300 content households, and 2 township developments make up the Rustomjee legacy. This property developer company prides itself on being thoughtful, building better homes in Mumbai to better its investors’ lives, and taking pride in its corporate social responsibility and all its employees.

It has 26 years of experience with 102 projects, of which 28 have yet to be completed. It mainly specializes in residential spaces, but all its spaces come with a company quality guarantee. CIA World Magazine awarded Rustomjee Seasons the Best Redevelopment Project of the Year in 2020.

  4. Dosti Group

This group has been dealing with real estate for 42 years and has developed more than 127 projects. They have a portfolio encompassing around 11.44 million square feet, including residential and commercial spaces. They are currently constructing 15 projects of around 6 million square feet around Mumbai and Thane.

Customers highly regard the company for its high-quality goods, worker efficiency, on-time project delivery, and reasonable costs. In addition, the organization has always concentrated on building eco-friendly commercial and residential areas to promote sustainability.

5. Wadhwa Group

A building and real estate development business called The Wadhwa Group was founded in Mumbai, India, in 1969. The organization, one of Mumbai’s top real estate firms, is now creating townships, commercial, and residential projects that total about 1.4 million square meters (15 million square feet). The Wadhwa Group has won numerous accolades for its commercial and residential properties. Awards from the “International Property Awards Asia Pacific” and the “Asia Pacific Property Awards 2013-2014” are among them.

In their 52 years of experience, they have constructed 74 total projects and have 38 ongoing projects. It includes more than 100 corporate tenants and more than 20,000 residents in the residential area.

6. Kalpataru Group

One of India’s top real estate firms was founded in 1969 called Kalpataru Limited. With over 53 years of experience in real estate development, they have established new benchmarks and won numerous international design and quality awards. The company’s vision is to be a brand renowned as an industry leader for its thoughtfully designed, high-quality, creative living environments, acknowledged for its customer and employee practices, and to create long-term relationships with stakeholders. 

It has a total of 146 projects, with 62 ongoing. The Kalpataru Group is renowned for building Mumbai’s tallest tower in the 1970s.

7. Oberoi Realty

Oberoi Realty Limited has had a prominent position in the Indian real estate industry for over three decades. Their goal is to design areas that improve people’s quality of life. It is a 1980-founded property development firm with its headquarters in Mumbai. As a company, it values passion for innovation, quality, and integrity. The group’s motivation stems from a desire to uphold integrity and responsibility while raising its current standards.

It has had 25 past projects and 6 ongoing projects. The two most notable developments are “Exquisite,” a building that offers opulent 3 BHK apartments with square footage ranging from 1,690 to 1,820, and “Oasis 2,” a landmark development that offers roomy 4 and 5 BHK apartments in Worli.

   8. Indiabulls Infraestate

Indiabulls Infraestate Limited was established as a public limited company on January 4, 2007. It’s a subsidiary of Indiabulls Real Estate Limited. This company has more than 23 years of experience and has worked on 43 projects. They currently have 14 ongoing projects.

It is a division of Indiabulls Real Estate Limited, which had a consolidated net value of Rs. 4,754 crores as of March 31, 2017. In addition, Indiabulls Real Estate Limited possesses a sizable, completely funded land bank totaling more than 1010 acres (excluding the 2500 acres of SEZ property available for construction).

9. Hiranandani Developers

One of the biggest real estate developers with headquarters in Mumbai is the Hiranandani Group. Their area of expertise is upscale townships with condos, penthouses, bungalows, and commercial buildings. Several startup businesses, investment banking firms, venture capital firms, and BPOs are also housed there, and the organization has expanded into the fields of health, education, energy, and hospitality.

With 44 years of experience, 176 total projects, and 46 ongoing projects, this company makes good use of its years of experience since it was established in 1978 to build complexes from Powai to Thane West. It is one of the best real estate companies in Navi Mumbai, topping the list of builders in Navi Mumbai.

10. Mahindra LifeSpaces Developers

Mahindra Lifespace Developers Ltd. is an Indian company with its main office in Mumbai that develops infrastructure and property. It was established in 1994 and is a member of the Mahindra Group. Under the Mahindra Lifespaces and Happinest brands, the firm develops residential communities. In addition, it develops integrated cities and industrial clusters under the “Mahindra World City” and “ORIGINS by Mahindra World City” brands.

It has 28 years of experience and has a total of 129 residential, commercial, and retail projects, of which 12 projects are ongoing, and 5 are new. In addition to 8.84 million square feet of active or ongoing residential projects, the company owns over 16.39 million square feet of finished residential projects. One of the mammoths of the construction industry, this is a perfect choice if you are looking for a property in Andheri East, Mumbai.

Choosing a Builder

So who is the best builder in Mumbai? With this list, you can assess each builder’s strengths according to your particular needs. Even amongst the top builders in Mumbai, the investors’ needs should be prioritized. Looking at the past projects undertaken by the builders, assessing the quality of construction materials, and going through the awards and achievements are advisable when deciding on a builder to invest in. A construction company’s years of experience also come in handy, proving that they know the real estate market and how to build lasting properties. 

All these builders have some of the best construction quality in Mumbai, guaranteeing that if you choose one, you will make an investment that lasts a lifetime. With Mumbai’s booming real estate market, it is better to strike while the iron is hot and take advantage of the housing market by investing with these builders.

Frequently Asked Questions

Who is the No. 1 builder in Mumbai?

With its years of experience, numerous awards, such as “Top Developer of the Year” for the project, The World Towers, at the Times Real Estate Icons of West India by The Times of India, “Project of the Year,” and “Top Super Luxury” segment homes, and “Top Township Project” at the Times Real Estate Icons of West India (2020) [as well as “Outstanding Project of the Year” (National Category) for Palava at the Golden Brick Awards, Dubai (2019), and prestigious projects spanning 30 million square feet of luxury property, the Lodha group is by far the no. 1 builder in Mumbai.

How do I choose the best builder?

With the number of builders in the industry, choosing the best one is paramount. Factors such as their years of experience, awards, achievements, the number of projects undertaken, and customer reviews of their projects are essential. However, every individual’s needs are different, and you must choose the right builder based on your personal needs.

How can you tell if a builder is reliable?

Along with checking the builder’s years of experience, the awards they have won, and their projects, interact with the homeowners associated with them by visiting the builder’s completed projects. You can use this to determine the developer’s adherence to the developer’s quality standards.

Which builder has the best construction quality in Mumbai?

Being a multi-national company trusted by many, with various projects and accolades, the Lodha Group has the best construction quality in Mumbai. They use the most recent building technologies, which makes them effective, and their years of experience and international standards make them the best in the game.

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In this video, we have provide information about real eatste project in wakad, pune. project has world amenities with seamless connectivity and premium quality specification.

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Experion Group | New-Launch Real Estate Project in India

Experion Group is one of the best leading Real Estate developers in India. Experion Group developers Many Real Estate Projects all over India. Experion Group Upcoming Residential is a community where like-minded people with a mixed outlook. Are you looking for the best real estate project, then you can come to visit the website and call us.

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Ambience Creacions Luxury Project In Gurgaon

Ambience Group is ready to launch a new residential project “Ambience Creacions“; in sector 22, old Delhi-Gurgaon highway. Ambience Creacions are gated condominiums with international standard security, and green landscaping spread in 18 acres in fully developed neighborhood. Ambience Creacions stands out not only because of its quality, architecture and international standards but also because of its prime location to make it very easily reachable. To name few of the projects: “Lagoon” Residential Apartment Complex, Gurgaon; The Leela Kempinski, Gurgaon, Ambience Mall, Vasant Kunj, New Delhi; and Corporate Office Tower, Gurgaon are some of the successful projects under our belt already.