According to statistics from the Ministry of Planning and Investment, in the first 9 months of 2022, the number of newly established real estate enterprises was 7,124 enterprises, an increase of 31.9% over the same period last year. At the same time, the number of employees working in real estate also reached the threshold of 200,000 employees, accounting for nearly 4% of the total number of employees. Facing the growth of the industry, real estate enterprises in Vietnam are actively looking for technology solutions to optimize day-to-day management and operations to improve their competitiveness.
Challenges in corporate governance
A recent survey of real estate businesses in Vietnam conducted by FSI – a leading company in the field of providing digital transformation in Vietnam – shows that the above organizations are all facing a common challenge that corporate governance is not as expected.
Specifically, the characteristics of the business and human resources in real estate require the majority of employees and managers to travel a lot during the day. They need to timely grasp the status of the construction site, update the project progress, and meet partners and customers, so they rarely work permanently at the office.
With such a work nature, in the process of daily operations and transactions, real estate companies face many problems in human resource management and work operation. Specifically, it is difficult for superiors to grasp the employee’s work handling status; the approval of procedures is often delayed, internal business processes are not flexible, or there is always a delay in updating or sharing project information or data. According to FSI experts, these problems can easily be seen from the limitations of the traditional manual management method. Real estate businesses lack a suitable system and tools to manage and operate their work online.
Expectations for an effective corporate governance solution
In a conversation between FSI and T.T Real Estate Investment Joint Stock Company, a unit that has nearly 10 years of experience and is implementing dozens of real estate projects across the country, Mr. N.T.T – Head of Planning Department Technical shares: “In the past time, T.T has actively searched and deployed technology solutions to handle the problem of human resource management and work operation. However, the current system has not achieved the desired effect and has many limitations in features. We expect a corporate governance solution that suits T.T’s unique characteristics.”
Customized automation business solutions – Solution for real estate
Capturing expectations from T.T in particular and real estate companies in Vietnam in general, FSI offers a business automation solution that is flexibly customized according to customer needs. At the core of the solution, FSI will provide a powerful system capable of supporting enterprises in real-time work management, online business process processing, and at the same time, building an archive convenient shared digital data.
From actual needs, T.T decided to change the previous management system with a customized business automation solution provided by FSI. This solution will help T.T have a transparent work management system, visualize work processes, and decentralize approval of procedures anytime, anywhere. In addition, users can share documents quickly while ensuring high security.
Ms. Nguyen Thu Giang – FSI consultant shared the advantages of the business automation solution developed by FSI: “The business automation system of FSI has a friendly design, easy to use with all employees of the company, with the ability to flexibly customize, help optimize according to the needs of all departments in the organization. Besides, in addition to providing an effective business management solution, this is also a powerful data management system in FSI’s digital transformation ecosystem, ensuring long-term companionability with T.T on the journey of comprehensive digital transformation of enterprises.”
With 16 years of experience in the field of digital transformation for businesses in Vietnam, FSI ensures to build a business automation system that meets the needs of customers. Moreover, the FSI team is committed to accompanying and consulting solutions throughout the digital transformation journey of real estate in the future.
Contact FSI today for specific advice and implementation of appropriate digital transformation solutions for agencies, organizations and businesses.