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In the event you’ve ever watched a James Bond movie – from Dr. No to No Time to Die – you might have seen “EON Productions” within the credit. “EON” stands for “The whole lot or Nothing” – a phrase that might simply as properly apply to the Status Group, one in every of India’s main actual property builders.
To get a way of simply how massive the corporate looms, simply look to the skies. The subsequent time you’re in Bangalore or Mumbai (or Hyderabad, or Calicut, or Chennai for that matter), likelihood is you’ll see one in every of their landmark buildings actually towering over the city panorama.
However the firm’s stature isn’t only a query of top. From futuristic city malls to sedate lakeside villas to sprawling luxurious resorts, Status’s tasks cowl actually a whole bunch of tens of millions of sq. ft of Indian land – 170 million accomplished to this point with one other 170 million underway.
The candy scent of extra
What’s extra, the Status identify isn’t simply aspirational; it’s descriptive. Luxurious, exclusivity, and high quality are the widespread denominators of the conglomerate’s twenty distinct manufacturers, which vary from actual property to hospitality (accommodations and resorts) to inside design to males’s trend.
Backside line: all of it provides as much as greater than ~130 billion Rupees ($1.6 billion) in annual gross sales.
With all these enormous numbers you is perhaps tempted to assume that the important thing to Status’s success is extra, however that will not be true. In truth, one of the crucial spectacular numbers that mark this firm’s outstanding monitor file of steady progress and enchancment is. . . zero. Sure, you learn that proper. Zero, as in nothing, and meaning the whole lot to them.
Let me clarify.
An excessive amount of, too quick, however nonetheless too sluggish
So, the extra it grew, the extra Status needed to battle with a bunch of inefficiencies of their interactions with clients. Necessary communications corresponding to sending account statements, fee reminders, and different time-sensitive notifications needed to be managed manually by way of quite a lot of legacy techniques together with electronic mail, snail mail, and so forth, often taking two to a few days to finish. For Status and its clients, that wasn’t ok.
The corporate wanted to streamline and pace up the communication cycle and to automate the numerous repetitive duties concerned within the real-estate gross sales and rental cycles, eliminating paperwork and lowering the danger of errors related to handbook processes.
Thus, to reduce delayed funds from clients, Status Estates automated account statements and due fee notifications, relieving their staff of the burden of getting to handle a number of interactions manually.
When nothing is the whole lot
Status was already working a lot of its enterprise operations on SAP S/4HANA ERP platform, so it was solely pure for them to show once more to SAP for an answer that might combine seamlessly with their current techniques. And SAP delivered within the type of SAP BTP (Enterprise Know-how Platform), which brings collectively knowledge and analytics, synthetic intelligence, utility growth, automation, and integration right into a single unified surroundings within the cloud.
The brand new system, applied in a matter of months, delivered a right away return on funding – automating repetitive duties, bettering operational effectivity and compliance – drastically lowering cycle occasions, and lowering the variety of handbook communications with clients to… you guessed it, zero!
Due to the brand new Enterprise Know-how Platform, buyer communication administration is fully dealt with by Unattended BOT. Buyer onboarding and grievance administration course of for all clients is totally automated by way of the BTP buyer portal. All buyer documentation and fee choices at the moment are out there for Status clients on-line.
The ability of zero
Buyer interactions that used to take a mean of two to a few days now take… oh, about 5 minutes. In enterprise phrases, that’s kind of the pace of sunshine. If it’s not precisely zero, it’s fairly darn shut.
Final 12 months (FY23) the corporate noticed a year-on-year product sales enhance of 25%, reaching its highest ever Gross sales figures.
So clearly, the ability of zero is actual: it frees up time and assets for significant, high quality interactions that add worth for purchasers. And this, in flip, creates worth for Status when it comes to larger Gross sales immediately and better buyer satisfaction and loyalty tomorrow
Extra has been a profitable system for Status, however the firm understands that even extra has its limits. The corporate had been, so to talk, saved by zero (with apologies to The Fixx.) And by embracing the ability of zero, Status is guaranteeing that its alternatives for progress are nearly limitless.
For his or her work, the Status Group was chosen as a winner of the 2023 SAP Innovation Awards within the Transformation Titan class. To get the total particulars of what they achieved to earn this prestigious honor, see their Awards pitch deck.
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