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In4velocity eyes realty software biz

BS Reporters  |  Kolkata 

The surge in the real estate sector has triggered off the need for developing enterprise resource management softwares(ERMS) that would take care of 360 degree requirements of the developers, and this has indeed spawned newer avenues for software solution providers like In4velocity systems, that provides end-to-end process automation and management through a software benchmarked for the real estate and property development industry, called In4Suite RE.
In4Suite RE is equipped to help the developer or client to automate business processes right from land acquisition to engineering, from purchase to sales, and from rental to property management.
"It has 16 distinct modules along an integrated platform that provide real time view of the business, like legal liaison, construction budgeting and management and others. It even takes care of location specific requirements of the project developers who have sites in multiple locations. A decent amount of functional knowledge of the vertical was required to develop a software like the In4Suite", said Rahul Chawla, chief executive officer of the company.
Unlike the traditional ERP software, which is about reporting data, In4Suite RE enables data analytics, and data mining, Chawla claimed.
It is an entirely web based application and thereby can be accessed any time and on any device, like a cellular phone.
The software is priced at a range from Rs 25 to 50 lakh for Indian clients, the price depending on the number of user interfaces.
For overseas clients it can go up to Rs 1.6 crore, informed Chawla.
A recurring annual fee of 15 per cent of the overall cost charged by the company.
The $3 million Bangalore-based company is looking at tapping the growing real estate market in Kolkata.
According to the company estimates, the real estates market in the city is expected to be at Rs 40 crore, growing at the rate of 30 to 40 per cent every year.
"We expect the region to contribute to about five to seven per cent of our total revenues earned", said Chawla.
In4velocity currently operates from four major hubs, Bangalore, Delhi, Kolkata and Mumbai, and is looking at expanding to 27 other major cities in the country in the coming three years.
In all, 18,000 developers were estimated to be operating in these cities, which the company aimed to tap.
The company partners with other software solution providers like Tally, and Oracle for integrating domain specific applications like accounting and database management into their end product.
It is looking at integrating the 'Revit' software form Autodesk Inc. with the In4Suite RE, that will give the client a visual idea about an upcoming apartment, and would also provide specific information about the cost factors involved in putting it up.
The client could choose from the range of products and value additions that he wants for his apartment, and the software would instantaneously calculate the cost of the end product.
This will further help the real estate developers to offer customised services to high end clients.
In4velocity was keen on tie-ups with business process and auditing consulting firms, to use their consulting arm for the implementation of the software.
This would greatly reduce the product implementation time, and thereby contribute in scaling up their business network.

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First Published: Wed, August 08 2007. 00:00 IST