A brand new digital technique allows the developer to drive buyer and worker expertise and intensify its market influence.
Singapore’s largest personal property developer Far East Group has constructed greater than 780 developments together with over 55,000 houses within the nation since its institution in 1960. Along with its property buying and selling operations, the corporate with 2,500 staff owns and manages a multi-segment actual property funding and leasing portfolio comprising residential, hospitality, retail, industrial, healthcare and industrial properties with a complete web lettable space of over 14 million sq. toes.
Far East Group’s Group Data Expertise (IT) staff spearheads the conceptualisation and implementation of sturdy IT options to help this huge and various portfolio. The aim is to facilitate the sustainable development of the enterprise with agility in a quickly evolving setting. By way of its Group IT Digital Lab, Far East Group launched into a digital transformation journey with a view to reinventing the client expertise, enhancing operational effectivity, productiveness and worker engagement, and harnessing the worth and potential of its digital property. Central to this effort is a method to leverage cloud applied sciences to construct a safe and scalable digital enterprise know-how platform which allows the staff to quickly develop and deploy customised options to handle varied enterprise and organisational wants.
For its achievements in harnessing digital innovation to advance its buyer and other people technique, Far East Group emerged the winner within the Digital – Actual Property class at this yr’s SBR Expertise Excellence Awards.
Notable achievements by Far East Group embody:
The launch of a digital gross sales equipment to help the sale of residential and industrial properties, at One Holland Village Residences and Woods Sq. respectively.
The event of analytical dashboards to drive income administration of the company actual property leasing enterprise by decreasing emptiness ranges and optimising rental charges primarily based on aggressive market pricing evaluation.
Improvement of a workflow system to route and seize inside administration selections and approvals involving greater than 200 improvement and funding corporations inside the Far East Group steady. This e-Memo system considerably lowered the quantity of handbook paperwork that’s nonetheless prevalent inside the actual property business, significantly for processes associated to building and improvement tasks. The clever on-line workflow has additionally resulted in improved communications, information administration and effectivity within the Group’s built-in work processes.
The event of autonomous software program bots utilizing Robotic Course of Automation (RPA) applied sciences to automate handbook, repetitive processes inside the hospitality administration, human assets and knowledge know-how departments.
The Group IT Digital Lab additionally leveraged its experience to handle the unprecedented disruption to the enterprise introduced on by the COVID-19 pandemic. An in-house customised app was developed to trace staff’ work preparations/places, temperature and different associated well being and journey declarations, and to alert the best organisational personnel for motion. An identical app has been developed for guests to the Group’s property gross sales galleries and present items, and is prepared for deployment when viewing is allowed to renew. Collectively, these options goal to maintain our prospects, companions and employees members protected because the enterprise re-starts on a robust footing whereas staying compliant with protected administration measures mandated by the authorities.
In accordance with Far East Group’s Govt Director and Group Head of HR & IT, Jodie Choo, the Digital Lab allows the Group to seize new worth, quickly turning modern concepts into tangible options that ship enterprise advantages. “The options additionally present insights that have been beforehand unavailable, which permit us to higher perceive our prospects, the market and the overall actual property panorama.” she concluded.
Watch the interview under to know extra about their successful venture:
The Expertise Excellence Awards, introduced by Singapore Enterprise Evaluation, was held by way of video conferencing all through the primary and second week of June.
This yr’s nominations have been judged by a panel consisting of Daryl Pereira, Head of Cyber at KPMG; Cheang Wai Keat, Head of Advisory Providers in Singapore and ASEAN Expertise Consulting Chief at Ernst & Younger; Chin Chee Choon, Advisory Chief and Assurance Director at Nexia TS; Rizwi Wun, Accomplice, Appearing Head of Mental Property and Expertise Observe Group at RHTLaw Asia; Carolyn Chin-Parry, Managing Director and Digital Accelerator Chief at PwC.
If you need to hitch the 2021 awards and be acclaimed on your firm’s distinctive technological improvements, please e mail Julie Anne Nuñez at [email protected]