Positioning Principles: Relentless Execution Focus
BuildSupply was created to fill a very major gap in the industry that no one was addressing. And to do a good job of servicing our customers we need happy employees.
Your summarized and important views on the latest technological usages..
Build Supply is a very distinctive and an innovative SaaS enabled platform that is the most advanced and comprehensive end to end ERP solution available for the Real Estate and
Construction Industry. Our product “Cost Manager” was commercially launched in January 2017. This is a cost management and procurement software specifically designed for real estate and construction projects in India. We created a standardized database of line items, which is now upto 13 million line items and is helpful to be used across all asset classes like residential, commercial, hospitality etc. The product has modules for creating Cost Plans, developing BoQ’s,
Procurement, E-tendering, Billing and Invoicing, Vendor Management, Material Store and Planning in the system.
Opinion on the construction sector and concepts of technology..
Well…being the second largest employer in the nation, the sector is much under penetrated in terms of technological adoption and automation. But this is changing fast with stricter government policies and RERA being implemented. The developers currently are under much more pressure than ever before to speed up work and be more transparent in their execution.
These factors have led to huge increase in the demand for tech intervention including digitizing work flows, data backed decision making and predictive analytics.
Digitizing workflows has substantial benefits – One of the key advantages of digitization is for project managers to be able to receive real-time notifications of movements in KPIs wherever they are at a site, en-route, etc., so they can take immediate action when necessary.
Digitizing work flows offers real estate and construction companies a fast and efficient way to achieve visibility into real-time profitability and project management, as well as an easy way to enhance productivity, project delivery, and improved practices.
Future technological business plans and strategies.. We are getting a great response from the market in terms of SaaS adoption and penetration of our SaaS product. As I mentioned earlier we have close to 50 Million square feet on the system now. Further, we are planning to increase the range of our services with the launch of a reverse auction module in the next couple of months. This feature as the name suggest will be like a conventional auction but in reverse. The vendors will bid their services and products on a live real time platform to be awarded by the developer based on matched terms and conditions. In the long term, we are projecting our business to evolve as full-fledged marketplace where the developers can procure the required services and material directly from our systems skipping various steps and associated margins in the supply chain.
Generalize a perspective on the budget nominated to the industry and your financial objects attached with it.
The finance minister has said that the government will create a dedicated Affordable Housing
Fund (AHF) in the National Housing Bank, funded from priority sector lending shortfall and fully serviced bonds authorised by the government of India. He also added that in line with the government’s “Housing for all by 2022” program, more than one crore houses will be built in rural areas under the Pradhan Mantri Awas Yojana (PMAY) Scheme.
None of this will be possible without the ample use of technology so we feel this opens up a great market for us. There are 12000 developers registered with CREDAI pan-india. I think they all are potential clients for us.
Therefore, we see it as a balanced one with the government focusing on affordable housing being great for a growth push but it will take a couple of years for it to come to fruition as the companies will have built up their team and infra to execute on this scale.
Your mantra for success.. No matter how big your company is or how much funding you have, your customers are your only ‘true investors’ and the employees of a company are the ‘true partners’.
