Prestige Estates Projects Limited
Overview
The Challenge
- Inefficient manual retrieval of hardcopy documents
- Missing or misfiled documents hinder business processes
- Unable to track personnel's access of documents
- Lack of a proper audit trail of documents
The Solution
- Therefore™ document management solution
- imageFORMULA document scanners
The Results
- Quick and easy information retrieval
- No more missing or misfiled documents
- Easy tracking of information access
- A clear audit trail
Business Overview
Prestige Estates Projects Limited, a real estate property development company in South India, has completed over 201 projects spanning more than 78 million square feet since its inception in 1986. Presently a public-listed company, it handles 60 ongoing projects covering over 61.33 million square feet, with another 36 ventures in the pipeline. Prestige Group has firmly established itself as one of South India's most successful developers of real estate by imprinting its indelible mark across all asset classes. Prestige's expertise leaves footprints in major cities across South India including Bangalore, Chennai, Hyderabad, Kochi, Mysore, Mangalore and Goa. As an industry forerunner, Prestige has developed Retail Malls, Large Townships, Tech Parks, Luxury Villas, SEZs and Hotels such as Conrad, Sheraton Grand & JW Marriott amongst others.
The Challenge
Growing Mountain Of Paperwork
As business continued to soar, so did the amount of property documents. These include paperwork relating to property loans from banks, deeds relating to ownership of the properties as well as a wide array of customer documents from booking to registration forms. The average tenure of a project is about three to four years with the average correspondences amounting to some 250 pages. These would house vital information such as booking dates, details pertaining to the customer, unit, cost and payment.
Old Ways In A New Landscape
Over the years, Prestige has amassed a vast collection of hard copy documents which are frequently accessed by personnel from the Legal, Sales and Marketing and CRM departments in the company. The retrieval process was manually operated by a Document Controlling team. The personnel would place their requests for the required documents, after which the team would search for them in filing cabinets and hand over the physical copies. Upon completion of use, the documents would be collected and filed back into the same location. A log book was maintained to track the ins and outs of each document.
Need For Speed And Accountability
Communications with clients normally take place through e-mails, and data accuracy as well as the speed of retrieving information are extremely important. In today's landscape of technological advancement, the old process is no longer adequate to serve the needs of the company. Apart from the slow retrieval process, the company also finds itself plagued with the perils of loss and misplacement of critical documents, a lack of audit trail and inadequate document tracking.
The Solution
Achieving Workflow Efficiency
With the implementation of Therefore™ document management solution (DMS), Prestige's document retrieval process underwent a massive overhaul, allowing the different personnel to access the required documents quickly and securely. An electronic filing cabinet is created and hard copy documents are captured using Canon imageFORMULA document scanners. They are then indexed and organised together with other related documents in the form of electronic files. The workflow design functionality allows the Document Controlling team to monitor and control the flow of information within the company. It also allows for the flexibility to define workflow processes and document storage policies. To preserve the integrity of information, the users work closely with the Document Controlling team to upload new documents into the system.
Easy On The Users
The Results
