The year-end closure of the financial year is usually the busiest and most important for enterprises. And that is exactly when the Covid19 pandemic and the subsequent lockdown hit as governments around the world started taking drastic measures to slow the spread of the novel coronavirus.
“These are the last and most important months from a business perspective. Like many other industries, these are testing times for real estate as well,” says Hitesh Singla, Co-Founder & CIO at Square Yards, a technology-enabled transaction and aggregator platform for global real estate. But that has not deterred Square Yards from making April as the blockbuster month as far as transactions are concerned.
Square Yards CRM, also called Square Beats, recorded around 900,000 interactions per week. They themselves couldn’t have anticipated the unprecedented results but as they say hard work pays in any situation.
“When Lockdown started, if we had announced from our rooftops that we will have April as the largest and biggest month, probably we would have been considered crazy. But hey, ppl who are crazy enough to change the world – they only change the world. As Steve jobs once said, Round Pegs in Square Holes. So lo and behold – we hit the perfect 1000 real estate transactions for the first time in SQY history,” says Tanuj Shori, CEO, Square Yards in a Linkedin post.
The company understood how important a role technology could play as an enabler in these disruptive circumstances. The organization took several steps to mitigate the crisis and leveraged several cutting-edge technologies to keep the lights on. The workforce was ready to adapt to this unprecedented situation.
“We always knew just how important technology is, in getting us where we want to reach. Our determined sales team works from home, equipped with mobile technology and enables knowledge of all the products and search capabilities according to the need of clients,” points out Singla.
Sharing of information on email and social media such as Whatsapp was facilitated at just the click of a button. Realizing the need of the hour, the company launched a digital platform that automates the complete value chain of a real estate transaction starting from presales with online virtual tours and 3D walkthrough capabilities. A real-time inventory blocking engine is integrated with multiple payment gateways and post sales module for submission of online applications with digital signatures.
“Experiments with machine learning helped us find old clients/enquiries and with whom we could touch base again,” recounts Singla.
Well, as they say, fortune favours the brave. Square Yards has shown to the world how a difficult situation can be turned on its head with optimism and enterprising spirit. This is indeed one of the few positive stories in a swathe of depressing ones.