How YIT Uses BuiltMind
| Company | YIT |
| Industry | Residential Development |
| Location | Europe |
YIT
With over 110 years of experience, YIT is a respected developer committed to creating better living environments for its customers. They build functional homes for sustainable living, future-proof public and commercial buildings, and infrastructure that facilitates the smooth flow of people, businesses, and society. YIT employs approximately 5,000 professionals in nine countries including Finland, Sweden, Norway, Estonia, Latvia, Lithuania, the Czech Republic, Slovakia, and Poland. In 2022, the company generated a revenue of EUR 2.4 billion.
🛠️ Challenge
Before adopting BuiltMind’s solution, YIT relied on purchasing reports for data collection and market monitoring. These reports contained static data and were only available quarterly, requiring manual searches for updates. If YIT needed more frequent data updates, they had to purchase them at high costs. The company’s main goal was to have a better understanding of the market and to access more frequent data updates.
💡Solution
With BuiltMind, YIT is able to leverage the whole product offering of BuiltMind, significantly speeding up processes that were previously tedious and error-prone. Team members can easily access the data and use them for various purposes, which differ across the company.
Reflecting on the most important features, YIT recognizes several game-changing features in the BuiltMind solution. The daily updates are a standout, providing YIT with real-time information, a significant improvement from the infrequent quarterly data they relied on before. The platform monitors the entire market, enabling YIT to gain a more comprehensive understanding of its industry. In the past, YIT’s reports only covered a portion of the market, limiting their insight. Lastly, the interactivity of the web app is a notable benefit as they previously received static PDF reports, limiting their ability to interact with the data.
BuiltMind’s solution provides value to almost the entire company. The development, acquisition, sales teams and management all leverage data from BuiltMind to make informed decisions.
📈 Outcome
BuiltMind enables YIT to stay on top of market trends, providing easy access to essential information without the need to download cumbersome price lists. With BuiltMind, YIT can effortlessly monitor the market, always be aware of the latest developments, ensuring that they remain informed and prepared to take action.
I had an idea for a solution such as BuiltMind 10 years ago. I was waiting to see who would come first with such a solution. My dreams are coming true.
💼 Strategy
BuiltMind’s impact extends throughout the entire company, saturating it with valuable data. Data and charts are presented in a user-friendly and easy-to-read format.
BuiltMind helps YIT with the following processes:
Acquisition
- Daily data collection and mapping of the entire market (including project availability and dates of approvals)
- Searching for new projects
Market monitoring
- Identification of competitors and their offerings
- Tracking of sales and speed-to-market for projects
- Comprehensive information on sold units
Market reporting to the board
- Insights into sales and price development
- Comprehensive data on demand for specific areas
We recommend BuiltMind to anyone looking to navigate the market and stay up-to-date with the latest data. Whether you are a data expert or a newcomer to the field, BuiltMind’s data is presented in an easy-to-read format, making it accessible to everyone.