Integration is the first step in turning data from dust collector to actionable asset. A Life of the Asset™ commercial real estate software solution like Pereview can put your data to work for your firm.
Increasing challenges abound for growing real estate investment firms. As the number and value of assets under management increases, the data produced from those assets also increases, sometimes exponentially.
Consider an investment that has been operating for a few years. When originally acquired, underwriters used Excel to create the financial models. Over time, a cash flow projection tool complements (or replaces) Excel for financial modeling. A separate third-party tool tracks rent rolls, a different software package manages financial transactions and accounting, and Excel manually captures loan transactions and balances.
Assembling the data for a quarterly report requires interfacing with four or five different sources of data to compile all the necessary information. Even more complications arise when dealing with files on a network, as not all portfolios will organize their files similarly. Knowing the type of technology and software used to store the data is not sufficient; it may also be necessary to hunt for the correct files somewhere on network drives.
Data governance occurs only in isolation in this environment; there is no mechanism to ensure data is consistent across all toolsets. This is a challenge for integrating data – to obtain meaningful information regarding an investment. Fully leveraging data to transform it into information means integrating data scattered throughout the organization into a centralized location.
This one clean repository produces consistent reporting and avoids producing multiple versions of the truth. Data is conformed across all areas of the business, to provide a complete view of an asset, from acquisition through disposition. Responding to internal and investor requests for reports requires less time and effort. Finally, clean and integrated data allows the use of advanced analytic and artificial intelligence solutions yielding answers to previously unknown questions.
This is what Pereview Software can do for your firm.
Integrating with multiple disparate sources, Pereview transforms the isolated data into a consolidated, robust repository of information. Create standard formatted reports for financial reporting and reporting to investors in minutes rather than days. Take advantage of advanced analytics tools by utilizing the fully integrated and consolidated database – which provides insights far exceeding anything previously available through simple Excel reporting.
So, what are you waiting for? It’s time to do more with your data by pulling it into an integrated, secure, actionable, Life of the Asset™ solution.