Suite 506
Ardmore, PA 19003
Real Estate Manager
A multi-family residential real estate manager decided to replace its legacy accounting system with a fully integrated software solution. Union Park Consulting was brought in to provide subject matter expertise and additional capacity to the team during implementation.
9 months for new manager portal
Challenge
A multi-family residential real estate manager decided to replace its legacy accounting system with a fully integrated software solution that included a CRM, accounting module, and investor portal.
The transition required migrating and reconciling contact data, historical investor documents, mailing preferences, and 10+ years of historical accounting records. In addition, the project included the set up of a new investor portal to create a more seamless and secure manager reporting process.
Solution
The real estate manager hired UPC to provide subject matter expertise and additional capacity to its team during the implementation.
UPC provided surge capacity by assuming responsibility for data migration, reconciliation, and reporting in the new platform.
UPC’s expertise enabled a smooth migration and reconciliation of all data including contact data for 350+ investor accounts, historical accounting records across approximately 2,500 investor account/fund combinations and the reconciliation of categories, relations, and tags on 20,000+ documents in the new software solution.
During the data migration and reconciliation, UPC worked with the vendor to configure transaction types and definitions in the new platform so that certain metrics such as distributions to date, contributions to date would be calculated correctly.
In addition, UPC worked closely with the technology vendor and the Client to lead the testing and configuration for 15+ custom developed reports and 30+ saved searches. UPC received sample reports from the Client and worked directly with the vendor’s Business Analyst team to draft specification documents and complete the initial testing of the reports.
UPC leveraged its expertise with the software solution to ensure the manager’s processes were effectively migrated over to the new solution as well.
As an example, UPC worked closely with the real estate manager to set up its quarterly distribution process in the new platform. The newly established process relied on various saved searches that could be downloaded into a template to generate the output needed to calculate quarterly distributions.
On an ongoing basis, UPC provides consulting services to the real estate manager on best practices and how to maximize product utilization.
Union Park Consulting has been an invaluable partner, advisor, and liaison with the vendor as we implemented our new investor accounting platform and continues to optimize the software for growth, automation, and efficiency.
Results
UPC delivered a successful transition to the new CRM and accounting module in 15 months with all historical data migrated and reconciled within 8 months.
When the real estate manager used the new software solution to complete its quarterly distribution process, the manager reduced the time spent on the overall distribution process by 2 days due to efficiencies configured in the new solution.
UPC assisted the real estate manager in launching its investor portal for its first pilot group of clients 7 months after the implementation of the portal started.
