Compass Real Estate
Compass Real Estate is a private real estate investment and development company. The company focuses on acquiring real estate assets from distressed sellers that have the highest likelihood of value recovery over time.
In order to keep track of loans acquired from banks, Compass staff used a variety of individual Excel spreadsheets to crunch data on individual projects. The problem is, using individual Excel spreadsheets didn’t allow them to quickly and easily share data, nor did it allow them to quick run summary or historical reports.
In addition to managing dozens of Excel spreadsheets, Compass staff needed to manage hundreds of thousands of PDF documents for loan information. The volume of work was staggering and the staff’s inability to quickly search, find, and work with data was limiting their ability to make informed decisions about their business. The time involved in storing and categorizing the documents alone was staggering.
Compass knew there had to be a better way to manage this data. Compass hired 360Works and developer Michael Glasowitz worked with them to design and develop a database to help them manage their data. Using 360Works SuperContainer, he developed a document management system to allow them to track all documents in a central location.
Next, he developed a custom function that helped them to sort and classify the PDF documents based on criteria the bank gave them. This allowed staff to more easily access the proper documents and to flag those documents according to the bank categories or bookmarks.
Implementation of the new document management system allowed staff to quickly and easily access data related to each individual project. Instead of sifting through dozens of documents, they now have a centralized system that eliminates duplication of effort and streamlines their analysis process.
Compass estimates that the ability to separate and categorize PDFs alone will save them $100,000 per year. In addition, the team can now more quickly analyze and report on overall business goals with ease. This helps them make more informed decisions about their business in order to deliver efficient, high quality service.
Download a copy of this case study in PDF form here.
Copyright © 2006-2018 Prometheus Systems Consulting, LLC d/b/a 360Works. All rights reserved.