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PROPHIA RESULTS SUMMARY: IMPROVED SYSTEM FOR PORTFOLIO MANAGEMENT
Increased leasing efficiency with everything in one place and less time spent digesting different spreadsheets.
Faster reporting that eliminates manual data entry and scrubbing in order to compile necessary information.
Minimal training required for team members to quickly come up to speed on new portfolio details, in some instances cutting orientation time by nearly half.
CHALLENGE: NEED FOR A SINGLE SOURCE OF TRUTH
Before The Schuster Group began using Prophia in 2018, the company juggled multiple technologies and systems in order to manage their information, create new leases and provide oversight on properties. With spreadsheets for every report, lease, and tenant, asset management became cumbersome and overwhelming.
Generic shared file systems and accounting software did not generate the right type of information they needed. As a result, they had to review all lease details, data points, and report specifics multiple times to ensure relevancy and accuracy. Ultimately, the company knew it needed a more reliable system for efficient and scalable portfolio management.
“I felt Prophia listened and was customer-driven. Other systems were clunky. Prophia met where I was and where The Schuster Group was, seamlessly. ”
SOLUTION: PROPHIA'S DATA MANAGEMENT PLATFORM
The Schuster Group was very cognizant of the time it took to manage their growing portfolio. Before Prophia, given the company’s culture of high touch, high detail approach, Holly felt she needed one person for every building.
It took upwards of a week to get a new lease into their accounting software, develop the lease summary, double-check for accuracy, and distribute and perform oversight of the team’s output. As a result, with oversight and the stress of oversight, Holly felt like she needed two sets of eyes to go through every single detail.
With Prophia’s Data Management Platform, all lease documents are scanned in, lease summaries are automatically generated, and everything is ready to go. Prophia eliminates multiple steps.
Prophia’s non-disruptive approach to integration also fits in with The Schuster Group’s exacting processes and standards.
“I felt Prophia listened and was customer driven. Other systems were clunky. Prophia met where I was and where The Schuster Group was seamlessly.”
Holly Gardner, President
With the Prophia Platform, CRE companies like The Schuster Group can obtain data directly from its source, break the dependence of important insights on metadata, and create intelligent, integrated capabilities that minimize human intervention, thereby improving both speed and accuracy of their vital lease information.
By extracting BI-ready data directly from its sources and making it available in easily digestible formats, Prophia gives building owners and investors a competitive advantage with a unique opportunity to mitigate risk, reveal business opportunities and elevate decision-making across individual assets, markets and entire portfolio.
Commercial Real Estate (CRE) professionals who use Prophia Cloud access critical lease information from anywhere in the world in a centralized, cloud-based platform. Prophia extracts meaningful lease data and dynamically tethers it to source documents, making custom reporting, modeling, exporting, and data reconciliation more advantageous for all CRE executives and acquisitions teams.