THE CHALLENGE
The creative and tech-forward Asset Management Team is responsible for a vast portfolio spanning 27 states and 850 sites. Managing these assets is a complex job requiring deep domain expertise and a lot of hard work. But that’s not all the team is responsible for. They also maintain the associated documents and analyze the language, terms, and commitments contained therein — tasks that demand even more diligence and time. On top of that, the team faces challenges including:
- Bringing previously outsourced asset management tasks back in-house
- Effectively managing leases across extensive projects and portfolios
- Capturing and truly understanding data from a variety of sources, including decade-old PDF’s
- Having complete clarity around ownership
Many of these problems are all too familiar in the Asset Management space. As the team explains,
“That’s been a challenge within our organization — just being able to compile lease information, make payments on time, store that data properly and quickly reference it.”
The team had a vision for a better way and sought out ThoughtTrace as a solution.
“It was a pretty natural fit because of the amount of data, commercial documents, and agreements that we work with,” they say.
Before they could start bringing their vision to life, they needed buy-in from the entire organization. Taking charge, they championed ThoughtTrace themselves, showing their colleagues what the solution could do by putting it to work on their documents and leases.