Big Wins for One of America's Largest Asset Management Teams - ThoughtTrace
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Big Wins for One of America’s Largest Asset Management Teams


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.



Once the team decided to start with ThoughtTrace, it was full-steam ahead. Their first goal was to tackle document compliance — an especially important objective in the legal world. Along the way, they also worked on identifying ongoing tasks and obligations during onboarding.

“The exporting and extraction function is really valuable,” they note, recalling the early days of their ThoughtTrace journey. “It’s one thing to have highlighted text within a document; it’s another thing to actually be able to see it in front of you.”

Their vision was to be able to push documents into the platform, easily select different provisions, customize facts and tag with language specific to the company. When ThoughtTrace platform delivered on this goal, the Asset Management team moved onto a related but even bigger project: extracting e-terms and data from lease agreements.

“A crucial point of onboarding is being able to acquire and manage leases across a number of projects and portfolios,” they explain. For example,  the team needed to answer similar questions about a number of different lease documents, including “what’s the price,” “what’s the rent” and “how often is it paid” — all in a centralized place so the data remained accessible and reliable. Naturally, the ThoughtTrace platform delivered once again.

One of the Asset Management team’s ultimate goals was to give themselves real ownership over their documents. Now, that’s not just possible — it’s simple. “Anyone can go in here and say, ‘This is the information I need,’” the team says, “because it’s already right in front of you!”

“Anyone can go in here and say, ‘This is the information I need,’” the team says, “because it’s already right in front of you!” Asset Management Team
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The Asset Management team couldn’t be happier with the results of their ongoing ThoughtTrace journey.

“Whenever you can uncover the most important details in a matter of seconds, that’s very powerful,” they say — and, laughing, they add, “We don’t know if we’ve really, truly been able to quantify it.”

These days, tasks that otherwise wouldn’t get done are possible and easy with the ThoughtTrace platform. Take, for example, searching. The team explains that one topic spans 346 documents, and just getting those documents into a single file would take hours — let alone having to search through each one.

According to the Asset Management team, “It’s a task that would make someone throw their arms up and say, ‘I can’t believe I have to do this!’” Now, they can organize and search through files, extract data and share it across their internal platform, all without “carving out a huge chunk of time.”

Another functionality the Asset Management group is especially excited about is bookmarking. The ThoughtTrace platform allows users to create a specific search across multiple sources, set customized criteria and save these queries as bookmarks. Better yet, when Asset Management users upload relevant documents, the data is automatically added to existing bookmarks. The team calls it “a library of things you’ve done within the platform,” explaining how bookmarks help emphasize and highlight their analyses.

Going forward, the Asset Management team has made sure the future is just as bright — if not brighter.

“What we’re doing now is pushing that outward, making it much more widespread, continuing to realize value,” they say. “Hopefully we can be a use case for other groups within the firm.”

The rest of their vision involves linking multiple tools — and people, too. With help from the ThoughtTrace platform, the Asset Management team hopes to give their entire organization more visibility into their documents, empowering them to take ownership of data and have meaningful, insightful conversations with clients. As the company knows, bringing people, processes and the platform together is a winning combination — a “better together” structure that wouldn’t get off the ground without a truly great team calling the shots.

“We’ve had a very positive experience with the platform,” they say.

Now they hope they can be a catalyst, sharing that experience with the rest of the company — and with anyone else interested in using the ThoughtTrace platform.

“Whenever you can uncover the most important details in a matter of seconds, that’s very powerful,” they say — and, laughing, they add, “We don’t know if we’ve really, truly been able to quantify it.”

Asset Management Team

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