Financiamiento ágil bajo un mismo techo para propiedades en EE. UU.
Key results snapshot
50% increase in budget accuracy combined with increased cost controls resulted in a 6.7% increase in operating margin.
Reduced planning margin of error by 20%.
4x increase in number of projects under construction due to improved operational planning efficiency.
Who is USA Properties?
USA Properties is a privately owned real estate development firm founded in 1981 and headquartered in Roseville, CA.
With 400 employees and an annual revenue of $140M USD, USA Properties was on a mission to build a strategic finance function rooted in agility, so they can allocate resources and drive performance across their properties with purpose.
Business challenges
Bogged down by manual budgeting in spreadsheets, USA Properties recognized that there’s a better way to bring all their data together to plan, budget, and forecast.
Chief Financial Officer, Jonny Harmer, needed to answer key financial questions: What do projects look like in the next 12 months? The next two or five years?
Before Prophix, the finance team at USA Properties was manually budgeting and forecasting five revenue streams in Excel—an error prone and time-consuming process. This collection of legacy systems and manual input was the catalyst to find a better way to consolidate data for efficient cash flow forecasting.
The lack of data integration meant that the finance team was manually exporting data from COINS and Yardi and inputting it into Excel. This was a huge barrier to efficiency and agility and a data security risk.
It was time to find a solution to better consolidate data for cash flow forecasting, and ultimately elevate their finance function so Jonny and his team could spend time on analysis and work that impacts the bottom line.
Applications deployed
Planificación y análisis financieros
System integrations
All our executives overseeing our four functional areas use Prophix to do their personnel planning. As we're doing budgets for the coming year, we're able to do periodic reforecasts every 90 days, instead of just doing one annual budget. That way, information doesn't get stale and we can stay on top of what we expect to happen.
Jonny Harmer
CFO, USA Properties
Por qué Prophix
To continue to grow and scale, USA Properties needed a solution that aligned with their industry requirements and a vendor with demonstrated expertise in construction and real estate.
USA Properties needed a self-serve platform, with no specialized skillsets required, so that everyone across the finance team could create reports and use the platform based on their own reporting needs.
After a side-by-side pilot of Prophix and a spreadsheet-based CPM solution, USA Properties chose Prophix due to an ‘under one roof’ experience, from implementation to development and customer service across their properties with purpose.
Key results
USA Properties transformed their key financial processes including reporting, budgeting, personnel planning, and forecasting. By saying goodbye to 90+ legacy budget spreadsheets in Excel and the accompanying manual data entry, they said hello to automation.
Now, not only are their key financial processes automated, which is a huge time saver, but there’s reduced risk. There’s limited risk of ‘brain drain’, manual errors, and data security when your data automatically comes together into one system.
With Prophix, USA Properties was able to:
Reduce the effort required to complete month-end reporting. As a result of better cost tracking and more accurate projections, they increased their operating margin by 6.7%.
Create 90-day rolling forecasts because of the automated systems in place – and have a better view of organizational performance.
Prepare operating budgets with 50% more accuracy.
Allocate personnel expenses by functional group, which reduced their margin of error on costs by 20%.
Revise forecasts and plans to improve the accuracy of ‘true-up’ reports within 5%.
Improve their net operating income plan accuracy by 4.5%.
Streamline their operational planning process, which resulted in increasing the number of projects from four to 16 – worth $450M – all without the need to increase headcount. After a side-by-side pilot of Prophix and a spreadsheet-based CPM solution, USA Properties chose Prophix due to an ‘under one roof’ experience, from implementation to development and customer service across their properties with purpose.
en acción