Buying technology intelligently

Issue:

A global tech company with real estate assets on multiple continents was considering developing their own project management technology for their real estate development team.  The existing software did not provide the needed financial functionality and reporting.

Because of our experience in the real estate development, construction, and property management markets, they hired us to define how the technology should work before their developers started developing the new application.

They needed a project management solution that worked well within their existing suite of tools, could handle the many currency calculations, provided financial controls and the required reporting.  We helped them buy project management technology intelligently.

Solution

Starting with the end in mind, we began reviewing their reporting, data, and data storage needs. Next we documented how the organization worked, how information flowed, and the financial controls and calculations needed to handle the reporting requirements.

Shortly after capturing the functional requirements, we concluded that by better aligning their workflow with industry standards, they could use an off the shelf solution rather than develop their own.

Using a ready made best in class solution would provide the functionality they needed much sooner, save money and keep them out of the software maintenance business.  Ultimately they were able to buy technology intelligently.

Our proposal of streamlined workflows that aligned with industry standards and using a 3rd party solution was promptly accepted.  The client retained us to develop the functional requirements, help write the RFP, be part of the selection committee and represent them during the customization and implementation of the software.

Results

The alternate approach allowed the client to:

• Roll out their new project management system 18 months ahead of schedule
• Eliminate the software development and maintenance costs
• Adopt a scalable and customizable solution
• Obtain the desired financial controls and reporting