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all right we're back and i am with joe muskowitz joe is the director of business development and strategic solutions at deal path joe welcome thanks chuck thanks everybody for having me um so i'll give a little background on on deal path um we were founded in 2014 where duly headquartered both in san francisco and here in new york where i'm based and really what we're striving to do is to be the central command center for all things deal management um so you know as it's sort of displayed here in this visual um we're trying to sit at the center of whatever deal management means to our customers whether it be acquisitions dispositions refinancing deals um you know debt and and lending in that whole area and how can we layer automation create efficiencies and ensure that our our clients are continuing to work their deals through their life cycle in a smart way to sort of create that sophisticated modern investment management shop so what we strive to do is to you know create a user interface that's um that's friendly that's intuitive and that's configurable and that's that's really key for us because we understand that all of our clients have very unique ways to go about their various deals right whether it's different deal types whether they have different um methodologies for geographic areas um different tasks um and and leveraging different teams we need to be able to create efficiencies and and add value for all those different scenarios so what we do is really try to combine what we see as industry best practices across the board with configurability to be able to solve for what's specific to our to our investors right to our to our investment management clients we don't want to enter into uh you know their their tech stack their tech ecosystem um as steven was alluding to earlier not having to really undergo a large amount of change management right and so we strive to really get an understanding a deep understanding of of what's working well for them what sort of workflows and reporting goes into successful deals that they've executed on in the past and to really sit in the middle of all of that do you do you find and stephen feel free to jump in whenever you're available uh the do you find that you you really have to sit with them to see what their current process is like in order to be able to figure out not only how to model it maybe you want maybe maybe modeling the current process is not a great idea because the process isn't good right you might recognize that right away what are you looking for whenever you're doing that with a client yeah we actually uncover a lot of that before our clients are leveraging fieldpath because a huge part of the value that we need to show before they sign on as a customer is what is this going to look like when you're using it right because we can't really come into an organization and say here's a generic platform that you can leverage for deal management that's not that's not the value that we add that's not what our clients are looking for so you know early early in our conversations we really just try to have a conversation we we try to get an understanding of you know what happens in this scenario if you're looking at um you just raised a fund that's going to focus on um industrial assets or multi-family assets which we're seeing a lot of today um what is that going to look like for you so that we can then you know manipulate the platform repurpose it create uh the things that you want to see configure it to a way that is going to make sense with your doing things and and modernize your process a little bit not you know create net new processes unless it's something that you want to happen but but add sophistication and and modernize that uh any questions on that one stephen uh no other than uh you you did mention customization um and i just kind of think when you're talking about deals it's a little bit less structured than other pieces of information in real estate so you did mention you can customize like is that a strategic um intent of deal path is let every company every client you know start them out with a template but but let them build it from there you know what is it they want to consider a deal and what is the information that you want to track for sure we've seen we've seen multiple scenarios right so we can you know come to the table with um sort of templatize this is what we've seen for typical acquisitions and we can start there and sort of iterate on that um but more frequently what we see is let's partner and build something within deal path that is unique to to us in this organization and let's make it successful right and that's really the core of our implementation process and you know we have our data model and at the top of our data model is the deal and the property and then we do have a very high level of configurability and on the customization front we enable our end users to build out info fields which are really just you know data fields within our platform that they want to see uh as it relates to either the deal or the property so it's you know custom data fields within the framework of our data model and then allowing that to be passed through our api framework what about uh when you run into a client where they may have a very complex workflow with an investment committee that has to do approvals for uh their their deal procedure their review process is complex how do you model that i mean it all starts with getting a really unders a really deep understanding of what that looks like right um and then configuring the platform to enable them to be successful and automate that um in deal path and um you know that's that's part of our implementation process um we recognize that um often you know our our clients have very specific ways they go about their investment committee approval process and what their investment committee wants to see out of an ic memo so we take all those things that they're sort of married to and they want to automate and we do just that we automate the way that the data gets populated in an ic memo we format it and enable our users to iterate on the formatting of how that's going to be displayed we can automate the um the exporting of that we can automate who has access to that ic memo and then sort of leverage our configurable workflows to play into their processes um as it relates to the the investment committee got it the you know i think one of the other uh areas that people have struggled with was the all of that documentation uh and where it gets stored is it stored internally into the system does it go into uh network shares is it part of a different document management system how do you interconnect with that yeah i mean you know we're we're a sas platform it's it's stored it's stored on deal path so um solving the problem of hey what's the latest and most updated version of this you know of this ic memo or where can i find the latest um updated data on this deal that i'm working it's going to be in deal path and any of the data points that relate to each other in deal path you know if one's updated it'll update everywhere on the platform if it's on the ic memo and you update it on this page over here it'll feed the ic memo and so it's a way to really add a layer of data governance on top of on top of the deal workflow which is you know something that we've seen as a major issue that a lot of our clients are facing before using deal path because they live in all of these various excel models all of these various excel based pipeline trackers where you know there could be multiple versions of that and they're not sure where it's stored or what's the most updated um you know data set i think one thing too with clients where one of the things they're most interested in is how is it going to integrate with my erp system how am i going to get information from an existing deal thinking about acquisitions i've heard you know maybe for every 100 deals 10 move past the letter of intent maybe term sheet and of those you know maybe only maybe three or four might actually close how does that then flow into one of the main erp systems yeah and and we're definitely thinking about that right we we're solving for the deals life cycle from um the opportunity to executing on that deal but we recognize the fact that you know we're we're coming into uh a sophisticated tech ecosystem a tech stack where we have to interface upstream and we have to interface downstream so um how can we ensure that um you know we're ingesting the opportunities that are coming across our clients desks but also when you execute on a deal as you're talking about chuck how do we hand that off to the erp um and so we are you know we just joined mri's uh partnership program we're going to be doing the same uh with yardy um and we're always looking for ways that we can interface with these erps right and then you know the use cases are there's multiple there's multiple of them right how can we pass the necessary deal data to the accounting administration team to create that net new asset record in yardy or an mri and then on the flip side you know how do we bring that data back whether it's to kick off a disposition workflow or to just allow our deal teams to have insights into the owned portfolio to make more uh intelligent investment decisions so those are the the integrations and the erp interfaces that we're currently um working to build out and so um definitely looking forward to increasing our um our functionality and our partnerships with the yeah you know if we you know i remember that cumulus model that i started with if you had that common key like a property id that just survived from the day the acquisition you know the deal was even considered all the way through into the erp system and on through distribution that just brings so much of that data together um you know that that that it is always an interesting part of that piece uh stephen how was that how was the for for you that level of integration that level of handoff did that work well yes so i think fieldpath really does a uh a nice job with integration in in that it provides an api we're kind of hands-on with our integrations so you know when there is a good api that you can really you know push and pull data um we love that rather than just some sort of upload download but um one thing that joe hasn't mentioned is they do have this ability for uh end users to push data from an excel like you can an end user can define a temp an excel template and they could bring it right in without you know that's more one-time or maybe it's you know i'm not exactly sure every scenario where they use that but it doesn't even involve i t you know i t can do the nightly job of you know pushing pulling data back and forth but the users can do their ad hoc things that they need to do interesting oh good well joe thanks again we're uh we're going to catch up with you at the end we'll bring everybody back on in a second