Dealpath software for entertainment

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um we have a gary cao he serves as vp of business development at deal path and previously he was a product manager at of enterprise at condroya which was acquired by ultimate software and he was practice lead at hewlett packard enterprise gary great to have you on today thanks hazel and hi everyone uh it's great to speak here today um so as hazel mentioned as a background um i work and cover business development and operations of deal path work on member strategic initiatives here which includes working with a number of clients on their data strategy and optimization as they build out the roadmap for that work so just as a quick background you know we work with real estate investment management firms around deploying deal management solutions um and for today we love to go through three common trends we've seen throughout the past few years around this kind of journey as well as take you through two brief case studies that our clients have kind of gone through with us to show how they kind of completed that as well so with any initiative it's important to understand and map out what the long long-term outcomes are similarly it's also important to ensure that you are gaining value creatively throughout the process so you know what we've often seen as a first step of a journey is oftentimes simply beginning the process of digitizing your process so that your team can continue to work and focus on their priorities from that point you can actually take a more iterative approach around what to improve on and new functionalities from so some commonalities we've seen across the workflow optimizations include things like user and access management data completeness requirements and governance around that approval workflows standardizing dashboards reports to some applied visibility and ultimately we want to help ensure that the competitive insights and data is flowing in once you have things stood up the other thing we're seeing with this is as you're deploying and utilizing these solutions oftentimes by leveraging sas platforms you're getting the best class solutions which allows you to get updates continuously that are really vetted by industry feedback so you're able to take advantage of a lot of that stuff so really allowing your platform to evolve organically into the best version itself by leveraging that solution there we also see capitalized being the ability to capitalize on integrations as a pretty important part of any technology nowadays so as both aaron and pete has mentioned before you know being able to leverage best in class solutions decoupling kind of this generic solution approach towards solving for your team's needs has been something that's been growing um you know and as part of that too you can leverage and lean on quite a bit of the work that these technology platforms and providers are being done in the background so as kevin mentioned before and and that'll be coming up soon um a lot of us on technologies that do talk to each other and we have been working pretty hard to make sure that integrations and communications are happening so that it becomes pretty seamless slot in and out and kind of integrate with best-in-class peers so you know consider using a platform that can integrate and leverage your existing tech stack to maximize your adoption and efficiency as well as part of that too it's also important to understand what is standard and what is non-standard so as you're thinking through customizations and one-off builds oftentimes there might be solutions that might solve for the initial reason that you are doing one-off implementation that could come from buying a generic software so important to understand and go back to what is the ultimate problem solving for for the users and thinking from there to build out what you are going there as well and then similarly it's important to learn what can be achieved versus what has already been built so understanding where the platform is going making sure that these are aligned with their best in class and kind of use cases there as well finally i think around implementation ensuring that your your implementation does have outcomes every step along the way to get the max out of it and drive adoption as well oftentimes you are most likely not the first deployment so there are abilities to leverage on what's been successful and what's been seen in the industry while all commercial real estate investment ores are different to an extent there are some similarities as well so the good news is that you're not starting at point zero in a lot of these journeys there's you know best in class um learnings there's you know resources you can use outside to really understand how to really go about this change and allow you to kind of focus on on the investment part of it as well um and over time of so we've seen being able to avoid generic cam tools that forces your process to adapt instead of streamlining your existing process um that that's something that we've seen happen periodically as well so there's quite a bit of work you can do to automate the templatization and standardization will work to you as you build out your different data sources going through one example that we've kind of worked through oxford has been a great client of ours and we've been partnering with them for a number of years now initially they really approached trying to solve for a challenge of centralizing improving access to real-time and historic data and they want increased efficiencies and process improvements in deal management workflows so a big part the first effort then really was recognizing that they do not want to do software development in-house as it's not oxford's core competency and they would like to implement something for this so um it's been a great partnership with them where we allowed you know the ability to reduce quite a bit of work there and automate quite a bit of things allowing them to centralize and standardize their data workflow and kind of really allocate their time towards investment as well um and so with that i'll hand it back to hazel who i believe will be playing the next part of this case study as well yeah thank you gary so we're going to proceed to the video um for the case study and then uh go to human follow-up question afterwards deal path came to us from our team saying this can make us better in our day jobs with deal path it gives us the opportunity to take in all kinds of data related to our acquisitions and then utilize it in a very efficient and seamless manner across our entire real estate business blackstone feels strongly about leveraging the data across our business and utilizing the best in class technology tools to further propel our business forward and deal path is that solution what deal path does is allow us to quickly and efficiently automate our data streams it allows us to make quick decisions which is really the key to investing at the scale that we do we spent a lot of time looking for the proper solution both looking at generic solutions deal platforms and deal path was the clear winner geopath plays a crucial role at both the beginning and the end of the funnel what i mean by that is when we initially approach an investment it allows us to systematize that data then it also allows us to carry that data all the way through to our disposition process great so going on with with this theme of um you know getting from where folks are just using out-of-the-box analytics that they might have today that are provided by different erp systems or siloed systems and kind of getting it into a place where they can use analytics in an elevated way and a step beyond what they're using it today so for all those commercial real estate firms that might have really a treasure trove of data at their disposal but not always stored in a ready applicable manner um for example you might have something from your accounting system where if you had that um data paired with something for your work order system or something from your acquisition pipeline would be very powerful so what are some steps that um you think are the most impactful to remove some of the inefficiencies and start standardizing data so everyone in the company has access to the data they need to make decisions and has the same view of the organization yeah so it's something we see a lot so um you know going back to the basics as well with any strategy i think it's important to think through what you're solving for and where technology infrastructure is at that point um when we work with firms we often see um companies racing to build data warehouses and data lakes uh without really often taking the time to think through their end goals and what they're trying to get so in situations like this you know they are gathering building quite a bit of data but oftentimes they don't really know what pieces of data is valuable um there could actually be a lot of noise which ultimately might not be a valuable thing for them as well so as you're thinking through it i it kind of goes back ultimately to ensuring that you are solving for each of your team's workflow first so leveraging you know the right solution for that as the adoption increases you're getting the right valuable data in the solutions and then using that to kind of put together data strategy around how to warehouse and how to aggregate that together um as kevin mentioned earlier as well it's important to solve for needs first and and kind of go from that as well um so with that you know we do see that being able to integrate well and slot in and out of them solutions using that is a key part of that yeah yeah really great points on looking how the different groups work differently and looking at their workflow for that specific group and what they need instead of just really doing a broad application across the whole firm so really great points there gary thank you so much for for being here today and sharing with us