Dealpath software for logistics

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all right i think we're back do we have rob i'm here how are you ryan excellent i can hear you and see you good how are you today good to see you terrific good thanks for having me excellent okay yeah good great great you could join i really appreciate it um rob is with dealpath he is uh the senior vp of product and uh i think what you'll see here uh is just another component of the stack um this one in particular uh on the application side uh dean i won't i won't steal any uh uh sorry rob i won't steal any of your thunder so please take it away yeah terrific well thanks ryan um yeah i mean i think uh deal pass occupies a very different position in the total tech stack but a very important one whereas a lot of the other solutions that we're going to talk about today really are more about managing the asset once it's in your portfolio fieldpath today really addresses kind of the beginning and the end of the asset lifecycle so how you bring assets into your portfolio through the acquisitions process and then when you're ready to exit that investment through the uh through the dispositions process so just a little bit of background quick history on deal path the company was founded about eight years ago in 2014 and the founders identified that there was a significant problem that existed in the real estate acquisitions process and this problem was only got bigger and only exacerbated as the size of the asset increased and that's that first of all there were in any acquisition there was dozens sometimes hundreds of people that were touching that that acquisition it was a highly fragmented very people-intensive process but it was also a very expensive process just to be able to get to a point to determine whether you know a firm would want to you know engage make an offer on an asset they would spend hundreds of thousand dollars sometimes millions of dollars in outside consultants for curing data you know environmental studies legal you know certainly you know through the due diligence process so it was this fragmented and very expensive process and in the sophomore world in commercial real estate there were lots of solutions out there that helped companies manage those assets once they were part of their portfolio but almost nothing that really sort of dealt with the you know beginning and the end of the real estate life cycle so that became the impetus for deal path and deal path built a cloud-based platform that could you know number one deal with just highly decentralized data you know hundreds of spreadsheets and emails and lots of disparate systems that were housing this important information through the offer and due diligence process a very complicated and laborious reporting process trying to get information to the investment committee and to senior executives and just really just right with inefficiency so nope sorry i'm gonna let's get ahead there we go so the solution to that was to build a scalable centralized cloud-based application that would allow for real estate organizations to source deals manage information in a single system of record and then be able to report to and involve all the key individuals involved in the process and you know a good part of that is automating the workflows automating what the processes are across various teams and throughout the acquisition process to be able to expedite the way reports are generated expedite deal analysis so deal path was really sort of constructed around those principles uh and you know what we've proven and i'll talk a little bit more about our process but that we've been able to provide deal teams with an ability to process more opportunities and just simply run more deals uh through their pipeline which generates you know huge returns huge roi for the companies that implement it but just as importantly it provides a single source of truth a single pipeline for all the deals that any real estate organization is currently you know looking at working on and get away from those disparate and siloed systems so uh we've also recognized uh as we worked with a number of larger and very sophisticated real estate companies you know big global allocators investment managers with you know hundreds of millions in many cases billions of dollars of assets under management that this type of application the type of software deal path has can't just simply live on its own it has to work with other platforms that are already in use within those organizations right it has to be fully interoperable with the rest of the you know the enterprise tech stack as we're talking about here today the rest of their technology ecosystem so there's some key questions that our our customers ask when they're looking at deal path as a solution and that's you know number one is you know does the platform talk to other software can it integrate you know is there a robust set of apis that allow for data to move back and forth is the information scalable can it touch all the different parts of my my tech stack and throughout the entire life cycle so one thing we recognized early on is that you know the this type of application can't be in all things to you know one-size-fits-all all things to all people uh process so it's a highly customized solution but it's also we deploy we implement a very structured deployment and implementation process we've been very successful in this implementation process across roughly about 250 of the largest commercial real estate investors in north america and globally and some of these investors include companies like uh you know blackstone aw oxford nuveen manulife and one of the keys to that process is that the implementation itself just getting the software onboarded is highly structured it's methodical but most importantly it's highly metric we want to be able to measure success throughout the process and we've learned that in an implementation don't shoot from the moon immediately just make sure that we have uh you have achievable milestones throughout the implementation process if you bring on ever increasing uh numbers of people different different teams within your organization and start with and focus on first the most inefficient processes that you have but as we'll talk about maybe throughout this this panel make sure that you understand what the goal or the expected outcome of that technology investment and that implementation is so ryan with that i'll just turn it back to you yeah thanks rob that's really great stuff you touched on a number of things there that i think i might have referenced at the at the top which was open open architecture and what i call master data i think you call called it centralized data um so thinking about the presentation that dean just gave and the kind of the the operating model uh target state perhaps when when you engage with with your with your clients how important is that organization of maturity how important is it that their systems have open apis that you can integrate to or that they're there in the first place i think maybe some yeah sometimes there's some gaps um or or that don't have a data strategy like that how do you kind of how do you help those folks or what what is the advice that you give them how do you work in those types of situations well i mean so i guess maybe i'll kind of answer it in two parts first with respect to the uh you know sort of the ability to connect to and kind of the open architecture of other systems i think it's absolutely critical i mean today personally i would not uh invest in any solution that that can't demonstrate that it has the ability to you know push and pull data with other platforms and do that in real time i think that's just become table stakes you know in in you know 20 years ago when i first got into commercial real estate technology we used to talk about you know a single solution platform right like one system that could end you know an erp platform that could handle everything end to end or it might have been uh you know for for systems management building management et cetera well that doesn't exist anymore right like those days of single system solutions are just gone there's we're an ecosystem of really excellent point solutions but now with the ability to you know work with others so i think that's critical and with respect to the organizational maturity you know some companies already have it going in but for those that feel like they don't have that you know working with an experienced vendor that's done this hundreds of times like like deal path has we can help to bring more of a best practices approach i know real foundation certainly does that you know with their consulting clients and among others but be able to bring in best practices that they've learned so rely on your vendor rely on your consultants to help show you uh you know what are some of the better and more efficient ways to be able to deploy this technology in your organization you shouldn't necessarily have to already have that maturity to be able to leverage these solutions yeah good good okay that's great and then you know i i had also kind of commented or tried to break break apart maybe some of the bigger chunks of this real estate life cycle management uh process that i like to discuss you know one of those was the kind of well called the transaction space um how do you how do you see that or and i asked that question because i think what is critical in this in this stack is really the handoffs right we you guys do a great job at what you do you know the next guy does a great job down down down the road to what they do otherwise they wouldn't be you know leading product vendors um and so i think the focus maybe is on the handoffs the inputs and the outputs uh to and from your particular tool can you talk to us a little bit about that how you kind of see see that the world of that life cycle management and some of those handoffs and whatnot what's what's important in your mind as you well i mean look certainly if you think about the front end of the asset lifestyle the asset the acquisitions process and i'll just you know again using our software as an example you know uh the the owners and the investors are aggregating a tremendous amount of information about those assets right whether it's you know it's rental information uh it's you know all the uh you know financial data everything that's going to be used in the underwriting and in the valuation assumptions uh if it's uh you know property that they're then gonna you know recapitalize and develop they may be you know might be engineering information you know construction plans etc so we're gonna collect a lot of that information at the beginning of the process but if we were to assume that we were the you know the end of that you know that process as well that would be doing the you know the owner the investor a tremendous disservice so our job then is to make sure that the ability to hand off that data to the next system whether it's a construction management platform or it's a regular accounting or asset management platform portfolio investor relations leasing you know products you know products that handle the leasing process like vts and others you know our job is to make sure that there's a seamless flow of that information that's collected during the acquisitions process to these other platforms and then hopefully once the investor is ready to exit that investment you know down the road five years seven years ten years after their whole period and they're ready to dispose that asset hopefully at a much appreciated value at that point in time we'd love for that handoff to take place the other way right now coming from the asset portfolio management back to deal path so that we can help with the the disposition process awesome cool well thank you we'll bring you back for the panel q a appreciate your uh your input and your presentation there