Dealpath software for public relations

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i always uh enjoy getting the opportunity to moderate these uh webinars so i i think i'm gonna try to move my slide back one real quick but last fall i wanted to just let everybody know i did get a chance to work with john satan from real foundations and we put together a combined client case study session for realcom 2020 and it allowed five different companies to tell their investment management story and what was so each interesting about that was each of them ended up selecting a different vendor at the end of this process and we'll put a link in the show notes here in just a few minutes if you want to see the recording of that it was done in october of last year and i wrote a blog about it we'll have a link to that as well and what was interesting to note is that when companies tell their story about this journey that they have for selecting new software or integrating new software they start to develop these common themes and for those in our live audience or those even watching the recording you might be considering new software minimizing your application portfolio or even making existing applications work better together and i'll have a survey for you in just a few minutes uh so see if we can capture why you're attending this seminar as what this webinar and based on those common themes i put together this sort of jeff foxworthy style common indicators that you might need new software so if you're describing your current investment management system and you have over 20 non-integrated solutions that include things like excel access act timberline cti or even a menu driven green screen like this like orpheus you might need new software and shout out to john avery of legal and general investment management for that example if your business process for sending out investor reports involves large stacks of paper with multiple people in a conference room manually collating paper folders to put in the mail you might need new software and hat tip to michael de benedetto of northland group investment group and this is my hair on fire themes that i heard from multiple different clients if your president is on the phone with an investor and runs into your office asking which funds they are in where they're whether their latest returns and when was their last distribution you might need new software and kudos to scott mcginnis of cohen asset management for sharing that and if your ceo asks a new question about the company's investment portfolio and has already accepted the fact that they're going to have to wait a week to get the answer you might need new software if the number of assets in your investment portfolio has grown along with the number of investors and your current system can't keep track of everything if your third-party property managers are sending you excel and pdf reports in all different formats and non-standard chart of accounts you might need new software and hat tip to jacob teplin of crow holdings for sharing that one if your company has already tried new software and done tried to do an implementation but the project dragged on so long it was eventually scrapped you might need new software and if the bulk of your investors are telling you they don't want to receive paper copies of their investment report company performance documentation or any other report that could be delivered electronically through a portal you might need new software so i'm sure we're going to hear more examples of that from our panelists today about one last point and it came through on a lot of the different case studies we heard that once that vendor selection process is going along at some point it becomes less about the technology and more about the relationship who you can work with who you can trust and i think you may hear some of that echoed today so let me introduce to you joe muskowitz he's the director of business development and strategic solutions at deal path joe hey thanks chuck and thank you nancy and the real com team for for having me today and those that are on the webinar thanks for joining um so i i'm at the path uh i work on business development and strategic solutions um today i'm going to take you through a brief deck and talk about um three ways that it teams can remove inefficiencies across the pipeline and i say i t teams but really i'm referring to business technology teams the actual business users themselves and anyone who is a stakeholder in um in technology and and deal management and software implementations across the organization so first thing it really starts with a smart goal oriented implementation that's tailored to your process you're most likely not the first deployment and can therefore benefit from similar use cases and existing users of the platform existing users who are more than likely your industry peers and competitors for investment opportunities um now i know that not you know i know that all cre investment organizations are different um but to an extent they're also similar in a lot of ways the point is leverage the the technology organization leverage what they've already done successfully and know that you're not actually starting at point zero um what you want to do is avoid generic and can tools that force your processes to adapt instead of streamlining your existing processes so you really have to find that sweet spot between um you know industry standards and what's been done successfully and what works in the tech organization but also your core processes and what's been working for you as an organization that sweet spot right in the middle that's where you're going to be truly successful with technology implementations it'll also you know with those things um allow you to go live with the software with a very minimal amount of change management obviously change management is um you know a scary concept and it's and it's on you know top of mind for a lot of us when we're thinking about software implementations but keeping these these concepts in mind there really is a way for you to minimize that change management so when thinking about tech driven process automation you really look for a platform that applies smart configuration across your team across your organization and across your pipeline um you know if x then what happens then who needs to get involved if why then who needs to approve this then what happens what's the sequence of events that that occurs after you know x y or z um and there's a lot of areas where this could be commonly applied across the organization access user access and user management uh data completeness and and data governance so what sort of things across all of my workflows um need to happen every single time regardless of what the scenario is after i identify those things how can the software that i'm implementing understand that and work with me each time to ensure that those things are getting done that those things are getting complete approval workflows and then dashboards and reporting we're all generating reports for key stakeholders we're all generating reports at regular cadences for investment committees and and third party investors how can we leverage the technology to automate the generation of these reports but also automate the delivering of these reports systematically and having these auto configurations will allow you and your team to identify and address where there's some potential uh human bottlenecks and then create efficiencies that way as well and the last point here is to find a platform that's forward-looking and that has good market share because with good market share the tech platform sort of organically evolves into the best version of itself so think iphone jailbreaking for example so apple you know iphone jawbreaking when when you know engineering and tech folks sort of manipulate the iphone to make it do what they wanted to do right apple utilizes these jailbroken custom iphones to get a better understanding of what the end users actually want out of these iphones and then bring that back to their product roadmap and sort of work it into the product development and that's what you're going to find with a lot of these technology platforms that have a good customer base it's going to be a direct reflection of what the market at large is asking for out of an investment management technology software and then the third thing and this is going to go a lot into uh into kevin's previous presentation is to really capitalize on integrations um to centralize the information and to centralize these these insights you really want to leverage the api framework that these technology platforms have to bring it into your existing tech ecosystem i mean most technology platforms are in constant communication with one another whether it be you know building out substantial interfaces with each other or just scoping out ways to exchange data one off um i know that you know myself i'm i'm always speaking to to navigator i'm speaking to mri uh and and yardy i'm speaking to consulting firms like cohen resnick and real foundations to figure out how we can make these integrations more robust and i implore you as an end user to sort of think about it in the same way right what what is standard and what's not standard ask these questions to the tech vendor um but also know that they're they're not really limitations right if something is not standard maybe not built out there's not a pre-existing integration between you know the software you're talking to and one that you have in your ecosystem that doesn't mean that there can't be um most of these tech platforms have a robust api framework that can be connected to other platforms um with a little bit of work on the tech side regardless of whether it's standard or whether it's not and the last thing that i'll just briefly touch upon is a case study with oxford the challenge for them was to to really centralize and improve access to real-time and historical data while creating these efficiencies across their workflow and the solution was recognizing that software development for oxford was not their core competency you know industry-leading investments and investment management that was their core competency so having you know implementing deal path to sort of handle the software development piece of what their core competency is together made them um an overall holistic uh successful solution for oxford chuck and three days of work into three minutes you're standing you're standing by that i am i am yes and i implore you all to do the same okay no that's good i did i wanted to think there was a i noticed identifying and removing bottlenecks on your last slide how do you think companies can get better doing that uh well well there's certainly a lot of ways and you could even leverage the technology to do so so for example in deal path we have a very robust task management task workflow piece of the software where you can see who's working on what and get insight into you know where things may be taking longer create some pattern recognition on how long certain aspects of the deal management workflow should be taking and then sort of drill down into the reasons why things are getting caught up in a certain deal phase um and then get better at it take your human element of your real workflow and improve upon it now you you you mentioned we've got a a few more seconds here so i want to hit on a couple of points that you said because i don't want to lose it you mentioned tech driven projects versus business driven projects wouldn't you get push pushback from that from most companies well i think that it's a combination of the two right i think that a lot of times organizations are finding a significant dichotomy between the tech team and the business team the sweet spot is to find um you know or or organize a committee regular touch points between the tech and the business sides of the organization to get a true understanding of what's needed and then look for software that can solve for you know the conversations that you're having together okay all right great i'm going to ask you one more question while nancy brings the rest of our panel in because we'll have more questions for everybody else but you you mentioned something uh i want to ask you why do you say automation in commercial real estate is a slippery slope and everyone else can bring their cameras on while while you're answering so we can all we can all smile at you well i think that a lot of these uh investment committees get a little nervous when it comes to automation because they want to keep all of the decisions um uh and control within the human element side of things and not really let that all go um so there is a potential for it to be a slippery slope but the goal is to find that sweet spot between um you know leveraging standardization templatization and industry best practices that a software company like deal path knows and implements but then also having your processes fit into that software so you're still doing things the way that you have been and that's been working for you and you're still maintaining control over the decisions you're making you're just making them in a smarter way