Case Study:
JWB Property Management & Real Estate Capital
+21K man-hours saved annually
The big selling point of centralizing operations inside Salesforce & REDA is the return on investment. Especially when you invest so much time and resources, we have to recognize it as a worthwhile investment, not an expense. We grew about 20% last year and we ended the year with less people than we started the year off with. That's directly because of things that were implemented through REDA.
4100+ Properties
Real Estate Construction & Property Management
Florida
4100+ properties under management
JWB Property Management in Jacksonville, Florida has been building relationships and changing lives around the world since 2006. JWB's mission is to make a difference in the lives of each and every person they come across.
"I want the staff to operate at their highest and and best capacity. What I've been able to eliminate are all of the mundane admin tasks.Those tasks have mostly gone away."
- Adam Rigel
CFO
Overview
The road to real estate revenue is marked by thousands of day-to-day tasks that cost money, cause stress, and leave room for error. But it doesn’t have to be that way. The industry has been reliant far too long on legacy software that perpetuates mundane tasks and suppresses aspirations to centralize operations.
Enter REDA. A cloud-based, Salesforce-integrated enterprise resource planning (ERP) ecosystem, REDA connects every last “dot” – streamlining, synchronizing, and simplifying complex tasks as far-flung as accounting, inventory, and CRM for ease and outcomes beyond what property managers and developers ever imagined.
Immense & Visible gains from centralizing operations with REDA
Employee productivity increased by average
250%
Yearly savings enabled by REDA process & intelligent workflows
$2.5m+
Scaling up of portfolio & operations (YOY, 2017 onwards)
20%
ROI on investment in REDA & Services (YOY , 2017 onwards)
1210%
Paperless Operations
100%
The Challenge
"JWB relied on 5 separate legacy programs on an everyday basis to make the business work. It took us a ton of time moving data from one place to the next, which leaves lots of room for error. And of course, anything that changes causes the whole system to break, and then you're constantly trying to figure out, 'How do I solve this broken process that's moving downstream?'
We would have people that would make changes in one system and it hadn't pushed an update to another department, and so it would cause an issue for another department. And there's just an incredible amount of finger-pointing when things go wrong. Having 4100 homes under management and 1200 plus owners that we have. So, you have a lot of people that you're affecting, so if it's not perfect, your phones will ring until your ears bleed.”
Adam, CFO JWB, summarised the challenges in his own words.
The Approach
Requirement & process understanding meetings with respective process owners laid down the journey. Prioritization of REDA modules implementation was done considering team sizes. The aim was to bring immediate impact on how JWB business is managed and start streamlining operations.
"What differentiates REDA from others is their ability to communicate, and function and problem solve on both sides of the fence. REDA understands our lingo from our business and can convert it into technology and programming and development behind the scenes at the highest level without bogging us down. It’s impressive, it’s very impressive"
-Richard Neel
Project Manager
The Solution
The engagement started in 2017.CRM, Leasing & Acquisition modules were deployed in Phase-1. Key success metrics were to have centralized CRM operations for all verticals & business areas i.e. Real Estate Capital, Property Management Clients, Investors & Owners.
Contactless showings, integrated application forms, tenant screenings & omnichannel workflow-driven communication flows, enabled leasing agents to double the number of homes they lease out.
Phase-2 was focused on centralizing Property Management and Work Orders modules in REDA. Key success metrics were to streamline documents/agreements management, property management functions like renewals, eviction, termination, etc., and work orders management. One of the direct impacts of Phase-2 deployment was that the Property Managers were able to manage 2.5 times the properties prior to REDA implementation.
The focus of Phase-3 was to implement accounting workflows and streamline banking processes. Accounting operations were 95% automated including bank reconciliation, direct banking integration for payouts. JWB has almost doubled the number of properties under management since 2017 but has roughly the same number of employees.
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