When you have 20 years of experience, operate in seven countries, work with 30 plus partners, and have up to 100 active projects, bringing together data and creating accurate reports becomes a real challenge. This is exactly the dilemma that Paladin Realty Partners —a leading private equity fund manager with institutional-quality real estate investments all over Latin America—faced on a daily basis. The company’s complex business model means that they receive dozens of Excel spreadsheets from partners in multiple countries, in various languages and currencies, each with its own “special” quirks. Even with a large back-office team working to compile and check the data, the quarterly reporting process was always time-consuming, error-prone, and frustrating. They asked the experienced team of professional data scientists and engineers at Pacific Data Science for help.
Pacific Data Science drew upon its extensive financial and analytics expertise to build a custom system to do the heavy lifting when it came to managing Paladin’s data and reporting. Dubbed “The Brain,” and built from the ground up with reliability, traceability, and security in mind, this intelligent back-office automation platform acts as an internal “staff member” for the company, compiling data from multiple sources in a matter of seconds, rather than a matter of weeks. With simple drag and drop technology and direct integration with foreign exchange rate feeds, operators can easily import all of their spreadsheets and market data into a single cloud-based “source of truth” with a robust audit trail. The Brain automatically performs dozens of cross-checks, calculates key financial metrics, and seamlessly converts among currencies so projects spanning multiple countries can have consolidated fund-level reports with detailed drilldowns. At each stage, The Brain can export intermediate or final results as Excel spreadsheets, enabling manual checks and custom ad hoc reporting.
Data integrity is no longer an issue for Paladin Realty Partners. The Brain has eliminated the wasted time, headaches, and errors caused by a scattered workflow involving dozens of spreadsheets being copied, edited, and emailed over and over. The Brain provides a smarter and more effective way to store, audit, and process critical financial information, automate manual work, and enable stakeholders to access the information they need in real time. The numbers are trustworthy, and sophisticated investors no longer wonder if the data they are receiving is error-free and up-to-date. Staff members are now free to concentrate on more strategic activities, and the company is operating more efficiently than ever.
This system saves us time, effort and eliminates potential errors and inconsistencies in the data because it automatically does what a whole team previously were forced to accomplish manually. Because the user interface is so well designed, the learning curve was nonexistent and now our staff is freed up to do their best work.
Randall Loker, Chief Investment Officer, Paladin Realty Partners