Case Study

Cornerstone Real Estate Advisers

www.cornerstoneadvisers.com

Cornerstone provides private real estate equity investment management services for its parent corporation, MassMutual, and other institutions. As of the end of 2006, Cornerstone had more than $8 billion in real estate assets or committed capital under management.

The Problem

Monthly reporting from property sites is time-consuming, costly, and paper based.
Quarterly reporting to clients--which include taxable corporations, municipalities and tax-exempt organizations with their own unique reporting requirements--is inefficient, time-consuming, and prone to human error.
As with many large organizations, a proliferation of databases, spreadsheets, and other ad hoc solutions had begun to grow throughout the home office and branch locations.
Asset managers relied on IT to prepare the simplest of reports from the Intuit® Real Estate (MRI) accounting system. Access to those reports required a VPN and Citrix® connection to the client software.

The Solution

Implemented a "monthly package" using AssetEye's built-in workflow manager. The simple tabbed-display presented all pertinent asset-level financials and captured the property manager's executive summary and comments on variances and delinquencies.
AssetEye customized to contain and report data from the variety of ad hoc solutions.
Created a collection of standard reports for asset managers and designated them as "favorites". Access to most common data with a single click from user's AssetEye home page.