Case Study

Bank of America

www.bankofamerica.com/community

Bank of America operates the oldest, largest and most productive bank-owned community development corporation (CDC) in the country, investing in projects that target neighborhood development and affordable multifamily housing.

The Problem

Monthly reporting from property sites is primarily Excel based. Aggregation of results and variance reporting is practically non-existent.
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.