Retire the spreadsheet. Salesforce is a “game changer.”
BH Management Services is the 11th largest multi-family real estate operator in the United States; revenues from properties spanning 22 states totaled over $600 million in 2015. BH Management has found its niche in a highly competitive industry by acting as minority investors, property developers, and managers. The BH Equities division alone raises +/-$30 million annually, underwriting 400 deals per year with institutional and individual equity partners.
BH Equities team members managed their deal flow pipeline primarily from memory and excel spreadsheets. Team members struggled to access critical data remotely and information loss from over-riding was a growing concern due to simultaneous activity. These archaic practices could not keep up as the number of deals under development grew. More deals required more analysis and data collection became a pain point. BH needed a new system that would house large amounts of data and ultimately help them match the right investors to the right properties.
BH’s internal IT department explored the development of their own proprietary solution, but timeliness was a concern. A Salesforce Customer Relationship Management (CRM) system was determined to be the best solution due to Salesforce’s brand value and cloud accessibility. A solution solidified, BH enlisted Doextra as their implementation partner at the recommendation of Salesforce.
BH recognized that Salesforce was a “game changer” but they needed an implementation partner. Doextra implemented the Sales Cloud with custom objects and workflows to automate day-to-day task drivers, increasing efficiency. A grouping element was installed allowing users to link opportunities, sellers and markets via vertical portfolios. Doextra also introduced a seamless integration between Outlook and Salesforce.
Mike Baker, Director of Acquisitions and BH Equities team, had the following to say about the chosen solution: “Salesforce was clearly the CRM platform of choice but BH Equities needed a partner to specifically design a system to help manage deal flow, match investors with potential deals, and mine historical data in a simple and easy way. Doextra provided hands on guidance to build and implement a personalized product that satisfies all of our needs.”