Managing multiple commercial properties under different LLCs can be a complex and time-consuming process, especially when financial data is handled separately in Excel spreadsheets. One of our real estate clients, a holding company with 27 commercial properties across the U.S., faced challenges in consolidating financial data across all properties. Each property maintained its own financial records in slightly different formats, making it difficult to analyze overall performance, compare properties fairly, and make data-driven decisions.
The Challenge
- Each commercial property, operating under separate LLCs, managed finances independently using Excel.
- Data formats were inconsistent, making it difficult to standardize and consolidate information.
- No centralized system existed to track overall income, expenses, profit, and repair costs across all properties.
- Comparing financial performance among properties was challenging due to discrepancies in financial reporting.
- Manual data entry and reconciliation were time-consuming and prone to errors.
Our Solution: Automated Financial Data Consolidation
To address these challenges, we developed a custom automation solution that streamlined financial data collection and reporting. Our solution included:
- Automated Data Extraction: We created a system that automatically pulls financial data from each property’s Excel sheets, standardizing the format and ensuring consistency.
- Centralized Database: All financial data is now stored in a single, cloud-based database, allowing real-time access and analysis.
- Custom Financial Dashboard: A user-friendly dashboard provides a consolidated view of income, expenses, profit, and repair costs across all properties, enabling easy comparisons.
- Automated Reports & Insights: The system generates automated reports and insights, highlighting trends, potential cost savings, and areas needing attention.
- Fair Performance Comparison: By standardizing key financial metrics, the company can now compare properties objectively and make data-driven investment decisions.
Results & Impact
- Reduced Data Management Time by 75%: Eliminated manual data entry and reconciliation, saving valuable time.
- Improved Financial Accuracy: Standardized data formats reduced errors and inconsistencies across properties.
- Centralized Visibility: The holding company can now view real-time financial performance across all properties in one place.
- Enhanced Decision-Making: Data-driven insights help prioritize maintenance, optimize rental pricing, and identify underperforming properties.
- Better Financial Comparisons: Standardized reporting allows for fair, side-by-side comparisons of all commercial properties.
Conclusion
By automating financial data management, we helped this real estate company gain complete control over their commercial portfolio’s performance. They can now track income, expenses, and profit effortlessly while making smarter, data-driven investment decisions. Our solution not only saved them time and effort but also improved overall financial visibility and decision-making.
