Features > Asset Management
Asset Management
To keep track of project assets, "project groups" are set up relating to each deal being tracked. Multiple projects can be set up and tracked individually underneath each project group. Combination project groups can be set up to run reports for inclusion of various combinations of different groups. These are easily tailored for specific business needs.
Entity records are set up for each investor, vendor, project entity, and corporate entity. These records include email addresses and mailing addresses to work with mail merge files that can be used for automated capital call and distribution notices. The entity records also contain bank account information for the entity, to be able to track specific cash accounts within the entity, and to provide wire transfer or ACH information needed in processing distributions or payments.
Within each project, specific units can be set up to track inventory. Units are identified by type (such as acreage, finished residential homes, undeveloped residential lots, residential homes under construction, commercial office buildings, commercial retail stores, hotels, etc.). Reports can be run for sold units to see historical sales information, or for unsold units to track inventory. Exception reports help identify any issues where projections reflect a different number of units from actual inventory.
Site visits can be monitored through the system. Upon completion of a site visit, the event is documented in a tab within the Project Summary form. Reports can be run to show properties that need to have site visits scheduled within a specified number of days, and where site visits should have occurred but have not. This helps with scheduling trips and helps ensure that policies are being followed. Exception reports can be customized based on policies regarding frequency of required site visits.
The system can be used for tracking insurance policies, by type, by entity and by borrower. Reports can be run from the system to summarize projects that have upcoming expiration dates on the policies, to aid in requesting renewal coverage or updated insurance policy information. There is also an exception report that can be run for any items where the insurance policy periods are expired.
Exception reports also help ensure that projections don’t have negative cash situations. Each project can have numerous different scenarios of projected cash flows, and historical scenarios can be saved for future comparison.
Follow the links below for sample screen shots and reports relating to asset management.