How the Edgewater Group Automates and Standardizes Reporting Across Their Portfolio with Lobby CRE

The Edgewater Group, like many commercial real estate firms, partners with third-party property managers. As a result, they are limited to the monthly cadence in which they receive financial and operational reporting. This puts them in a position of reactive asset management. Additionally, without direct access to property management systems, such as RealPage, the Edgewater Group is unable to leverage all the data being impacted by technology silos, including occupancy, payables, and receivables.

Because the Edgewater Group doesn’t receive standardized reporting across the portfolio, they’re tasked with manually collecting and standardizing data. This has been challenging given the use of different third-party property managers over the years who have their own unique way of reporting on performance. To accurately analyze performance across their six properties, it takes upwards of a full business week to format data and capture insights. Said George Schmidt, Director, “I sometimes think about getting help with the manual reporting, but I catch critical things that others might miss. And because it’s so time consuming, I’m only able to do this on a quarterly or semi-annual basis, which puts me in a reactive position.”