Firm with a focus on creative hotel, residential and restaurant projects in rapidly transforming urban neighborhoods across the United States.
"Just 17 steps that required a bunch of people entering the same information to different systems"
“Our current system is excel based and also ripe with the potential for human error and we realized we needed a better system than this. So in came Northspyre.”
“We were doing a lot of redundant data entry. I would get an invoice and I would send it to accounting, they would enter it in QuickBooks and they would send a transaction log back, I would enter that into my budget, then I would put it all out then I would get it approved then I would send it back to accounting. Just 17 steps that required a bunch of people entering the same information to different systems a bunch of different times."
“I have not seen anything else out there that has the user interface and the curvability that is specifically built for real estate project delivery needs. Not to mention, the simplicity in tracking of budget adjustments is beautiful."
"I would absolutely recommend Northspyre to other teams looking to eliminate redundant data entry, break down information silos between departments, and have real-time access to project data for better decision-making”
“I think that you are filling a niche that is really needed and is frankly a little shocking that no one has thought of this before.”
"...frankly a little shocking that no one has thought of this before"
An integrated real estate services firm for non-profits like universities and theaters with a thoughtful, mission-first approach to real estate.
"I’ll speak briefly to a profitability concern, which is really rooted in efficiency."
"So pre-Northspyre, we were all [in] Excel. All of the accounting through Excel and all of the documenting through emails. Saving all the documents and exchanging all of that through DropBox, emails and so forth. And the tracking was all done through Excel spreadsheet. While everyone on the team was very capable, they were bringing their own approach and style. Which meant we really lacked consistency and inherently because of that, lacked some quality control."
"Above and beyond that, I’ll speak briefly to a profitability concern, which is really rooted in efficiency. When you have different humans doing something that requires triple-checking or double-checking or multiple people checking, that isn’t automated, that isn’t clearly reported, you lose a lot of efficiency."
“It’s just a big time saver - when you push 2 or 3 buttons [and you’re done] versus what we were doing before. And then I think it’s just generally really cool. The whole thing of being able to jump into your portfolio and look at where it is and what is going on from a budget point of view and all of that. Being able to see your entire active portfolio in one place is very helpful.
It sounds cliché but time is money. For projects where we’re trying to closeout and getting bogged down in paperwork and trying to stay efficient, those extra hours every week really made a huge difference, financially speaking. I’ll also say it helps a lot with frustration. We don’t have metrics on that but we hire really smart, really dedicated people here and I think for some people it can feel frustrating to have already worked a really long day and then try to refocus on making sure all the numbers line up across invoices and that the invoice number, which was mistyped, corresponds to the email correction that corresponds to what the client was asking for, etc. etc. So I think there’s also a quality of life improvement.”
"...those extra hours every week really made a huge difference, financially speaking"
A premier fifty year old full-service real estate development firm with over $24 billion of projects in its advisory portfolio.
"The main issue before Northspyre was the manual labor involved"
“The main issue before Northspyre was the manual labor involved, but beyond that, this is a huge project and mistakes are not taken lightly. Either I have to check and recheck data to make sure that my reqs are consolidated, which involved a lot of coding in excel to build up my system to check for redundancies, but gave us a way to have checks and balances in place. So, if one thing said one thing and another sheet said another thing, it would flag it at least."
“...The core product that you offer with the ability to easily track invoices and commitment against the budget is just very, very sound and intuitive. It synced up with my mindset on how a development budget should be managed and gives me comfort that I can teach somebody that has a couple of years experience how to maintain a fundamentally sound development budget through relatively quick onboarding.
“That alone, if I was looking at just my work as overhead of the project. Then that alone would pay for Northspyre itself by the ease with which we’ve been able to transition that work to the younger people in the firm.”
“The fact that we were able to onboard all of our budgets, commitments and invoices midstream is a testament to the seamless onboarding process. This wouldn’t have been possible on too many other platforms I imagine.”
"...if I was looking at just my work as overhead of the project. Then that alone would pay for Northspyre itself"
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