The Beacon team had been considering building a proprietary system to manage leasing and tenant updates across its portfolio. However, after learning about VTS and the service it provides, Beacon realized the platform was uniquely positioned to help the firm manage deal activity and use that information to make better decisions across its portfolio, while creating efficiencies and saving substantial time on manual reporting.
Prior to VTS, asset managers and brokers shared deal updates via Excel spreadsheets, which were often updated the night before the biweekly leasing meeting. The static nature of these documents made it difficult for asset managers and senior executives to gain real-time visibility into the status of portfolio-wide activity, potentially causing a risk of delaying deals.
Third-party brokers now enter deal updates directly into VTS, so Beacon's asset managers and senior executives don't have time to wait for the biweekly meeting to receive status updates - they can see them in real-time. And instead of spending those meetings reviewing spreadsheets, time can be spent finding ways to close deals, which the team is now doing faster.
Beacon Capital Partners now streamlined their company communications decreasing the average number of days it takes to move from proposal to executed leases by 37.3%
" With VTS, things move a lot more seamlessly. I love the daily email that tells me what happened the night before. I look at it every day so I always have a good idea of what's going on across the entire portfolio." - Sara Shank, Managing Director, Head of Portfolio Management