BHC Group Helps Trez Capital Upgrade and leverage Microsoft GP to manage the rapid growth of their company by utilizing technology to increase efficiency and reduce manual efforts.
“We had a tough time managing 25 GP company databases, and when Bryan and his team suggested we look at using Binary Stream’s Multi-Entry Management (MEM) product, this was a no-brainer. We consolidated 25 databases into 2, one per Functional Currency. Our GP functionality was streamlined, and we saved countless hours maintaining all those databases. “
– Milosz M., Director of Finance.
The Challenge
Trez Capital is a diversified real estate investment firm and preeminent provider of private commercial real estate debt & equity financing solutions in Canada and the United States. With over CAD$5.5 billion in estimated corporate group assets under management as at December 31, 2022, they have funded over 1,700 transactions totaling over $17 billion since their inception in 1997.
The Process
To kick off the project, BHC Group conducted a discovery meeting with the Trez Capital Team to discuss the overall strategy and concerns. The Trez team included Fund Accounting, IT, and the VP of Finance. The BHC Team comprised a functional and technical resource and business analyst.
It was soon clear to all involved that Trez needed to purchase a multi-entity management module from Binary Stream. They needed to define a new global chart of accounts and upgrade their server to be compatible with the latest version of the software. We also recommended they migrate to Management reporter from FRx and consider a custom integration to import data from their other core system, removing manual effort.
The Trez team was concerned about how the upgrade would impact their current users. They wanted to be assured that their financial data would remain accurate when upgrading the software and that their financial reporting would migrate correctly.
BHC Groups’ experience with GP upgrades is extensive, and they were reassured that we had done this before with no issues. We suggested a trial upgrade as a proof of concept in an environment for end-user training and data validation. And it was agreed to move forward with that suggestion.
The Solution
BHC Group built a GP roadmap and recommendation report outlining the phases and timelines for the upgrade, and implementation of new modules, creating a level of comfort for both parties to move forward with the project.
The five planned phases were:
- A trial upgrade to move existing functionality to the latest version
- Implementation of a multi-entity management system
- A chart of accounts realignment project
- New features implementation
- The integration of data from another system
As with any implementation, there is lots of training, testing and end-user support.
Throughout the project, reporting was accomplished through status reports, signed-off statements of work for each phase, and deliverables provided to stakeholders and the PMO, as necessary.
The project was completed in ten months.
The Result
The project was an excellent decision for the client. They are now on the latest version of GP, and reporting is more streamlined. They are using new functionalities to make their process more efficient. They have better security within the system and easier maintenance from a system administrator perspective, who were very happy to be on newer servers. System performance was enhanced due to being on new servers, and overall, it was a win-win situation for all - Finance, IT, and the BHC Group.
The Future
After a successful project, we identified other opportunities for system improvements, including building an integration from their other core system into GP and creating a Project Management Office (PMO) within Trez Capital. They viewed us as a trusted advisor and continue valuing our input today. The value we provided, and the trust gained with BHC led to future projects with Trez and BHC in other departments.
This project was the launching pad for a special relationship between BHC Group and Trez Capital. The partnership has led to Trez reaching out to BHC as their primary go-to for resources and technology/systems project support.