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Blind Spot |
Spreadsheets |
Legacy Applications |
Northspyre |
| 1 |
Responsiveness |
Static data that must be updated manually and becomes outdated quickly. |
Static data that must be updated manually and becomes outdated quickly. |
Live, real-time data that is constantly up-to-date. |
| 2 |
Accessibility |
Back-up documents are stored + filed separate from financials. |
Back-up documents are stored + filed separate from financials. |
All critical documents and data (contracts, invoices, COIs, calculations, etc.) are smartly indexed + searchable. Have difficult questions? Get quick answers. |
| 3 |
Versatility |
Larger, complex projects become too overwhelming for simple spreadsheets, which can lead to a chaotic – and error-prone – web of cost tracking across multiple tabs and files. |
Rigid templates and budget categorization schemes are not adaptable project-to-project, based upon size, scope and scale. |
Highly adaptable technology services a wide breadth of project sizes (budgets from $100K – $1B+) and types including, but not limited to, ground-up development, multifamily, mixed-use, industrial, retail + office fit-outs, corporations, and museums. |
| 4 |
Data |
Historical data lives in old documents and is rarely leveraged to inform current and future decision-making. |
Historical data lives in old files and is rarely leveraged to inform current and future decision-making. |
Valuable, proprietary data from past projects is leveraged for better, faster + smarter decision-making across an entire portfolio in real-time. |
| 5 |
Ease of Use |
Must be well-versed in how to create accurate, complicated formulas. |
Expensive consultants and lengthy training (usually several months) needed to properly set up + gain value from software (meaning only a handful of individuals are true experts, which is an issue if that talent ever leaves). |
Northspyre’s philosophy: users should be able to experience 90% of the platform’s value within 15 minutes via its intuitive user interface + proactive intelligence guides. |
| 6 |
Transparency |
Information lives within a complicated interface and is often siloed between departments (usually project teams, accounting + management), which limits access to key details. |
Usually only one or two employees have log-in credentials and manage all project information, making it difficult to share information quickly + freely. |
Project teams are in the driver’s seat, owning log-in credentials and the ability to quickly share project details in real-time with management teams, JV partners, clients + other key stakeholders. |
| 7 |
Visibility |
All project data is masked within dozens (or more) of inconsistent spreadsheets built by different team members that do not offer a clear picture of project status. |
Project data is maintained in glorified spreadsheets that do not provide a holistic view into project or portfolio status. |
Users have access to real-time data and project status 365 days a year, with the ability to review an entire portfolio from a high-level or drill down into more granular detail with just a few clicks. |
| 8 |
Flexibility |
Budget lines and overall formatting must be manually tailored to each individual project, and involves complex formula work that can easily lead to inconsistencies + errors. |
Very rigid chart of accounts + budget categorizations (that cannot be altered easily once implemented) perpetuate reliance on a single company-wide template for all projects (which isn’t friendly to project nuances). |
Custom budget categorization schemes at start of project are easily modifiable as things change – for all project sizes + complexities – without worrying about errors or time spent creating new templates or charts of account. |
| 9 |
Human Error |
Prone to broken formulas, version control issues + extra time spent on double-checking work. |
Users rely on data entry and complex, dated software, which opens the door for mistakes + errant input/ output of information. |
Data entry is eliminated and administrative tasks significantly reduced, taking human error out of the equation. |
| 10 |
Product Support |
Your team is your own support. Instead of running projects effectively, hours are wasted resolving formula errors, reconciling values + building or updating spreadsheets to get to better outcomes. |
Very limited product support that can take days to weeks for a response, let alone action to solve your issue. |
- On average, inquiries are addressed same-day (with no more than a 24 hour delay during M-F business days).
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