Configuring Deal Management Tech: What to Expect

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Commercial real estate firms face unique challenges when it comes to managing and processing deal data. Altrio's real estate deal management solution, Origin, is designed to complement the standardized investment workflow of clients by streamlining the management of pipelines, increasing communication and collaboration within teams, and providing a strategic data repository to fuel the most confident investment decisions.

Before implementing a deal management solution, it's important to have a basic understanding of the setup stage and key terminology such as “out-of-the-box”, “configurable” and “customizable” SaaS technology. This article clarifies these terms from the viewpoint of a Proptech vendor and deal management software provider.

Out-of-the-box software is a tech solution that requires minimal installation, set-up, or training. Configuration involves modifying the settings and parameters of a software application to meet the user's needs without making significant changes to its core functionality. Customization, on the other hand, involves making significant changes to the software's functionality to meet particular needs, which may involve writing new code or developing additional features.

With Origin, Altrio account managers work closely with clients to configure the software to their specific needs, allowing firms of all sizes to benefit from the latest updates and improvements without the need for customization. This is achieved by integrating the system with the current business practices, divisions, or sectors in a firm, mirroring the current investment and acquisitions workflow, matching the firms’ institutional guidelines for terminology and data fields, creating permissions requirements or hidden elements that are out of view to certain roles, matching the brand guidelines in the look and feel of the software, and following unique KPI’s and calculations.

During the user acceptance testing phase, Altrio collaborates closely with clients to guarantee that Origin fulfills their specific business requirements. Clients have the opportunity to confirm that Origin meets their specific needs, and any required modifications are made to ensure a successful implementation. By the end of the testing phase, users are excited to start using Origin for their day-to-day operations, marking the milestone where teams are no longer using their old systems for managing deals and are fully migrated onto Origin.

As teams continue to use Origin, there may be a need to customize certain components of the platform that require new development work. The Altrio team assesses the gap and researches new functionality that is prioritized based on their roadmap and shared use case across their customer base. They welcome feedback and aim to keep developing new iterations of Origin's offering with the customer's needs at the centre of their work.

In summary, implementing a deal management solution requires understanding key terminology such as “out-of-the-box”, “configurable” and “customizable” SaaS technology. With Origin, Altrio offers a configurable solution that allows firms to benefit from the latest updates and improvements without the need for customization. By collaborating closely with clients, Altrio ensures that Origin fulfills their specific business requirements, enabling a successful implementation and continued use of the platform.

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