Enterprise Data, Operations and Reporting in the Cloud
Franklin Street’s enterprise software modernization was performed without disrupting day-to-day operations of business lines it drives
Software sprawl introduced a lack of cohesion across the company and significant manual work to produce business reports. MercuryWorks developed a comprehensive cloud-based firm management system to provide executives full end-to-end visibility to all deals across business lines. The app greatly increases efficiency of transaction processing, provides smooth access via mobile devices and delivers a plethora of executive-level analytics.
After several years of active growth, Franklin Street’s business line agents had adopted myriad real estate industry point solutions to run their day-to-day operations. This software included independent desktop-installed software packages and client-server systems running on premises. While agents were enabled in their individual work, the software sprawl introduced a lack of cohesion across the company and significant manual work to produce business reports. Franklin Street knew they needed to use technology to leverage its team’s extensive market intelligence and industry expertise and create a point of competitive advantage.
MercuryWorks went to work to develop a comprehensive cloud-based custom firm management system to provide executives full end-to-end visibility to all deals across business lines. The resulting application called “Frankie” provides custom CRM management for all properties Franklin Street manages and the people with whom they interact with across the entire enterprise. Agents and line leads now have the ability to smoothly connect deals to centrally-stored contact people and properties entities while IT can rest easy with this central and secure storehouse for enterprise data. Modernized transaction management for all business lines fully integrates into the digitized Frankie process.
Frankie has enabled Franklin Street to eliminate several manual processes and dramatically increase information visibility. Invoices are now system-generated and automatically emailed, as scheduled. Complex commission calculations are now computed by Frankie with an integrated workflow that allows agents full transparency to calculations prior to processing. Reports are produced in real time from transactional data in the system for executive management via dynamic dashboards. Frankie greatly increases efficiency of transaction processing, provides smooth access via mobile devices and delivers a plethora of executive-level analytics.
People and Companies
The cornerstone of every Franklin Street business process is the client – properly researching, engaging with, intuiting business needs and tracking interactions are key to forging a deep business relationship. The customer relationship management (CRM) aspects of Frankie enable Franklin Street professionals to do just that – associate all contacts with relevant properties and business activities, track all phone calls, emails and other touches and compile a detailed dossier of every partner.
Each deal that Franklin Street manages revolves around a piece of real estate property. The Frankie CRM provides long-term tracking and management of these properties including a wide array of property attribute data, historical ownership history, and detailed history of each transaction and service type associated with the property. This linkage allows visibility across business lines to facilitate cross-selling and proved the clients with a rich, unified experience.
Franklin Street manages are complex, long-running transactions. Frankie allows agents to easily manage transaction by capturing all relevant data points, performing analytical computations and capturing all associated documentation so that Frankie is the single source of truth for that deal. Workflow management with progressive validation rules ensure data quality including detailed commission calculations and deal splits.
Other Key Highlights
Enterprise data in every form factor
Vast customer, property, financial and deal data is available to agents and business managers on desktop, tablet and smartphone. Powerful search makes everything accessible to users.
Financials at Their Fingertips
Unifying non-integrated systems and processes into a single enterprise system for transaction tracking allows agents to manage individual transactions and all financial data is derived from this data
90%+ enterprise adoption rate
A continuous delivery strategy that incorporates feature flags allowed Mercury to perform new development without impacting current daily users. 50+ interruption free production releases in one year
"Mercury team members have the unique ability to blend forward looking thinking and innovative technology with pragmatic and practical ideas for implementing."
Managing Director, Franklin Street
Behind The Curtain
Provides a robust data storehouse and query platform to store contacts, companies, properties, transactions and other business data. In-cloud SQL Server was used to provide instant scalability and rapid querying.
Provides database storage, web app, authentication and web services. Azure provides an ideal solution for back end mobile applications with a multi-data center Infrastructure as a Service (IaaS) cloud solution that offloads bare metal and network connectivity oversight to Microsoft.