Victoria Asset Management – CloudEstate
Sector Financial Services
Project CloudEstate – Financial Asset Management System
Victoria Asset Management (VicAsset) is an integrated real estate asset management business, focused on delivering superior asset management services for capital invested by Oaktree Capital Management.
VicAsset supports Oaktree Capital in
the underwriting and management
of investments across the capital
structure in all commercial real
estate asset classes; ranging from
non-performing loan investments,
direct assets and preferred equity
interests, corporate restructures and
structured finance opportunities.
VicAsset's team had a requirement to have a robust and scalable system that could manage their growing portfolio. They wanted to achieve a reduction in time spent on administrative tasks, as well as having the capacity for new modules to be added on demand.
Cloud Estate is VicAsset’s cloud-based
asset management platform that has
been built to efficiently track the
commercial real estate assets they
manage. CloudEstate provides
visibility over all business transactions,
invoice & cash management, as well
as generating reports for
business analysis.
The system consists of various
modules; an asset management
module, accounts payable, cash
management, investor reporting
and most recently; a timesheet
module that has been developed to
track the hours their team members
spend managing each project.
01
Limited Features
02
Not Meeting Requirements
03
Communication & Cost Issues
01
Bespoke
02
Team
03
Communication
04
On-Going Support
- VicAsset’s portfolio team is spending significantly less time reconciling data due to the improved accuracy of cash transactions in the Cash Management module.
- More accuracy in the invoicing process, which reduces the risk of potential losses and time spent with auditors.
- £200k in cost saving over 1 year, if internal developers had been hired.
- Significantly enhanced audit trail and security to give key stakeholders comfort that core processes are being followed.
- Costs reduced in 1.8 times in comparison to previous outsourced provider.
Infrastructure
Frameworks
Application
Logging
Testing
CI and CD environment
Database
Apr 2019 - Feb 2020
Accounts Payable module started development in April 2019 and was released to the business in February 2020.
Jun 2019 - Oct 2020
Cash Management module started being developed in June 2019.
Aug 2020 - Sep 2020
Timesheet module has started in August 2020 and was released in September 2020.
The team has been scaling back or up, depending on the phase of the project.
The size of the team has fluctuated, depending on the phase of the project. The current team consists of 1 Business Analyst, 3 developers and 1 tester.
