"As a real-estate company, we have hundreds of bank accounts. With Vesto we can finally view all of our cash in one platform."
About
Fort is a real estate investment firm, with over $2.1B in transaction volume of industrial assets throughout Texas, Florida and Tennessee.
Founded by Chris Powers, Fort has a culture of tech innovation, with a focus on turning data into a competitive advantage.
The Challenge
As a real estate owner/operator, as well as property manager, Fort has grown their cash footprint across hundreds of bank accounts, dozens of banks, and entities. With this spread out cash footprint – along with a growing finance team – it would take hours for the Fort team to log-in to all of their accounts and get a view of their balances, transactions and loan accounts. Having one view of their cash position, and a centralized transactions log were key for Fort to make operating decisions, and close their books on time.
On top of day-to-day visibility for the finance team, Fort needed a way to consolidate their banking data into a data-warehouse, to make available into their proprietary 'Fort Operating System', an internal software tool that consolidates data across the firm. The team had previously tried other solutions to consolidate banking data, but never found a solution that worked well, until they found Vesto.
The Solution
Fort partnered up with Vesto to connect and consolidate all of their banks into one dashboard – giving the team a single sign-on for the team to view balances, transactions, and loan accounts in one view.
Given Fort’s growing finance team and their respective responsibilities, Fort took advantage of Vesto’s granular user management features – controlling underlying user access down to the entity and account level. On top of accessing the Vesto dashboard, the Fort team integrated with Vesto’s API, enabling them to take all of the banking data Vesto has consolidated and feed it into their own data warehouse for further data visualization and integration with the Fort Operating System.
Ultimately, Vesto made it easy for Fort to connect all of their accounts in one platform, enabling them to speed up their decision-making, and close their books faster, with less headache.
The Results
With Vesto, the Fort team was able to eliminate countless hours of manual data collection work, and ultimately speed up their cash flow monitoring and reporting process, as there’s no longer a need to traverse between bank portals manually.
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