Harrison Street & fu3e. Case Study

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Harrison Street & fu3e.

Case Study

Global transparency: Providing best-in-class adaptive management reporting for leading investment management firm, Harrison Street. Harrison Street is a leading investment management firm exclusively focused on alternative real assets. Headquartered in Chicago with offices in London, Toronto, San Francisco, and Washington D.C., the firm has more than 220 employees and approximately $50 billion in assets under management. Since 2005, Harrison Street has managed over 853 investments and currently collaborates with over 115 partners across multiple sectors and regions. In a fast-paced and high-pressure environment, transparent reporting across a varied portfolio of assets is critical. With increasing opportunities to scale the business, Harrison Street had an opportunity to improve reporting across the business and standardise processes to further enable senior management to make informed, rapid, and accurate decisions. Streamlining a booming business As an industry leader, Harrison Street is keen to lead the way with optimised processes and reliable procedures. In an increasingly crowded industry, Harrison Street realised the opportunity to stream-

line reporting formats and approval processes in order to ensure it maintained its competitive edge. With Harrison Street’s team expanding into different locations, having a centralised data storage system was a must. Not only this, the company needed to ensure projects remained aligned so that management teams had clear visibility of progress, success, and results. Introducing fu3e. fu3e. is an adaptive reporting software solution designed by industry experts to manage Real Estate for a new age. fu3e. digitises the collaboration between existing management software to create ‘The Single Spine of Truth’ with incredible efficiency, offers solutions to monitor business risks, and improves process management with simple user interactions. Harrison Street approached fu3e. in 2021 to help develop the company into an agile business that could continue to scale with ease. After initial discussions between both businesses, the fu3e. team - led by Management Solutions Director, Karl Gleave - identified pain points and understood the company’s long-term need for this platform.

By using fu3e.’s software, the team were able to deliver an adaptive solution that could be used across the whole Harrison Street European Portfolio. Through understanding the company’s challenges, fu3e. was able to simply digitalise its operation and deliver a standardised reporting format so the whole team can report to Harrison Street management in a consistent manner. As a result, Harrison Street is able to utilise its data more effectively, by comparing projects directly. Not only this, managers and project leads have increased visibility of the portfolio’s performance; fu3e. built project and portfolio dashboards so that data can be instantly visualised. The dashboards are updated in real-time so that managers can monitor progress and take preventative action more effectively in case of any critical issues. Elsewhere, fu3e. provided Harrison Street with a way to store files in a centralised format. No matter where the team is located, files can be accessed easily and presented to show which version is the most up-to-date. What’s more, fu3e. built approval processes within the software, so that when a document is issued, it’s automatically assigned to someone for sign-off. A bespoke world-class solution fu3e. was able to complete the initial project from inception to go live – within months. Since then, Harrison Street has found fu3e.’s software so successful that they have continued to work closely with fu3e. to add additional functionality. Through this evolution, Harrison Street now has a system that replicates its traditional, manual processes in a digital and standardised way. Paul Bashir, Harrison Street’s CEO of Europe, comments: “fu3e., the leading real estate technology platform, is a game-changer. It gave us the imme-

diate transparency we needed to make informed, rapid, and accurate decisions.” The fu3e. platform has worked so well for the Harrison Street team because it can provide insight on projects with a high-level snapshot overview, or it can display data on a more detailed, granular level, depending on what is needed. The platform has been set up to be permission-based, so more senior-level management has access to overviews for all projects, whereas project managers may have limited access to oversee only what they are active on. With fu3e. having rolled out the software for Harrison Street’s entire European portfolio, the team has already seen significant improvement in reporting efficiency, as well as reducing operational costs by saving time across project teams. Karl Gleave adds: “It’s been brilliant to see the impact fu3e. has had for Harrison Street in such a short period of time. Through our highly customised platform, we’ve built the team exactly what they need, in a way that ensures they’ve been able to transition from their traditional method of management and reporting to this digital process. “We’re very pleased with the success of this project and look forward to continuing working with Harrison Street in the future.”

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