The Stone Group Saves Time Managing Entities While Acquiring New Businessusiness

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Overview

The Stone Group is a corporate real estate services firm that helps companies maximize return and minimize expenditure by putting plans into place that better administer leases and manage real estate transactions. With national tenant representation, The Stone Group manages well over 1,800 leases.

The Stone Group was in the market for a solution that provided a central location for them to store all their documents associated with the many entities they were handling and a way to remove silos from their data. Owner, Michael Stone has acquired many businesses as The Stone Group has grown and the new mergers added more documents and entities to keep up with.

Streamlining processes and removing silos

Stephanie Torres, Operations Manager, and Daniel Hawkins, Project Manager at The Stone Group, needed a solution for storing all of their documents in one place. A team of five people worked on and managed multiple spreadsheets and documents for their 40 plus entities. Version control quickly became an issue along with reducing the manual time it took to build certain charts. Stephanie Torres said “The challenge comes from the process. Manually updating charts and keeping track of the many documents.”

“It’s been difficult streamlining processes, especially now that there are more team members involved in different segments of the business.”

– Daniel Hawkins

With the constant ownership changes, having a way to view organizational charts quickly became imperative. “It would be beneficial to have a single point of truth to create structured diagrams, update ownership changes, and store documents,” says Daniel Hawkins.

The Stone Group team was in the market for a simple solution that could be up and running quickly. Their goal was to simplify their process, reduce the amount of time spent manually updating spreadsheets or creating charts, and give proper access of entity data to team members. While shopping around, they noticed other companies focused a lot more on compliance, which was the least of their worries.

The Results

“Before going with EntityKeeper, all entity information was kept in an Excel Spreadsheet and shared via Dropbox. Now our process is a lot simpler when it comes to storing and referring back to documents after they have been filed.”

– Stephanie Torres

Building organizational charts in PowerPoint is a way of the past. Now, any time there is a new acquisition or ownership change, their COO can quickly make changes and share with the group as needed. Keeping a group of colleagues associated with the entity informed no longer required a long process of manual tasks. EntityKeeper gave the team secure access to certain areas of the business from one central database. Today The Stone Group team is more well informed and able to work more efficiently with EntityKeeper.

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