Case Studies AvalonBay Builds More Affordable Housing With Better Planning

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	AvalonBay Builds More Affordable Housing With Better Planning

AvalonBay Builds More Affordable Housing With Better Planning

Technology Category	Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Functions	Business Operation Facility Management
Services	Software Design & Engineering Services System Integration
Challenge	AvalonBay assesses investment opportunities in the field but lacked a central tool to capture the high level of detail involved in each assessment. Development decisions were based on memory, incomplete information, and gut-feel, leading to lost opportunities and risky investments. Risky decisions could put the company’s share price at risk, along with affordable housing plans for those in need. Read More
About Customer	AvalonBay Communities, Inc. is an Equity REIT (NYSE: AVB) in the business of developing, redeveloping, acquiring, and managing multifamily communities. With revenues of $2 billion and headquartered in Arlington, VA, AvalonBay is a significant player in the real estate and property management industry. The company is committed to creating a better way to live by focusing on affordable housing and community development. AvalonBay employs over 1,000 people and uses existing software like PeopleSoft - ERP to manage its operations, including budgeting, planning, and forecasting. Read More
Solution	A centralized database was created to serve as a single source of up-to-date information, accessible from both headquarters and the field. An Excel user interface was implemented to make it easy to enter over 500 line item details, covering everything from land leases to appliance costs. Vena’s scalability and ease-of-use allowed 650 employees to start using the software immediately. This solution provided AvalonBay with total visibility into their investments, significantly reducing risks in each development decision. Financials are always up to date, enabling ongoing pro forma analysis. Investment decisions are now based on timely, accurate data, allowing AvalonBay to focus on its mission to create a better way to live. Read More Log in to view content
Contents

Technology Category

Functional Applications - Enterprise Resource Planning Systems (ERP)

Applicable Functions

Business Operation

Facility Management

Services

Software Design & Engineering Services

System Integration

Challenge

AvalonBay assesses investment opportunities in the field but lacked a central tool to capture the high level of detail involved in each assessment. Development decisions were based on memory, incomplete information, and gut-feel, leading to lost opportunities and risky investments. Risky decisions could put the company’s share price at risk, along with affordable housing plans for those in need.

About Customer

AvalonBay Communities, Inc. is an Equity REIT (NYSE: AVB) in the business of developing, redeveloping, acquiring, and managing multifamily communities. With revenues of $2 billion and headquartered in Arlington, VA, AvalonBay is a significant player in the real estate and property management industry. The company is committed to creating a better way to live by focusing on affordable housing and community development. AvalonBay employs over 1,000 people and uses existing software like PeopleSoft - ERP to manage its operations, including budgeting, planning, and forecasting.

Solution

A centralized database was created to serve as a single source of up-to-date information, accessible from both headquarters and the field. An Excel user interface was implemented to make it easy to enter over 500 line item details, covering everything from land leases to appliance costs. Vena’s scalability and ease-of-use allowed 650 employees to start using the software immediately. This solution provided AvalonBay with total visibility into their investments, significantly reducing risks in each development decision. Financials are always up to date, enabling ongoing pro forma analysis. Investment decisions are now based on timely, accurate data, allowing AvalonBay to focus on its mission to create a better way to live.

Impact #1	Improved access to planning data in the field.
Impact #2	Hitting company and market targets.
Impact #3	Increased confidence in the success of the communities involved.

Impact #1

Improved access to planning data in the field.

Impact #2

Hitting company and market targets.

Impact #3

Increased confidence in the success of the communities involved.

Benefit #1	Revenues: $2 billion
Benefit #2	650 employees using the software immediately

Benefit #1

Revenues: $2 billion

Benefit #2

650 employees using the software immediately

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Overview

AvalonBay Builds More Affordable Housing With Better Planning

Operational Impact

Quantitative Benefit