Case Study

Charter Hall increases business agility with MRI Software

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Charter Hall began as a boutique investment management firm and grew into a full-blown real estate investment trust (REIT) managing nearly $23B AUM across three sectors: commercial, retail logistics, and industrial warehousing space.

Business Challenge

By 2014, Charter Hall had expanded beyond what its systems could handle after growing rapidly for ten straight years. The firm took on additional funds and added staff, but the funds it managed also became more complicated and, in many cases, had different requirements. The sudden growth increased the organisation’s operational costs and also limited its flexibility to respond to new opportunities, quickly pull together fund models, and understand the impact of scenarios on the business.

Solution

Charter Hall implemented the MRI Investment Modelling suite to improve automation and funds management capabilities and streamline the complexities of Australian fund modelling. The new technology initiative also offered the opportunity for the firm to reevaluate its processes and data quality in parallel to the implementation process.

Business Impact

Charter Hall has increased its strategic edge with the ability to simulate the organization’s response to shifts in financial, capital and leasing markets.

Automated forecasting

This feature of the Investment Modelling suite replaces the transfer of thousands of excel tabs through the various levels of the business with an automated, “point‐and‐click” systemized transfer. This helps Charter Hall make better decisions regarding what lies ahead for the business.

Efficient budgeting

By speeding up and automating the budgeting and forecasting processes, the company saved significant time – tasks that used to take weeks now take less than a day, and forecasting can be done quarterly instead of twice per year. Charter Hall envisions reducing the time of their budgeting cycle even further in the future to drive increased agility in decision making.

Greater visibility

With better calculations and quicker automation, Charter Hall has access to real‐time forecasts and stats that were previously buried in spreadsheets, or manually shared via email.

Speed and accuracy

Performing calculations within a controlled environment results in faster, higher quality outputs and offers direct access to data for users across the organization. Reducing the inherent error-risk of spreadsheets increases accuracy throughout the foundation of the firm’s forecasting.

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