Colliers Rebuilds its Real Estate Deal Management System with OutSystems 7 min
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OutSystems today announced that global real estate leader Colliers International is using the OutSystems low-code development platform to create modern business apps. The team has rebuilt Colliers’ mission-critical deal management system and is spinning off new applications to speed up transaction flows and streamline monthly reporting.
Colliers, a leading real estate services and investment management firm, went live with a customized system called “Our Deals” in October 2019. The system modernized a deal-tracking program that had been updated many times over the years to incorporate organizational changes, industry best practices, and country-specific requirements.
“Our business depends on our ability to process complicated deals for a wide variety of business interests. We are leaders in the industry and expect our technology to be on the same level,” said Mihai Strusievici, Global VP of IT for Colliers. “After considering buy and COTS (commercial off the shelf) options, we decided to rebuild what we had from scratch to create a solution that met our requirements exactly. At the same time, we decided to revisit our whole approach to application development to make the business more agile.”
Colliers turned to low-code app development because it provided the ability to deliver custom applications faster and at lower costs than revising an off-the-shelf system. The company chose OutSystems to take advantage of the platform’s strengths in areas such as managing underlying data, building a modern user interface, and supporting an iterative development approach.
The Our Deals system serves brokers, client project coordinators, deal administrators, and various finance roles. It processes every deal from start to finish, from registration to invoicing to the payment of broker commissions, serving as the repository for all deal documentation. Brokers and managers can access Our Deals from their mobile devices, giving them convenient access to deal information including progress alerts and required actions.
Colliers also found time to deliver six other applications using the OutSystems platform. The team created a commission calculation app that has shortened processes that used to take two days down to 20 minutes. Another app has streamlined Colliers’ end-of-month closings across 100 legal entities and 600 departments.
“With OutSystems, we’ve been able to deliver a state-of-the-art application that does everything we need in far less time and at less cost than any other avenue we could have taken,” Strusievici said. “The team’s success is a ringing endorsement of our low-code approach, which delivers modern business solutions faster in a more cost-effective way and gets business units more invested in the development process. That’s fueling demand for similar projects across the business and accelerating our digital transformation.”
About Colliers International
Colliers International (NASDAQ, TSX: CIGI) is a leading real estate professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn.
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