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As a family-operated group based in the Greater Toronto Area, the client has evolved from early beginnings in drywall contracting to becoming a significant player in real estate, with a portfolio spanning land development, property rentals, and construction management. Over the past two decades, the business expanded rapidly, managing an increasingly diverse range of properties across over 100 legal entities. As the portfolio grew, so did the need for a modern, unified system to manage rental contracts, construction projects, and financial operations more efficiently.
The client has partnered with YAVICA for over five years to modernize their operations and embrace digital transformation. In collaboration with Thinkmax, who led the implementation of Dynamics 365 Finance & Operations (D365FO), YAVICA provided the FlexProperty solution to address the real estate management needs of the group’s complex business structure.
Before engaging with YAVICA, the client relied on a custom-built legacy system for over 20 years. While tailored to their needs at the time, the software had become outdated, with separate systems for each business unit and heavy reliance on manual processes. Managing 150 properties, including 70 condo units and multiple commercial plazas, required manual tracking across various Excel spreadsheets – an approach that created inefficiencies and inconsistencies.
–Director of Technology Operations, client’s team
One of the biggest challenges was the complexity of migrating data from these legacy systems into a new, integrated platform. Each business unit had different requirements, and the client needed a solution to unify their operations without extensive customization. Additionally, with over 100 legal entities, the solution had to be flexible enough to handle complex financial structures.
The client faced another major challenge: simultaneously implementing D365FO and FlexProperty across three distinct business units. The ambitious goal was to achieve a simultaneous go-live, bringing together their rental management, construction project management, and drywall contracting divisions under one system.
While the initial plan was to launch all three business groups simultaneously, the complexity of the project and constraints on the client’s time led to a more phased approach. The client’s real estate and finance division went live in June 2024, with the other business units scheduled to follow in late 2024 and early 2025.
-Zenzo Wysocki, Functional Solution Architect, YAVICA
By taking ownership of the project and working closely with YAVICA, the client’s team was able to play an active role in the implementation. This ensured knowledge transfer and maintained momentum throughout the process. Our consultants provided hands-on training and support, allowing the client to gradually gain autonomy over the system.
– Controller, client’s team
At the heart of the project was the need for a unified system to handle the client’s complex financial and operational structure. FlexProperty, combined with D365FO, provided the flexibility and scalability needed to manage their diverse portfolio, offering tools for rental management, construction oversight, and financial operations – all within a single platform.
Customization was kept to a minimum to maintain the integrity of the core system, but specific adjustments were made to meet the client’s unique needs. This included building a repository within the project management and accounting modules to track ownership details, equity, project updates, and financing information across hundreds of real estate investments.
FlexProperty’s functionality also addressed the client’s challenges with TMI (Tax Maintenance and Insurance) reconciliation, which had previously been a labor-intensive and manual process. Although the client has yet to complete a full year in the live environment, multiple rounds of testing have shown promising results in simplifying this process.
Since going live with the real estate division, the client has seen notable improvements in operational efficiency. They have moved from a fragmented, manual process – where data was stored in multiple Excel spreadsheets – into a centralized platform where all property and project management data are integrated and easily accessible to all stakeholders in the company.
D365 F&O FlexProperty has become their “single source of truth,” enabling more accurate, real-time decision-making. The ability to manage contracts, properties, and invoicing across legal entities in one system has also been a game-changer.
–CFO, client’s team
The new system has significantly streamlined cross-company invoicing for their 100+ legal entities, reducing manual workload and increasing overall efficiency. The client now has a clearer view of their diverse portfolio, which includes residential, commercial, and land assets.
FlexProperty’s vacancy tracking features have been particularly helpful in optimizing asset management. The leasing team can now focus their efforts more strategically by quickly identifying vacancies and managing them more efficiently.
With the initial go-live completed for their real estate division, the client is already looking forward to the next phase of their digital transformation. FlexProperty has positioned them well for future growth in the real estate space, enabling them to manage their extensive portfolio of properties more efficiently and effectively.
–Controller, Client’s team
While they have already benefited from the system’s core functionalities, the client recognizes that there is much more to explore. Additional FlexProperty features – such as tracking insurance policies, key financial figures, and lease clauses – are next on the list for implementation, and the client is eager to see how these enhancements will further improve their operations.
As the client prepares to bring their remaining business units online in the coming months, they continue to rely on YAVICA’s support and expertise. The partnership has been key to the project’s success, and both teams look forward to building on this solid foundation in the coming years.
The client went LIVE with YAVICA FlexProperty on Microsoft Dynamics F&O in June, 2024.
YAVICA
Manage large amounts of data with company groupings, hierarchal structures and enhanced reporting.
YAVICA
A scalable solution to process, handle and optimize large volumes of debts and commitments in Microsoft Dynamics 365.
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