Meghan Kern, our admin and operations manager, and Zachary Rhoad, P.E., PMP, our director of project management, led our recent lunch-and-learn to unveil a new tool in our development process, designed to improve the way we manage bonds across our projects. 🚩 Our bonding process required multiple touchpoints and was quite complicated, given the large inventory of bonds across our projects. Managing new requirements, expiration dates, reduction requests, and coordination with our sureties and regulatory agencies was cumbersome and time-consuming. Meg and Zach knew there was a better way, and took the initiative to create it. 🗺️They started with Visio, mapping out all the steps with a cross-functional flow chart to show how every element should work together. 🧔 Once they were satisfied, they sourced and engaged a consultant to build JLAM a proprietary solution utilizing a database management system & automation to initiate, manage, and report on all bond requirements across our portfolio. 🏃With the new process up and running, we have already realized significant operational efficiency and enhanced financial controls. This translates to saved time for our team and ultimately contributes to driving better returns for our partners. Visit our website to learn other ways we set a higher standard in real estate investing: www.jlamre.com #realestateinvesting #realestatedevelopment #ahigherstandardinrealestateinvesting
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