“With the help Canopy and its talented consultants, we were able to bring rigor to our financial processes, allowing us to make better decisions for our investors.” —Daren Schmidt, managing partner, Allante Properties, LLC.
Founded on the heels of the Great Recession, Denver’s Allante Properties has burnished its reputation as a multifaceted real estate firm that aggregates private investors to fund acquisitions and developments of apartment communities.
In 2016, the firm determined it needed a more streamlined approach to its finance system to ensure that there would be no gaps in how staff at the corporate office managed cash flow and accounting processes with its subsidiaries and project entities.
“We’re a small company with big projects, and our finance and accounting system was not where we wanted it to be,” says Daren Schmidt, managing partner, Allante Properties, LLC.
The firm engaged Canopy Advisory consultant Jennifer Almquist — whose expertise lies in solving complex issues concerning corporate finance, accounting and finance reporting — to take a deep dive into Allante’s existing finance and accounting processes, and make several high-level recommendations for a more efficient operation to support the company’s strategic objectives.
During extensive staff interviews and a thorough financial audit, Jennifer discovered process gaps in Allante’s finance functions that stemmed from a lack of centralization affecting the accuracy, timing and efficiency around its financing.
Based on Jennifer’s recommendations, Allante then brought in consultant Erica Roybal, herself a CPA as well as a financial analyst, to crunch the numbers, update processes and help ensure financial consistency across the organization.
By teaming together to analyze, recommend and institute more discipline to Allante’s accounting and finance system, Canopy’s consultants succeeded in elevating Allante’s internal financial processes so it could better serve its external constituents.