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.
Mihai Strusievici, Global VP of IT for Colliers, said:
"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. 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."