Established in 2016, Pallas Capital specialises in the financing of Australian commercial real estate, focusing on the mid-market sector. To date, the company has undertaken more than $875 million in investments.
"Historically, like many organisations, we relied on a series of manual processes to support our company's day-to-day activities," said Pallas Capital head of operations David McGilvray. "However, with Pallas Capital's annual business growth rate above 75%, these highly manual and paper-based processes were becoming increasingly complex and inefficient."
2021 New Years' goal: drive process improvements and reduce reliance on Excel
To drive process improvements in lending operations, achieve strict regulatory compliance, and better manage risk, Pallas Capital sought a process mapping software solution that could be leveraged by its employees to easily document and collaborate on the company's core processes and reduce the team's reliance on Microsoft Excel.
Pallas Capital selected Nintex Promapp and deployed the process management tool in April 2021, which has already resulted in the mapping of more than 100 processes, with an additional 100 processes scheduled for completion within two months.
"We were particularly impressed by Nintex Promapp and the way it empowers teams to quickly and easily capture business processes, enabling teams to examine processes across the organisation and have them documented in a consistent way," said McGilvray.
Once a process has been fully documented and mapped, it is stored online and made readily available to anyone who requires it. This also allows regular reviews to be undertaken with improvements easily made, documented and communicated.
Expanding on business benefits
Pallas Capital has already begun to enjoy some significant business benefits since leveraging Nintex Promapp to drive continuous process improvements. As an example, newly-hired staff can rapidly get up-to-speed with the company's processes while the productivity of existing Pallas Capital staff has improved thanks to visibility into processes. A series of process templates has also been created which further improves workflows.
"Nintex has served to enhance our due diligence processes," said McGilvray. "This is critical for our business as investment comes down to accurately assessing and managing risks."
Pallas Capital is also looking into additional ways in which Nintex will be put to work within the company over the coming months. One involves leveraging the automation capabilities of the Nintex Process Platform to support the development of new technologies within the firm.
"Nintex's complete process management and automation capabilities will help our organisation to further automate workflows and support our ongoing growth in client numbers and funds under management, ensuring we retain our position as a market leader in our sector," McGilvray concluded.
Nintex is the global standard for process management and automation. Today more than 10,000 public and private sector organisations across 90 countries turn to the Nintex Platform to accelerate progress on their digital transformation journeys by quickly and easily managing, automating and optimising business processes. Learn more by visiting www.nintex.com and experience how Nintex and its global partner network are shaping the future of intelligent process automation (IPA).