Reducing the complexity of property taxes
When a leading investment banking services firm wanted to reduce the complexities of property taxes, we helped create a next-gen commercial app that made it happen.
Navigating the complexities of property taxes can be labor intensive and time consuming—even for industry professionals. Our client, a leading financial advisory and investment banking services firm, brought us in to help solve that problem. Using Microsoft technologies, we developed a custom property tax application—a solution that’s now being packaged and resold beyond the financial services industry.
Data application challenges
Our client faced some definite challenges with its legacy data application:
Decentralized data storage outside of the app
Firm’s brokers forced to start from scratch with every new business cycle
Inability to track the varying rules, due dates, and tax rates unique to each tax assessor
Our client wanted to simplify things. Its newly-created Center of Excellence (COE) for property tax compliance and advisory services identified an opportunity to create a first-of-its-kind property tax application. But it wanted a partner with experience to design, develop, and deploy the solution.
“I’m excited about what we created with our partner, Slalom Consulting. We combined a new set of business processes with the best of Microsoft development technologies to build a next-gen commercial application.”
Using the best of Microsoft development technologies, we delivered a comprehensive, end-to-end solution to our client that met its full software development lifecycle needs. The integrated project lifecycle allowed for better traceability and tracking of the project work and progress—a necessity given the complexity of the business domain and the vision of the core technology platform being developed.
Through a partnership with our client’s COE, we designed, developed, and implemented the property tax application. Project management was key to the success of this effort, allowing us to effectively manage change within the organization and deliver results on-time and on-budget.
“We are known for our expertise in the financial services industry. Adding a cutting edge technology component to our offering will not only allow us to stay ahead of our competition, but add $30M in annual reoccurring revenue by 2018. This application extends our lead as one of the trusted property tax advisors in the US.”
Custom tax app launches new business line
Our efforts supported one of the company’s most important strategic initiatives. The new app has netted a 20% increase in productivity, which translates to additional annual profit of $1M.
Working hand-in-hand with our client, we delivered a custom web-based application that will not only increase employee productivity; it will also provide new opportunities to secure clients while increasing revenue.
Though the property tax application was built for a specific customer, its commercial appeal, need, and potential spans the financial and investment banking industries and beyond. The firm has packaged the app for commercial availability to serve a broader range of customers and markets. It’s anticipating that the application could generate additional revenue of up to $30M—effectively increasing the firm’s value by $100M.