MTBT brings balance to the rapid growth of Devonshire REIT

Devonshire REIT Case Study

BACKGROUNDDownload PDF

Devonshire REIT, Inc. is a private commercial real estate investment company. The company is built to provide productive investment vehicles for private and bank trusts, as well as other fee-only advisors.

Devonshire’s management team averages 25 years commercial real estate experience and has bought, sold or developed over $3.2 billion in combined properties. This experience has been key in growing Devonshire from $6 million to over $515 million in total assets and 4.9 million square feet under management in only 6 years.

CHALLENGE

Rapid growth is a problem that most businesses hope to have, and that was exactly what Devonshire REIT was experiencing. The business had doubled in size for two consecutive years and that rapid growth gave Devonshire REIT’s IT Director Dave Cole a number of new challenges.

“Our printing capacity didn’t scale with our growth and we needed a partner to help us do that”, Cole said.

MT Business Technologies (MTBT) Account Manager Chris Bell met with Cole to learn more about the challenges facing Devonshire. Following that meeting, Bell took an inventory of who was printing, how much was being printed, and where it was coming from.

Upon review, MTBT found that the company’s challenges arose directly from their rapid expansion. The company’s various devices had been bought on an as-needed basis from multiple vendors and retailers. Additionally, the company had not had the time to design and commit to a long term printing plan. The result was a system of mismatched devices and accompanying issues of cost control and time management.

SOLUTION

MTBT proposed a simplified solution involving three copiers, a wide format printing solution, and managed maintenance. In addition to the new devices, MTBT would perform service, maintenance, and proactively track print consumables for Devonshire REIT.

RESULTS

Since then Cole has noted increased efficiency in time and savings. Devonshire REIT employees are able to more easily manage the large number of blueprints, legal documents and records that move through their office. With the addition of the new large format printer, Devonshire REIT is able to more easily scan and store a vast library of blueprints.

Thanks to MTBT’s management and oversight of the process, employees could focus on advancing the company’s growth rather than running errands to various stores to fix the latest problem with supplies or devices.

Cole noted that he enjoyed his new lease’s flexibility. MTBT offered a number of provisions that allowed him to adapt with changes.

“Nobody likes to get locked into a deal that isn’t beneficial for both parties,” Cole said.

“We have seen efficiency gains,” Cole noted. “We were able to size everything accordingly and have provisions to adjust as necessary.”

He also found that Bell’s initial usage projections proved “very accurate” and making for an even smoother transition to new devices and processes.

Additionally, Cole has been pleased with MTBT’s emphasis on customer service.

“They’ve always have been timely in responding to our needs” said Cole. “Typically, any time parts are needed they are here the next day.”