Standards
Standards are critical to learn, analyze, and improve. Yet with every project being different, made up of new project team members, regulations tied to specific locations and of course, different scopes, standardization may be the biggest challenge the construction and engineering industry has faced. This challenge, for owners, manifest in the form of disparate data sources and formats, inconsistent processes, and disconnected systems.
Vesta was growing rapidly and transitioning from being a private company to a public entity. The company recognized the need to truly transform their business and started by bringing in the right talent and expertise to manage this transition. Ivan Saavedra Maufras brought over 25 years of commercial information and communication technology experience to Vesta.
He knew the criticality of standards and the necessity of selecting the right technology to support those standards. He led an extensive effort to assess and scope the organization’s needs and goals, define processes and source systems to meet these cumulative needs. The Oracle suite of solutions including, ERP, Capital Program Management, HR, and CRM, was selected by Maufras and his team.
The central systems Maufras put in place have provided Vesta with the benefits of standardization the organization needed. Focusing on capital program management, all individuals have access to the same consistent data, regardless of their location, which clients they serve or even what organization they are with. (Vesta uses Oracle’s Primavera Unifier to collaborate with their contractors and suppliers).
Vesta also uses standard approval flows to keep operations running smoothly. This consistency lets individuals be more efficient and allows Vesta to compare operations project to project to take corrective action when needed and share best practices across their 200 properties throughout 13 states.
Their standardization also provides Vesta with meaningful reporting across their portfolio, looking at cost forecasts, actuals, status, and risk in a comprehensive view.
Vesta’s lessons learned on standardizing across 200 properties
- Involvement/support of upper management is mandatory.
- Data management is essential.
- A single source of truth is needed.
- Always work with the customers in mind.
- First fix the processes, then standardize it.
Example benefits Vesta has achieved from standardizing
- 4 times faster lease renewals and turnarounds.
- 27 times faster contract administration.
- 30 times faster invoicing.
To achieve the transformation Vesta sought, they turned to the complement of standardization, automation.
Automation
Vesta underwent an extensive system evaluation to find the right solutions to meet their needs. System flexibility, proven success with global leaders, multi-language and currency support, interoperability and the opportunity to consolidate vendor relations with a suite of Oracle offerings, were key to Vesta’s selection decision.
