Sydney-based Pallas Capital has chosen Nintex Promapp to drive operational efficiencies and streamline workflows within the business.
Nintex Promapp is the visual process mapping and management capability of the Nintex Process Platform.
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.
Speaking on the decision to invest upgrading operations and workflow solutions, Pallas Capital head of operations David McGilvray says, "Historically, like many organisations, we relied on a series of manual processes to support our company's day-to-day activities.
"However, with Pallas Capital's annual business growth rate above 75%, these highly manual and paper-based processes were becoming increasingly complex and inefficient.
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 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 resulted in the mapping of more than 100 processes, with an additional 100 processes scheduled for completion within two months.
McGilvray says, “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.
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 made, documented and communicated.
In addition, Pallas Capital states the company has experienced other benefits since leveraging Nintex Promapp to drive continuous process improvements.
As an example, newly-hired staff can get up-to-speed faster, and 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.
McGilvray says, “Nintex has served to enhance our due diligence processes. 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.
McGilvray concludes, “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."