Challenge.

McLaren Property was experiencing operational challenges that impacted project management effectiveness, financial visibility and strategic decision-making capabilities across its expanding real estate portfolio.

The main issues included:

• Project Visibility: McLaren’s expanding portfolio exposed critical strategic limitations in project oversight, hindering cost tracking and comparative analysis between initial and latest appraisals.
• Data Inconsistency: Variations in information formats heightened the risk of errors, impacting the reliability of the data.
• Manual Invoice Processing: Invoices had to be manually inputted and processed through multiple teams, which was a time-intensive and resource-draining exercise. This caused delays in approvals and accessing the latest financial information impacting both development and finance teams.

These issues led to a time-intensive process, making it difficult to access accurate, up-to-date information quickly for board reports and financial planning.

Solution.

fu3e provided a tailored solution to address McLaren Property’s specific operational challenges. Through process automation, real-time data access and custom integration, we helped streamline workflows and enhance visibility.

Key components included:

• Standardised Appraisal Format: fu3e introduced a standardised format that allowed live access to both original and latest project appraisals, reducing chance of errors and improving data trust.
• Clear Approval Workflow: An established approval process streamlined invoice processing, connecting the development, finance and accounts departments efficiently.
• Custom API Integration with Xero: The custom-built API between fu3e and Xero enabled automated invoice submissions from the development team, allowing finance to approve efficiently.
• Real-Time Data Access: fu3e provided live data on actual spend against cash flows and budgets, improving financial forecasting and planning.

These issues led to a time-intensive process, making it difficult to access accurate, up-to-date information quickly for board reports and financial planning.

Results.

The implementation of fu3e’s system has significantly enhanced McLaren Property’s operational and financial processes, yielding measurable outcomes:

• Automated Invoice Processing: The development team now benefits from immediate access to invoices and a well-defined structure for tracking appraisals, promoting accountability across projects.
• Access to Live Cost Vs Budget: Streamlined tracking processes enabled real time access to cost expenditure, identifying key trends over time and promoting proactive decision making.
• Time Savings: Significantly reduced time to prepare reports across both project and portfolios allowing more time to be focused on strategic decision making.

fu3e’s solution has established a robust operational foundation for McLaren Property, driving continued efficiency gains and equipping the organisation to make well-informed decisions in support of future growth.