Case Study: Crescent Communities achieves automated cash flow reporting and faster, accurate project cost insights with Prophix Software

Crescent Communities - Customer Case Study

Crescent Communities, a Charlotte-based real estate and development firm with $1.2B in assets and about 170 employees, faced time-consuming, error-prone financial processes. Cash flow reporting required days of manual gathering and rekeying from multiple sources, project-level reporting was difficult across roughly 100 legal entities in four business units, and consolidating actuals, forecasts and budgets risked late-term cost surprises. Their primary objective was to automate cash flow reporting and improve multi-level project cost visibility.

They implemented Prophix CPM after a formal vendor selection for a configurable, cost-effective solution the accounting team could maintain. Cash flow reports now generate in minutes rather than days, project cost data and executive reports are available on demand at any consolidation level, and centralized ad hoc analysis enables better comparisons (actuals vs. budget, historical plans) and faster, data-driven decisions that help prevent overruns.

Crescent Communities

Ryan Wheatley

Assistant Controller