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Editor's Notes

• #2: Thank you. ? 30 minute conversation and 15 minutes of questions VADAR background: 20 years, $2B A.U.M., 100 clients. Jed background: Technology Business Development w/Northrop, Linksys, Cisco Systems We're here to talk Profit from Efficiency
• #4: Investing and Business Management 2 different things
• #5: Cost=Risk?and Slow Email isn't free. ?Risk of attachment errors and data loss. Excel isn't free. ?10 Spreadsheet Sinkholes. Laptop and PC storage risks losing it all. Worst of all are inefficient processes that add up exponentially faster than investment growth.
• #6: What is your office��s readiness? Time efficiency? Profitability?
• #7: Does your back office look something like this? ?Common Characteristics 1. Compartmentalized or 1 person 2.Series and sequential vs. Parallel and real time 3.Audits require going over everything all over again 4. Slower analysis and decision making than the competitor
• #8: Case by case and 1-person knowledge are costly, slow, risky Need to plan a central, cohesive process to scale efficiently, profitably Slow grooves become trenches and hard to change
• #9: How much would one breach cost you?
• #10: Vulnerable to Fraud. Over $1 Billion in fraud has been lost to date. Spreadsheets are vulnerable from a lack of controls. Common, easy formula/value alterations without detection. Susceptible to Human Error. Trivial human error (e.g. missed negative signs, misaligned rows) can not only cost $ in losses, but entire credibility with lenders. Difficult to Test. Almost impossible to test tables against the above. Worse, inter-related spreadsheets spread across folders and workstations. Worse still, tracing formula logic from one related cell to another can take thousands of man-hours. Non-Compliance. Financial regulations such as SoX, Dodd-Frank, and others affect spreadsheet systems. Databases to meet deadlines. Inflexible for Business. Competition requires agility, and adapting to change requires more than spreadsheets. Most spreadsheets are highly personalized and thus dependent on one person. What happens when they move on? Not Collaborative. Do you forecast, plan, or budget? All are collaborative and require different pieces of information from different sources. Multiple locations require even greater collaboration. Exchanging information by spreadsheet results in duplicated data and errors. Difficult to Consolidate. Analysis and reports are cumbersome, time-consuming, and prone to error because spreadsheets get used by different users in different ways. Consolidation requires reconfiguration �C multiple times as information moves up the decision path. Slow Decision Making. Financial investments and auction acquisitions require fast decision making. Culling information from disparate spreadsheets, reconfiguring data sets, checking for errors, and translating for different groups slows decision making and gives the advantage to faster competitors. Financial models require system complexity and adaptability. No Data Recovery. When devices and networks fail �C and they do �C spreadsheets are often in the hands of non-IT personnel and have no data recovery when disaster strikes. Not Scalable. As investments grow and the business expands, spreadsheets are like molasses that spread and slow the organization, compounding the issues above.
• #11: From 2D tables to 3D databases to 4D systems
• #12: All in One SYstem Let visuals speak for themselves �C represent wishes.
• #14: 30,000 foot view of Tax Lien Servicing process. Plan an ideal process. Inefficiencies, redundancies, retraining, legal compliance, paperwork. Deming Plan/Check/Act. Feedback loop and improvements.
• #16: PAR �C Barrage of email attachments,Google Apps let them collaborate in real time on shared docs, Result of less email, less errors, better audit Share in Real Time, Increase Security, Reduce Errors, Save Time and Money
• #17: 5-Step Office Improvement Unify focus of key stakeholders Identify easily corrected ops challenges Know your vital data owners and locations Integrate systems and limit redundant data Leverage solutions: collaboration, doc mgmt, workflow, etc.
• #20: 3 Servicing Choices Serviders �C beholden to their investment philosophy, with classic fee structure punitive to growth Build - $250,000 and 3 years earlier�� Buy �C Take advantage of 20 years experience in 5 years of development. Scalable from institutions to individuals
• #21: Their fee structure, their investment philosophy, their servicing systems
• #22: Dire decision to do it all. Maybe lucky on scope and on budget. But then: IT costs, obsolescence, lose compatibility with other systems
• #23: Home screen with powerful dashboard Instant overview of portfolio return, value, and status by fund
• #26: Review of sale lists and assumption of redeeming full portfolios @ 1 Year, 2 Years, or Partial every 6 months for 2 Years Frank Natale, panelist and speaker
• #27: Walk through the BIG differences between IRR and xIRR The reality is Tax Lien Investments have IRREGULAR time periods of cash flow. If you��re not accounting for more than simple annualized IRR, you��re imprecise and less than credible.
• #28: A Year Before Today and Today Instant Return analysis