East Lake Capital Management is a private equity firm that focuses on healthcare real estate designed for senior housing and long-term care. ELC is a relatively new business that is growing via an acquisition strategy. Consequently, ELC has no legacy IT issues to deal with. ELC creates value by acquiring new assets and improving them with new people, new processes and improved oversights.
The eldercare sector offers great growth prospects due to an aging population and relatively limited new construction. The large and highly fragmented industry offers a tremendous opportunity for large-scale consolidation.
To date, most players in the eldercare industry have not made significant IT investments in their facilities or processes. Now, seniors, as well as their families are requiring a much higher level of interaction with housing and care providers, and it’s this reality that makes ELC’s business model compelling.
The eldercare sector presents multiple challenges, including property management and healthcare services, such as senior housing, skilled nursing, urgent care, rehabilitation, and dialysis facilities. These difficulties, as well as others, make scaling portfolios within the eldercare sector of the commercial real estate industry extremely difficult. Consequently, this sector is heavily fragmented.
ELC’s Low-Code Approach to Business Growth
ELC’s strategy is to bring real value to potential customers by using technology to deliver a rich experience for residents and their families. Given ELC’s growth-via-acquisition approach, one big challenge is amalgamating disparate businesses and normalizing processes. To this end, ELC needed a rapid-software-development strategy that would allow them to compose processes, rather than just write code, an approach that would be expensive, altogether too time consuming, and which would start them down the road to an inevitable mountain of legacy, spaghetti code—technical debt.
ELC’s Low-Code Requirements
As a technological solution, ELC knew it needed an enterprise-class, low-code BPM that would have tight integration with all of its Microsoft products, including Office 365, Yammer, OneDrive, etc., but which would also allow them to integrate non-Microsoft systems, such as Salesforce, into their workflows. Specifically, ELC needed coverage across its CRM, HR/customer on-boarding, vendor on-boarding, and employee on-boarding. Furthermore, everything had to be delivered as a cloud service that provided end-to-end connectivity with “ease.”
Why ELC Chose AgilePoint NX
AgilePoint NX, a regular occupant of Gartner’s iBPMS Magic Quadrant, has extensive BPM credentials. But AgilePoint NX, according to Forrester Research, is among the elite for low-code, process-focused platforms. Furthermore, AgilePoint NX is a low-code application Platform as a Service (aPaas), meaning apps can be built, monitored, measured, refined, and deployed entirely in the cloud. Furthermore, AgilePoint NX has a full range of enterprise-class governance features, such as single-codebase multi-tenancy (a critical architectural characteristic for security and scalability) and the ability to extend rights management to the sub-tenant layer.
Beyond these critical BPM capabilities, ELC chose AgilePoint NX for a number of other reasons, including the following:
• The ease with which it can be deployed and with which process can be composed.
• Extremely flexible licensing, which allowed ELC a blended model that consisted of both named users and concurrent licenses.
• An open architecture, which allowed integration across both on-premises-based systems and cloud-native services.
• An ability to create traditional low-code apps as well as apps that are responsive to devices, browsers, platforms, environments, and changing business conditions, a byproduct of the platform’s true model-driven architecture.
• It’s ability to consume other services as components in applications as well as be consumed as a service by other applications.
ELC business model was based on its ability to innovate quickly, and that’s exactly what they were able to achieve with a state-of-the art low-code platform. One example of a mission-critical application that ELC needed to build and deploy was an employee on-boarding system that had the flexibility to handle everyone from doctors and technicians to cafeteria and grounds-maintenance workers. AgilePoint NX enabled them to build and deploy this system in a matter of weeks. Because of AgilePoint’s unique architecture, this, as well as ELC’s other systems, are stable, scaleable, and can easily be modified as business conditions evolve.