Renovo Financial Insures Exponential Growth with Own
Renovo Financial is a private lender for exceptional real estate investors who rehab or build single-family or small multi-family properties. As the #2 fastest growing company in Chicago, Renovo provides loans for rehabs, flips, and new construction.*
Everything Renovo Financial does is processed through Salesforce. The rapid-growth specialty mortgage company has a portfolio of short-term loans, typically to single family real estate developers. Accounts must be accessible company-wide as each file gets passed through three to four departments, entirely on the Salesforce platform.
Renovo Financial’s Salesforce Org includes a highly-customized layout and intricate calculations. This allows their system to be intuitive, while cutting processing, reporting, and operations time. As Renovo Financial continued to add more logic, automate new business processes, and grow their business with Salesforce, a reliable backup and recovery solution became essential to their future.
Renovo Financial were unaware that they were in need of a proactive data protection solution until a mistake was made. In a rush to clean up duplicate fields, the wrong field was deleted. Luckily, another department happened to frequently export this exact data via a report. A major data loss situation was avoided. Even though most of the Salesforce data was recovered and restored via the Salesforce Data Loader, data loss liability loomed over the company’s operations. Renovo Financial was fortunate it did not experience a more complicated data loss scenario that would require them to rebuild relationships between data, such as contacts and opportunities related to deleted accounts.
A Salesforce data loss would be devastating to Renovo Financial’s operations and growth. Own provides daily, automated backups and ensures rapid recovery of deleted or corrupted data and relationships, whether it’s caused by human error, malicious intent, integrations with external systems, or bad code or triggers.
"Right now, we view Own as an insurance policy. We don’t anticipate using it, we don’t hope we use it, but it’s a form of insurance that gives us peace of mind."
- Josh Perrye, Capital Market Associate, Renovo Financial
Fortunately, Renovo Financial has never experienced a major data loss. Nevertheless, with Own, it has been able to identify and restore minor data loss and corruption that would usually go unnoticed. Own Smart Alerts tell Renovo Financial when data is changed, deleted, or corrupted based on its own rules or AI-based (artificial intelligence) case tracking. The company regularly uses the Own Compare tool to review data and metadata side-by-side. This allows Renovo Financial to quickly identify what data has been changed and then selectively recover that data.
*Fast 50. (17, June 22). Crain's Chicago Business. Retrieved from https://www.chicagobusiness.com/section/fast-50