Better Analytics, Better Data

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with Rivet

Success Story

Manage Complex Data from Multiple SourcesNational Health Investors, Inc. strives to quickly and accurately compare company-wide data

the challenge

Simplified Analytics >>

128 Properties.25 States.

“We needed a way to compare data from our various properties side-by-side and to create custom reports as well as our standard, everyday reports.”

Kevin PascoeVice President

The NHI Portfolio

National Health Investors, Inc. (NHI) is a real estate investment trust based in Murfreesboro, TN that specializes in health care real estate financing. NHI’s Financial Analyst, Cameron Bell and his manager Vice President of Investments, Kevin Pascoe knew there was more to XBRL than the SEC mandate. The NHI financial reporting team manages data from 128 different investment properties throughout the U.S. Pascoe’s team needed a better way to aggregate and analyze their financial data. Their process was tedious, manual, and wasted valuable time. A NHI analyst was responsible for manually inputting data into multiple Excel spread sheets from the various properties, which also increased the chance for errors. From there, Pascoe tasked Bell with compiling all Excel spreadsheets into NHI’s standard reports with his eye on the XBRL prize – better data and better financial analytics.

NHI easily manages data from multiple sources.

the solution

Better Analytics + More Accurate Data >>

Rivet’s Crossfire SimplifiesComplex Analytics

Cameron BellFinancial Analyst

We don’t have to dig for data anymore. It’s now available with just a few clicks, which makes my job as an analyst easier.

The format of the tenant provided data varied from property to property, but each data set needed to be comparable. Once the data was compiled, Pascoe had the foundation to get more out of XBRL than the tedium of SEC mandated filings. He knew Crossfire had the capability to efficiently aggre-gate NHI’s data for easy peer comparison. Pascoe began the process by tagging the lease requirement data with an XBRL enterprise taxonomy, separate from NHI’s SEC XBRL filing. The XBRL data then resided in an Excel spreadsheet, and with Crossfire, the data was saved into a propri-etary database, where NHI’s data was easily extracted for quick analysis.

“With Crossfire, my financial analyst consolidated enormous amounts of data, which enabled him to do his job more efficiently with better results,” states Pascoe.

The NHI team didn’t have to worry about how or where their data was stored, which increased their internal data storage capabilities. Most impor-tantly, Bell used Crossfire to quickly create NHI’s standard reports and also designed specific reports that measured various industry-specific KPIs. Because the data was tagged with XBRL, Bell hit refresh and pulled informa-tion directly from NHI’s source documents for quick, accurate peer compari-son. They were starting to see more time in their schedules, but how exactly would they take advantage of the new and improved data?

Better Analytics and More Accurate DataNHI, Inc. empowers XBRL data beyond the SEC mandate.

info@rivetsoftware.com | www.rivetsoftware.com | 800-854-8821

the results

Improved Data AccuracyNumbers come directly from thesource.

Reports that once took hours tocreate, now take minutes.

Days Saved

More Time to AnalyzeInvestmentsImproved processes and reportslead to more time to spend on analyzing potential investments.

With Crossfire, the NHI team successfully took XBRL beyond the SEC XBRL mandate. They’re now able to pull their financial data directly from their source documents into both their standard reports as well as various ad-hoc reports. They’re able to eliminate the digital piles of Excel spreadsheets and speed up their peer comparison and benchmarking capabilities. They easily create reports as needed and greatly increase the accuracy of the reports. Reports that once took hours to create now take minutes, freeing up time to better compare the data leading to improved business decisions for all 140 investment properties. No number goes untracked or unaccounted for.

“Nothing falls between the cracks with Crossfire. We’re now able to make quicker business decisions because we have better data and we’re able to analyze it faster,” says Bell.

Crossfire greatly improved Bell’s life as a financial analyst. When his CEO asks for a report he provides them quicker, easier, and his numbers are more accurate. By setting up report templates in Crossfire and rolling the SEC filing data forward each quarter, Bell saves time in his benchmarking process every time. Bell explains,“If Crossfire wasn’t in the picture we wouldn’t have the ease of access with the same depth of data to our existing portfolio.This allows us to focus on more value-added activities like evaluating new investments or buildingcustomer relationships.”

Rivet’s Crossfire enabled NHI to strategically turn the SEC XBRL mandate into better peer comparison and better financial data throughout their entire organization.