Audit reviews are overdue but the database crashed again, twice in the same day. Some asset managers leave the company because they’re frustrated with not having the right technology to perform their jobs. The asset management team is fighting fires on all fronts – low morale and turnover, missed deadlines, and lost productivity. Things needed to change immediately.
This was late 2005 and Boston Capital was managing a portfolio of over 2,500 LIHTC properties. Their database was a liability instead of an asset. A search for a replacement database was conducted but unsuccessful as no existing software could satisfy Boston Capital’s rigorous and specialized demands. Necessity being the mother of invention, Boston Capital embarked on building its own asset management software – known today as Fusion ™.
In 2009, after several successful years of using Fusion to manage one of the LIHTC industry’s largest portfolios, Lexington Solutions was incorporated as a wholly-owned subsidiary of Boston Capital to continue developing Fusion and to make it available to the entire LIHTC industry. Lexington Solutions continues to invest heavily in the development and evolution of Fusion to maintain its position as the most innovative and intuitive asset management software for the LIHTC industry.
Fusion was designed by asset managers, for asset managers ™