“SumIt streamlines inter-entity transactions, reconciles accounts across multiple entities, and accommodates both asset complexity and simplicity in asset management reporting.”

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Customer overview

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Point North Capital (PNC) is a diversified family office investment firm generating income through equity investments, alternative strategies, and consulting services in the commercial real estate mortgage sector. 

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Led by mortgage industry veteran Steve Powel, PNC brings together a team of experts in legal, restructuring, investment, and accounting to support clients facing complex real estate and corporate challenges. The firm is especially active in the Southeast U.S. multifamily housing market through Debt, LP, and GP investments.

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The challenge

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PNC outgrew the capabilities of QuickBooks Desktop. The platform could no longer support its expanding asset base or generate consolidated balance sheets and net worth statements across its numerous entities.

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Relying on manual reporting and fragmented data integration hindered PNC’s operational efficiency and limited visibility across the portfolio.

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PNC’s must-have requirements included:

• Multi-entity consolidation – Built-in net worth and balance sheet reporting
• Real-time data aggregation – Automated feeds from banks, credit cards, and investment accounts
• Intercompany eliminations – Seamless elimination of nested LLC transactions
• Entity structure visualization – Clear ownership mapping across entities

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Solution

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After evaluating solutions including QuickBooks Enterprise and Sage Intacct, PNC selected SumIt Software for its strong multi-entity consolidation features, real-time data capabilities, and cost-effective implementation.

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“SumIt struck the perfect balance of features and value,” said Sophia Franco, CFO at Point North Capital. “We appreciated their willingness to deeply understand our entity structure and configure the system accordingly.”

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As a newer platform, SumIt also offered PNC the opportunity to influence product development, ensuring alignment with their long-term needs.

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Looking ahead

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With a more scalable and responsive software infrastructure, PNC is well-positioned to raise new capital and expand its portfolio. Robust partnership accounting will remain central to maintaining investor confidence and operational efficiency.

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“Collaborating with SumIt ensures it evolves into the perfect tool for our family office.” — Sophia Franco, CFO at Point North Capital

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“For those looking for something more than QuickBooks but not wanting to spend a fortune, SumIt is a great alternative. It streamlines inter‑entity transactions and reconciles accounts across multiple entities with minimal complexity.” — Sophia Franco, CFO

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