How Cronos Finance Internalised Accounting with STREETS
From scattered property manager data to a single, validated, audit-ready platform — with full traceability from source to report.
Background
Cronos Finance uses STREETS to support internal accounting and portfolio data consolidation, bringing property manager inputs, validation controls and reporting workflows into a structured environment.
The process required a platform capable of consolidating data from multiple property managers, mapping different accounting structures to a common internal chart of accounts, and supporting traceable reporting outputs.
The Challenge
- Multiple data sources — each property manager used different identifiers and chart of accounts, making consolidation manual and error-prone.
- Manual processes — reconciliations and accounting checks required significant time and increased the risk of errors going undetected.
- Audit complexity — without automated traceability, preparing for external audits was resource-intensive and relied on reconstructing decision trails from emails and spreadsheets.
- Integration gap — accounting data had to be manually mapped and validated before it could flow into Cronos' internal accounting system, adding time and risk to every closing cycle.
The Solution
- Centralised platform with full historical and current fund data — all property managers feeding into a single validated source.
- Accounting plan mapping to transform each property manager's chart of accounts into Cronos' internal COA automatically.
- Rent roll standardisation across property managers — one consistent view of all lease data, regardless of source format.
- Dashboards and KPIs monitoring monthly performance at fund and asset level.
- Automatic controls validating property manager file uploads before they are approved and processed.
- Buffer-zone validation — accounting data only flows to Cronos' internal accounting system once the finance team reviews and signs off.
Data flow: Property managers submit rent rolls and accounting data through STREETS' structured import interface. Each submission is validated against Cronos' chart of accounts before any data reaches the internal accounting system. Validated entries are exported on approval — eliminating manual re-entry and the risk of transcription errors.
Results
Time savings
Significant reduction in time spent on monthly data consolidation and reconciliation.
Data reliability
Automated controls detect and flag errors before they enter the accounting workflow.
Audit readiness
Full traceability of every data action and approval — available at any time, not assembled under pressure before audits.
Reduced risk
Buffer-zone validation ensures no unvalidated data reaches the internal accounting system.
Cronos Finance has been a STREETS client since 2017.
The implementation supported the internalisation of Cronos' accounting function, replacing a manual consolidation process with a validated, auditable data layer. STREETS has been in continuous production use for the fund's reporting, validation and audit workflows since onboarding.
STREETS provides us with a centralised, reliable platform to manage and validate our real estate fund data. It saves us time, ensures data quality, and gives us full traceability for audits.
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