The Onboarding experience was great. The interaction with the Rabbet Team during setup provides for thorough training so you aren't left scrambling in the wild. Review collected by and hosted on G2.com.
I did not experience a downside to Rabbet Review collected by and hosted on G2.com.
Rabbet was very easy to onboard and go-live. While we only had five concurrent projects to load, it took very little time and not too much attention to get to a useful stage. The admin set-up of the projects and users was not painful either.
While only one of our projects has gone to construction so far, we do have four others in predevelopment and another going live in predevelopment very soon. We're very excited to use the system from start to finish.
The use of Rabbet for daily needs is also pretty easy. We have to do double entry for our bills, once in our corporate accounting system NetSuite, and another time into Rabbet, where Rabbet is the easier of the two.
Most of our funding comes through the SF Mayor's Office of Housing, and they insist on using their own draw tracking sheet instead of Rabbets, so that's kind of a bummer, when using Rabbets would be so much better, and easier!
And if my primary user, the Development Accountant ever needs more guidance than I can provide, Support is just a chat away; easy to reach and helpful with their answers. Review collected by and hosted on G2.com.
Unfortunately it doesn't integrate with NetSuite by API or anything other than an upload/download file. That makes it a lillte clunky for us, and Rabbet doesn't have the same identifying fields we use in NetSuite, and not capable of adding them, so it the upload file isn't very useful to us, causing a need for double entry of bills and pay apps, once into NetSuite and another time into Rabbet. Review collected by and hosted on G2.com.
Rabbet has helped connect our finance team with our development operations. It has allowed our project managers their own autonomy managing individual contracts or budget line items, while providing and connecting those details up to the bigger picture sources & uses. It has helped automate our monthly draw processes and greatly enhanced our ability to predict the timing of spend. Customer support is always very responsive and helpfull! Review collected by and hosted on G2.com.
Rabbet does fall short on the project management/field reports side of things. It is certainly a tool that is geared more towards finance teams, as our project team has had to supplement it with other software for some project management tasks. Review collected by and hosted on G2.com.
There are a lot of project management tools out there that are somewhat relevant to real estate development and may have some useful features (e.g. accounting software, construction management software, etc.), but they are not specifically designed to be used by a developer, so if you chose one of them to manage your projects, you'd be forcing a square peg into a round hole. When I found Rabbet early last year, we were still using Excel for budgets and draws, Teams and email for communication, Smartsheet for task management, a document storage system lacking organization, and no efficient means of reporting. Rabbet allows you to combine essentially all of these into a single platform where you can see high level views of the entire portfolio or drill down to the smallest detail efficently and intuitively. Although we use it every day, we have only begun to scratch the surface of the functionality. Rabbet has already proven its worth and saved us a ton of time (and several headaches) by standardizing our budget/draw processes, formalizing work flow and communications, and providing transparency to our executive team and other members of our company who rely on up-to-date project statuses and information. Review collected by and hosted on G2.com.
Rabbet is still expanding its services so there are occasional quirks or bugs to work out. Fortunately, the customer support team at Rabbet is phenomenal, especially relevant to other software support teams we have worked with before. Most problems that we encounter are resolved quickly, and if it takes a bit longer, a member of the support team provides updates as they work through the issue. Review collected by and hosted on G2.com.
I have been thoroughly impressed with Rabbet's platform for managing construction loans. Their software is intuitive, efficient, and perfectly tailored to the unique complexities of construction lending. The implementation process was well-supported, and the integration with our existing systems was seamless. The automation features have significantly streamlined our processes for every day use, saving us time and reducing errors. The customer support team has been incredibly responsive and knowledgeable, always ready to assist with any questions or custom needs we have. The transparency and real-time tracking features have been a game-changer, allowing us to stay on top of every project with ease. I highly recommend Rabbet to any lender looking for a reliable, easy-to-integrate solution to manage construction loans! Review collected by and hosted on G2.com.
This is not a downside; however, I do wish that Rabbet had the capability to process multiple contractor's requisitions within a single draw. Review collected by and hosted on G2.com.
We used a software similar to Rabbet in the past, but no where near as capable. Rabbet is incredible. We love it so far. Review collected by and hosted on G2.com.
The only downside is the vendor set up portion. Review collected by and hosted on G2.com.
Rabbet is ideal for ensuring smooth presentation of cash flows and project claims, I loved how it makes collecting updates from different departments and subcontractors continuous. It is great what it provides in clarifying all the details, it enables us to understand the differences between actual and planned completion, which enhances our ability to disburse dues and complete financing requirements transparently. Review collected by and hosted on G2.com.
Nothing is important, Rabbet provides an easy way to collect data that contributes to simplifying the next steps. Review collected by and hosted on G2.com.
I work with Rabbet daily and have found it to be exceptionally user-friendly and efficient for document management. The ability to quickly upload a package of documents, which Rabbet automatically separates and classifies, significantly streamlines my workflow and saves valuable time. This functionality aids in keeping my projects on budget and ensuring they are completed within the designated timeline. Additionally, I appreciate Rabbet's customer service, which consistently provides timely and helpful responses to any questions or issues I encounter. Review collected by and hosted on G2.com.
One drawback of Rabbet is that it can occasionally take some time for the software to recognize specific classifications of documents, such as project trackers or draw sign-off forms. Users may need to process a number of draws before the software accurately adapts to their classification patterns, but it does learn which is great! Additionally, there are instances where users may have to reclassify certain documents that Rabbet has already parsed in order to have the needed information pulled to project line items. For example, when tracking expenses, a receipt may need to be relabeled as an invoice and then the receipt details need to be mannually entered to connect it to the appropriate line item. It would be great if Rabbet could recognize receipts and then parse them like it does very well for regular invoices. Review collected by and hosted on G2.com.
Industry-specific software is oftentimes a compromise, that's not the case with Rabbet. They provide a modern SaaS experience for Lenders and Financial Service Providers that rivals leading software vendors. We adore the elegant user interface that makes it a snap for our team to enter construction budgets, fill out project information, review documents, and execute draws. Powerful and customizable features are available everywhere. Saveable table views conveniently filter and sort budgets according to our needs. Automatic, rule-based alerting bolsters risk management. AI document scraping saves us 1-2 hours of time per draw. Administrative settings offer granular security controls. We also utilize Rabbet's API for intergration with other software, effectively making it a live company database. Customer support is beyond what you might expect. Their live team is exceptionally responsive and helpful. They also publish detailed self-help articles and how-to's that are easy to read and implement. We never worry about getting the support we need! Rabbet has revolutionized our business and elevated the quality and consitency we deliver to our clients. Review collected by and hosted on G2.com.
A few minor features could be improved. We would like to see the draw inspection process refined a little more including table customization, automation, and better availabilty of data through the API. Critical fields like project completion dates and project percent-complete are overlooked natively and instead must be tracked using custom fields. We would also like to see more powerful project management features like enhanced group chats and notes that be tracked accross draws. Review collected by and hosted on G2.com.
The ease of use and integration are what I like most about Rabbet. Being the asset manager for multiple projects this makes it easy to review budgets and draws in one central location and easily track funding dollars and project completion. I use Rabbet on a daily basis and it's where I go as a source of truth for other ad-hoc analyses. Review collected by and hosted on G2.com.
Clear way to see how % remaining and other columns are calculated. Review collected by and hosted on G2.com.
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