Overview

Today’s tough economy demands a tight bill-to-pay cycle and streamlined end-to-end business processes to improve cash flows, increase productivity, lower costs and enhance customer service. Real Estate Management companies are increasingly finding opportunities to realize these benefits by automating their Tenant Sales Reporting process. 

Traditional Approach

Lease arrangements with tenants often base some portion of rental payments on a tenant’s sales levels.  Tenants that have this arrangement must report sales levels so that rent can be accurately calculated.  This process is often slow, error prone and unsecure, resulting in delayed revenue recognition for the property owner.   Once the data is received in good order, Real Estate Management company personnel must manipulate, scrub and reformat the data before it can be uploaded to JD Edwards.   For companies with many tenants and lease arrangements, this process can require dedicated staff for this function. 

Comprehensive, Automated Solution

The weakness in the traditional approach is in the handoff of data from the tenant to the owner.  It operates outside of the secure and automated ERP system.  By automating and integrating the introduction of sales data with the automated ERP back-end, this weakness is eliminated resulting in a secure, automated sales reporting solution that promotes timely introduction of sales data into the lease billing process and accelerated revenue recognition. 

In this automated approach, tenants report their sales through a secure web portal that is directly integrated with JD Edwards.  Based on configured workflow rules, this data can be automatically introduced to JD Edwards or can be routed internally for additional action and approval prior to updating JD Edwards.  A complete audit trail history is automatically maintained and accessible.   

The web portal enables tenants to view their submitted sales data, and authorized Real Estate Management personnel can access sales data from all tenants.  With this approach, there is one version of the truth, as compared to several versions of tenant sales reports that reside on managers’ computers.