“Best of Breed” Systems Approach Helps Customer Manage Entire Real Estate Life Cycle

In business for over 150 years, this financial services company became a CoStar Real Estate customer in 2008.

Problem

In addition to their typical headquarters and regional offices, this company is challenged with managing different sizes and uses of properties ranging from very spacious centers housing large population of workers to smaller retail locations and specialty offices established to enable the company to enter new geographic markets. To help achieve business growth and efficiency objectives, the company asked CoStar Real Estate Manager in 2012 to take another look at how they were using the corporate edition to manage their 400 locations, 75% which are international sites. Many opportunities for system and process improvements were identified and represent some exiting uses of the CoStar Real Estate Manager system.

Solution

Due to the ease of integrating CoStar Real Estate Manager with other business systems, this customer is able to utilize their best choices of software products for each area of real estate to be managed. The company also decided to integrate CoStar Real Estate Manager with their Oracle accounting system, with PeopleSoft being used by this customer for Human Resources management.  This “best of breed” approach has enable the company to accomplish their goals quickly with systems already purchased and in use.  Headcount information is imported to CoStar Real Estate Manager from PeopleSoft to ensure optimal utilization of space, allowing this company to stay ahead of space planning requirements by syncing headcount data with job fulfillment requests.

Results

As a result of CoStar Real Estate Manager’s 2012 assessment, the customer was able to further bolster their ability to aggregate and assess how their real estate assets are contributing to the company’s overall success by implementing the strategy and analytics module. This customer can now look at how all space is being use and, in turn, how the space is working to contribute to growth and efficiency goals.  With the sophistication level of CoStar Real Estate Manager’s portfolio and project modules, the company met its goal of being able to roll up data at the portfolio and property level to view information related to each specific asset including ownership, tenants and leases.  Lastly, the systems integrations have streamlined many work processes that save time, increase accuracy of data and produce comprehensive reports for better decision making.

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