Best of Breed Systems Help Customer Manage Real Estate Lifecycle

This 150-year-old financial services company became a CoStar Real Estate customer in 2008 but they had a problem ...

In addition to their typical headquarters and regional offices, this real estate team was challenged with managing different sizes and uses of properties ranging from very spacious centers housing a 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 look at how they used the corporate edition to manage their 400 locations, 75% international sites. Many system and process improvement opportunities were identified, representing some existing CoStar Real Estate Manager system uses.

And then they had a solution.

Due to the ease of integrating CoStar Real Estate Manager with other business systems, this customer could utilize the best 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 used by this customer for Human Resources management.  This “best of breed” approach has enabled the company to accomplish its goals quickly with systems already purchased and in use.  Headcount information is imported to CoStar Real Estate Manager from PeopleSoft to ensure optimal space utilization. This allows this company to stay ahead of space planning requirements by syncing headcount data with job fulfillment requests.

As a result of CoStar Real Estate Manager’s 2012 assessment, the customer was able to bolster further 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 used and, in turn, how the area 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 rolling 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 data accuracy, and produce comprehensive reports for better decision-making.