Automation CoE for a French Real Estate Conglomerate
The client is a leading french real estate conglomerate that was looking forward to developing a center of excellence for automation to streamline its operations and improve efficiency.
The client is a leading french real estate conglomerate that was looking forward to developing a center of excellence for automation to streamline its operations and improve efficiency. The client wanted to automate their business processes to improve their operations and stay ahead in the highly competitive real estate market.
Use Cases: Key Challenges & Solutions
1. Expense Participation Setup
Trantor offered a comprehensive solution for the client to efficiently manage operating expenses and bill tenants on a pro-rata share. We developed a platform that automates expense participation, Common Area Maintenance, Expense pass-through, Escalations, and Building operating costs. This includes calculating expenses such as utilities, taxes, insurance, maintenance, cleaning, advertising, and promotions. The client can efficiently allocate expenses and generate invoices with just a few clicks, reducing manual labor and ensuring accuracy. Additionally, our platform offers real-time reporting and analysis, allowing owners to track expenses and make informed decisions. The client can now streamline the billing process and ensure equitable distribution of operating expenses to tenants.
2. Lease Abstraction
Trantor helped in the extraction process by using its advanced data extraction tools and algorithms to quickly and accurately gather the critical data points from a lease agreement. The technology could compare and analyze the details of many leases, distilling the most vital information into a concise and easy-to-review abstract. This abstract provided a comprehensive overview of the lease’s most critical legal, financial, and business details, making it easier for the team to review and update their records. With Trantor’s help, the client was able to streamline their lease abstracting process, saving time and resources while ensuring the accuracy and completeness of their data.
3. Specialty Abstraction
With our automation CoE we helped extract the key data points of various commercial lease agreements and compared the details to distill the most pertinent and frequently used information. This resulted in creating a lease abstract that could be reviewed and updated, encompassing the most important legal, financial, and business details. Trantor also helped extract changes in lease data critical to managing a real estate portfolio and compiled that data into a report. This report was then uploaded into a database, enabling the organization to make better-informed real estate decisions based on accurate and up-to-date information
Process Roadmap: Digital Transformation and Cost Optimization
In this phase, the focus was on evaluating the client’s current state and understanding their requirements. The process assessment helped to understand the existing processes and identify areas for improvement. The feasibility study reports provided insight into the scope and complexity of the project.
In this phase, we focused on developing a roadmap for the automation project. The diagnostic study of existing business processes helped identify that 50% of the functions could be automated with minimal effort. The reference architecture provided a transparent and scalable solution design that could accommodate future growth.
The business case development helped to define the project goals, costs, and benefits. The technology-agnostic views ensured that the solution was aligned with the client’s business requirements. The high-level As-Is & To-Be maps clearly understood the desired outcome. Cost and effort breakdowns provided a clear understanding of the project budget.
The implementation of the solution was the main emphasis of this stage. The process definition document (PDD) and solution design document (SDD) clearly understood the solution design. To guarantee the quality of the solution, release notes and configuration & verification test plans were helpful. The deployment and As-Built documents provided a comprehensive knowledge of the finished solution.
The establishment of the Center of Excellence ensured that the client had a dedicated team managing the automation initiatives. The infrastructure, security, and governance provided a secure and stable environment for the solution. The 24×7 Service Desk support guaranteed that the answer was always available. User training helped to ensure that the solution was utilized effectively. The objective was to facilitate a smooth implementation and meet the client’s goals.
- Enhanced Customer Service
- Boosted Scalability Opportunities
- Increased Efficiency
- Reduced Cost
- Cannibalized Existing Headcount
Standardizing processes and investment in automation technology have improved efficiency and reduced costs. Employees’ enhanced skills and experience in automation technology have created a competitive advantage for the client in the real estate industry.