The Challenge

The real estate department at a national retailer shrank by natural attrition. When employees left the organization they were not replaced and their workload was shared amongst the remaining staff. In addition, the company had gone public, adding additional reporting responsibilities for the department.

They had a custom internal database to alert them of upcoming critical dates in their portfolio and track a very small amount of general lease information. The database was managed by the IT department who had many high priority initiatives in its queue, therefore cutting into the time available for updates and maintenance. The real estate department has dealt with the lack of support by developing workarounds, creating major inefficiencies.

Inefficient use of time and a lack of resources forced other strategic real estate initiatives to the back burner. Unsatisfied with their progress, the VP of Real Estate concluded that they either need to hire another employee or work more efficiently.

The Visual Lease Solution

They determined that working more efficiently was the best long term solution. Visual Lease was selected because it enabled them to focus on strategic activities that drive value for their organization by reducing administrative tasks. They now have central control for their entire lease management process, including critical dates. By encompassing their entire lease managnemt process, disjointed processes and workarounds were eliminated.

Visual Lease’s ASP deployment method has replaced the need for internal IT support and maintenance. Visual Lease hosts the data, allowing the real estate department to access the system over any internet connection. Customer support and upgrades are also provided.

Due to the increased efficiency in lease management, the company was enabled to focus on other strategic real estate projects.