ABOUT THE CHALLENGES AND NEEDS
The management of large-scale commercial real estate complexes includes several important financial and administrative tasks, which involve significant amounts of data and a large workflow.
At the same time, the focus of the company is on the management of relations with tenants, tracking contracts’ conditions, and fulfilment of lease agreements terms.
ABOUT THE SOLUTION
The project for the implementation of the FTS Property Solution had launched in January 2004, and after 4 months, IKEA has started using the system in their first shopping center.
With FTS Property Solution, all data on commercial and office centers currently managed by IKEA are combined into a single database. When new properties, tenants or contracts appear, adding them to the system is quick and easy, starting rent calculation and invoicing automatically. The FTS Property Solution has been integrated with the Client-Bank system for uploading cash receipts and the accounting system for generating tax reports.
ABOUT THE IMPLEMENTATION PROCESS
In 2003, the management of IKEA Real Estate decided to implement an information system to increase the efficiency of its activities and automate the processes of real estate management.
Based on the results of the tender, where the IKEA management reviewed the proposals of 18 system suppliers, in December 2003, the choice has been made in favor of the FTS Property Solution.
- Optimization of the daily activities of tenant managers, property managers, and financial controllers.
- Deep analysis and detailed presentation of overall business performance.
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