|
PREIT must respond quickly to the different needs of its tenants and shoppers, accurately calculate rents and expenses associated with each location, and make precise forecasts and budget projections about future investments. JD Edwards Advanced Real Estate Forecasting calculates each tenant's rent and expense participation and provides PREIT with a projected financial forecast. Additionally, PREIT uses the system to model the financial structure of a property after the redevelopment is completed.
With the JD Edwards solution, PREIT has dramatically reduced the time it takes for the leasing, asset management, and accounting teams to produce detailed property budgets and forecasts. The teams develop and enter assumptions about leasing activity into the JD Edwards system (where property-specific data is maintained) to generate budgets and five-year forecasts. These reports provide PREIT insight into the net operating income of each property.
"Our budget processes are complex and utilize significant resources. Therefore, we needed a way to centralize our data, simplify the process, streamline activities, and help ensure complete accuracy," says Helane Stein, Head of Information Technology for PREIT. "We invested in JDE Edwards EnterpriseOne to create a unified system for budgeting and forecasting that leverages our existing property and tenant data and minimizes redundancy. It's proved to be the right decision for our company as it addresses each of our needs."
|
