• Pennsylvania Real Estate Investment Trust (PREIT) is leveraging Oracle's JD Edwards EnterpriseOne to support the management of its portfolio of 55 retail properties including 38 shopping malls, 13 strip and power centers and four new properties under development, Oracle announced today.
• With JD Edwards EnterpriseOne Advanced Real Estate Forecasting, PREIT has been able to enhance productivity by eliminating the various spreadsheets and other systems it previously relied on to complete budgeting and forecasting processes.

Simplified Budgeting and Forecasting

• In the spring of 2007, PREIT was one of the first customers to test the enhancements within the latest version of JD Edwards EnterpriseOne Advanced Real Estate Forecasting. PREIT worked with Oracle to stage a testing environment utilizing its own data, which fueled the company's decision to upgrade.
• 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 EnterpriseOne 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.
• Since completing the upgrade, 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, in order to generate budgets and five-year forecasts. These reports provide PREIT insight into the net operating income of each property.

Supporting Quote

• "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," said Helane Stein, Head of Information Technology for PREIT. "We invested in JD 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."

Supporting Resources

Related Resources

About Oracle
Oracle (NASDAQ: ORCL) is the world's largest enterprise software company. For more information about Oracle, please visit our Web site at http://www.oracle.com.