Atrium European Real Estate is a leading owner, operator, and developer of shopping centers in Central and Eastern Europe. The company’s US$3.15 billion portfolio includes properties in Poland, the Czech Republic, Slovakia, Russia, Hungary, Romania, and Latvia that are managed by a multinational team of retail real estate professionals.
Atrium European Real Estate evaluated stand-alone, hybrid solutions from Yardi Systems, MRI Software, and Manhattan Software. The company rejected them in favor of JD Edwards’ holistic solution suite that would enable it consolidate real estate and financial management and handle the statutory reporting needs of all seven countries on a scalable platform. The JD Edwards solutions also had more comprehensive functionality with support for statutory reporting in Russia. Unlike competitors who provided support only through local resellers, JD Edwards offered experienced implementation partners with expertise in the property industry in every country.
"JD Edwards is the only solution on the market that gives us best-of-breed real estate functionality and world-class business management software on a single integrated platform," said Ilan Zachar, chief information officer, Atrium European Real Estate.
Oracle Partner and real-estate-industry consulting firm RealFoundations designed the global framework for Atrium’s JD Edwards EnterpriseOne Real Estate Management platform and defined the design for a single instance across all seven countries. RealFoundations helped Atrium structure the 18-month deployment to minimize risk and disruption, while working with the company to define strategies and develop the most effective business processes. RealFoundations is now supporting Atrium as it implements JD Edwards Financials in all countries.
RealFoundations leveraged the power of JD Edwards and its managed services capabilities to accelerate translating, abstracting, and entering critical contract terms from more than 3,500 local country lease contracts into JD Edwards. This process, combined, with the strong language capabilities of JD Edwards’ functionality, enables Atrium’s country-level personnel to measure portfolio performance in their local languages while providing complete visibility in another common business language.
“RealFoundations has a long and successful history of working with our significant shareholder, Gazit-Globe Ltd.," said Ilan Zachar, chief information officer, Atrium European Real Estate. "The deep industry knowledge of its consultants and global presence helps us leverage the JD Edwards suite for maximum yield, lowest risk, and the fastest return on investment."