Ivanhoé Cambridge Unifies Merged Companies’ Operations, Quickly Integrates New Properties, and Improves Efficiency with Integrated Applications
 
 

Ivanhoé Cambridge Unifies Merged Companies’ Operations, Quickly Integrates New Properties, and Improves Efficiency with Integrated Applications

Ivanhoé Cambridge Inc. is a world-class real estate company that leverages its high-level expertise in all aspects of real estate, including investment, development, asset management, and building operations to deliver an optimal return for its investors. Through its multiple subsidiaries, it holds assets in more than 20 countries valued at over US$34 billion as of December 31, 2012. Ivanhoé Cambridge is a real estate subsidiary of the Caisse de dépôt et placement du Québec, one of Canada's leading institutional fund managers. The company has grown organically and through acquisition throughout its lifespan, expanding its geographic reach and scope of operations.

 
 

 
 

Challenges

A word from Ivanhoé Cambridge Inc.

  • "Oracle’s JD Edwards EnterpriseOne applications were a factor in our ability to grow from US$388 million (CA$400 million) in 1992 to approximately US$34 billion (CA$35 billion) in assets and from 200 properties to 800 properties. We could not have scaled without JD Edward EnterpriseOne.” – René Demchuck, Senior Vice President, Information Technology, Ivanhoé Cambridge Inc.

  • Bring two organizations’ legacy JD Edwards EnterpriseOne applications onto a single, integrated, common architectural and logical framework within 18 months
  • Align processes and improve visibility and operational efficiency across the diverse real estate management business
  • Ensure continued support for the company’s enterprise applications, which were no longer supported
  • Accelerate the monthly financial close across the organization, which includes multiple subsidiaries and more than 800 companies
  • Improve productivity and operational efficiency to support a rapidly growing international real estate management company without a commensurate increase in staff

Solutions

  • Standardized on a single instance of Oracle’s JD Edwards EnterpriseOne and upgraded to version 9.0 to create a common framework that allows the group to more effectively manage and analyze business data from its combined organizations
  • Merged two organizations on a common physical and logical platform for all data and applications within 18 months
  • Improved operational efficiency and enabled the company to consolidate year-end financials from numerous organizations in fewer than five days
  • Created a standardized financial management platform that enables the company to consolidate its year-end, enterprisewide, financial numbers in just five days
  • Standardized the company’s charts of accounts for the group’s shopping-center and office-building businesses, gaining greater financial and operational insight
  • Automated 70% of the sales coverage process, compared to only 40% with the legacy platforms
  • Accelerated integrating new properties into the system, speeding time to value
  • Gained multicurrency and multilingual capabilities to support international operations
  • Automate year-end invoicing, known as the 13th invoice, which settles discrepancies between set monthly payments and actual costs for variable common area expenses, such as energy and electricity

Why Oracle

Ivanhoé Cambridge merged operations with another company and wanted to create a single application platform across its enterprise. Both organizations had been running Oracle’s JD Edwards EnterpriseOne applications and were pleased with their robust functionality, including industry-specific capabilities for the real-estate and property-management sectors. “We already had a large Oracle footprint, and it had served us very well,” said René Demchuck, senior vice president, information technologies, Ivanhoé Cambridge. “When it came time to merge our operations, we reaffirmed the solution’s value to our rapidly growing organization.”

Implementation Process

Ivanhoé Cambridge deployed its new JD Edwards EnterpriseOne environment in 18 months. It rolled out the solution in North America, as well as Scotland, France, and Spain. One of the company’s subsidiaries in Brazil is also using a JD Edwards solution.

Partner

Ivanhoé Cambridge worked with Oracle partner IBM Global Business Services to deploy a single instance of JD Edwards EnterpriseOne across its merged organization and plan and manage the upgrade to version 9.0.

IBM provided end-to-end implementation assistance including planning, business process mapping, configuration, project management support, as well as developed customizations through an offshore partner, including the ongoing, after-project support.

Working with IBM, the company completed the upgrade on time and on budget.