The Lease Management system Project Team needed a way to map data coming from each country to the new system. Project required a vendor experienced in managing leases in multiple languages and an understanding of local laws and regulations as represented in the lease contracts.

CHALLENGES

1. Disparate systems; each region managed leases via Excel or homegrown system

2. High risk with no in-house expertise, multiple languages, local laws and regulations

SOLUTION

After meeting with the project team and reviewing samples of incoming data from each region, NTrust’s Project Manager and Abstraction Director:

– Created a comprehensive Lease Term Data Dictionary to cover 1,170 lease terms from 30+ countries including 276 unique lease terms.

– Performed a Gap Analysis between the data dictionary and the base Lease Management system configuration.

– Configured a system to take into account different lease terms for different locations with local laws and regulations in mind.

– Formed a Client Project Team of International Lease Specialists to support all regions and countries with local representation; used iManage tool for real-time collaboration.

BENEFITS

Highly trained International Lease Specialists.

Comprehensive analysis of leases in 40 languages for a range of global tenants.

Peace of mind with local laws and regulations.

REMAAP USES CASES DEPLOYED:

Lease Abstraction

RESULTS

Delivered Lease Data Dictionary six weeks ahead of schedule: iManage tool significantly accelerated the development of the Lease Data Dictionary estimated to take 12 weeks.

Successfully implemented new Lease Management System: Leveraged highly qualified project management team with deep understanding of the issues in abstracting and analyzing leases in 40 languages for a range of global tenants.

Realistic project timelines were able to be compressed: Committed project sponsorship from Corporate Management contributed to a successful implementation.

With the help of NTrust, client was able to successfully implement a new Lease Management system ahead of schedule at a 40% cost savings compared to other consultants offering the same services.