- One system to manage the complete lifecycle of everything in your CRE portfolio
- Get the most profitable use from every facility and asset
- Ensure compliance with all regulatory and corporate governance requirements
- Built-in IASB/FASB compliance
Financial services branches and other commercial real estate (CRE) within the financial sector have survived despite the rise of online banking. However, managing CRE in a cost-effective manner is more important than ever—especially since branches have a higher cost per transaction when compared to online banking and ATM usage.
On average, spending on CRE and facilities accounts for more than 20% of an organization’s income statement. Running portfolios efficiently can mean the difference between reaching quarterly goals and having to close branches. The need for financial services to get the most value out of their CRE portfolios is why eCIFM has developed a financial software solution specifically for this industry.
How Financial Software Solutions Manage Real Estate Expenses
IBM TRIRIGA® is an Integrated Workplace Management System (IWMS) that helps manage everything in your CRE portfolio. eCIFM, a premier IBM business partner and Gold-Accredited IBM TRIRIGA deployer, has developed an industry-specific IBM TRIRIGA implementation to help financial services in the following areas:
Streamline existing processes and systems to improve real estate lease management
You’ll get a single view of every asset and CRE holding in your portfolio, eliminating any need to dig through dozens of spreadsheets every quarter. IBM TRIRIGA gives you access to a vast amount of valuable, accurate and well-organized data, right at your fingertips.
Manage lease agreements
The new FASB accounting standards mean leases will now be regarded as capital on the books. Because of this, lease management will be more complex than ever—which makes it more important to handle them with an abundance of care and consideration. IBM TRIRIGA has been designed and updated to keep you in compliance with all new FASB requirements. It’s also equipped to help you with every aspect of lease management, from move-in to move-out. That includes tracking details like lease security deposits, which frequently run to tens of thousands of dollars—not something you want to forget when moving out.
Global organizations run more smoothly with IBM TRIRIGA, which helps manage leases spread out across multiple countries and regions, each with their own tax and regulatory requirements. If your CRE portfolio includes holdings worldwide, you’ll appreciate the peace of mind IBM TRIRIGA gives you, knowing all your leases are being managed accurately and efficiently.
Identify future business demands on existing facilities
Forecasting and planning tools let you know in advance when your organization will outgrow a facility. You’ll be able to shop around for the best deals on new spaces instead of having to negotiate under pressure.
Identify underused spaces and facilities
Space management helps you optimize how you use your facilities. CAD drawings let you make plans based on actual square footage instead of relying on information that may be inaccurate or outdated. You’ll be able to set aside the right amount of unused space for flexible growth and for adding new personnel without wasting money on space you won’t ever use. This is especially valuable at the portfolio level; if every facility in your portfolio has even a small amount of surplus space on the books, that adds up. Moreover, you’ll have the flexibility to place personnel, teams and equipment wherever they’re needed most for maximum efficiency and creativity.
If you’re a financial services provider with an extensive CRE portfolio, you already know the difficulties inherent in keeping all your data organized and accessible. eCIFM’s financial software solution will give you ready access to all that information to help you make informed decisions, reduce waste and discover new savings opportunities. eCIFM has helped hundreds of organizations get TRIRIGA up and running; some of the world’s leading TRIRIGA experts work for us. To learn more about how to gain single-view access to your most important data or to discover all the ways TRIRIGA can reduce your costs and increase efficiency, contact us.