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Boston Properties Net Effective Rent

Posted by Mark Kalkwarf on 28 October 2016 in: Web Development

Boston Properties required an update of the spreadsheet model that they used to analyze, compare and evaluate leasing deals, as well as the storage and reference of these deals, which resided in a legacy Lotus Notes environment.

Outcome

Open Box proposed a web-based Net Effective Rent application with integration into Boston Properties’ existing databases. The application allows users to source budget information directly from the forecasting tool, elevating data integrity and enabling leasing representatives to work more efficiently.

Business Case

Boston Properties required an update of the spreadsheet model that they used to analyze, compare and evaluate leasing deals, as well as the storage and reference of these deals, which resided in a legacy Lotus Notes environment. An assessment of third-party tools available to the market found these to be limited in their ability to achieve the project objectives, namely: elevating data integrity; enabling trending analysis; providing a collaborative platform for analysis and workflow, and aggregating data for trend and management reporting.


Solution

Open Box proposed a web-based Net Effective Rent application with integration into Boston Properties’ existing databases. The application allows users to source budget information directly from the forecasting tool, elevating data integrity and enabling leasing representatives to work more efficiently.

The solution also incorporates the ability to produce multiple deal versions for simultaneous cross-comparison and analysis. Management level visibility into current leasing activity is carried out through a simple means of tracking approvals and execution. The capture of redundant information has also been minimized through automation, shifting the process focus from data capture to deal management.

The development of this system has also facilitated the standardization of business processes over multiple regions, resulting in a defined set of business rules being developed and applied.


Project

The project lifecycle included managing the scope, business process revision, development and implementation.

  • Man-days = 200 days
  • Duration = 4 calendar months

The project was implemented into production following user acceptance testing and is currently operational.


Benefits

  • Automated data population.
  • Advanced cross-comparison of deals.
  • Dynamic compilation of cash flows.
  • Introduction of standard and unified business processes.

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