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Manhattan Real Estate – The Most Comprehensive, Global and Financial Solution |
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Managing an organization’s real estate portfolio has never been more complex and more demanding as companies come together, split apart and grow their operations all over the world at breathtaking speed. Manhattan Real Estate was designed to not only react quickly when these changes occur with up to date, accurate information, but also be able to develop scenarios on how different futures may play out. With our Web 2.0 platform, collaboration has never been easier as vendors and partners come together to strategize and acquire, develop or dispose of real estate assets. Analyses can be made on both the geographical, organizational, spatial and financial information and decisions are less risky with the ability to understand total cost of ownership/occupancy by each building in the portfolio. Applications include: 1. Strategic Portfolio Planning and Management
Manhattan has a unique feature to define ownership, location and any other analytical structures with its flexible hierarchy tool, the Organizational Breakdown Structure (OBS). The organization can be broken down into whatever levels are necessary, as can the geographical locations from a world view to an individual floor. This structure is readily changed to support the changes in the organization and these changes are automatically reflected in the reporting.
Creating the right mix of leased, owned, shared buildings and managing these assets at the lowest cost for highest productivity requires detailed information on the supply and forecasted demand. Supply side data includes information on utilization, occupancy and vacancies and forecasts can be prepared based on headcount and/or equipment. Scenario plans can be developed visually comparing existing and future stack and block plans. In addition, visual dashboards can be created during the strategy formation process.
2. Transaction Management
For acquisitions and dispositions (full or partial), the entire lifecycle of the deal is tracked from business requirement gathering, through the deal making, creation of shadow records, conversion of shadow records to actual records, offer history, valuation of current and future property investments by fair market value, DCF and equivalent yield methods, rent and CAM charges (including indexation) and integration with Manhattan Project Management. Additionally, the process steps to complete the transaction are tracked for visibility of the status of each transaction at any period of time.
3. Financial Management
Manhattan is the only IWMS with extensive financial management capabilities. The Manhattan Financials can standalone as a full financial system where CRE runs as a separate financial entity as well as acting a s a supporting system to the corporate ERP systems.
The following applications are included:
Real Estate Asset Ledger (REAL) provides full General Ledger analysis. Too often the challenge faced by CRE professionals is the inaccessibility of the financial data necessary to make key management decisions. Manhattan’s REAL enables financial data to be held at the level required by real estate including analysis by real estate dimensions such as property, vendor, contract, project and lease. This helps manage the Total Cost of Occupancy / Ownership for each property. The lower cost of processing transactions in Manhattan means that consolidated financial information can be passed to the corporate ERP system whilst still retaining the full accounting controls. Multiple coding structures can be supported including BOMA, OPD and CSI as well as internal structures. Manhattan REAL includes full integration with sub-ledgers, unlimited number or ledgers, multi-currency and multicurrency consolidation, transaction imports from Microsoft Excel and interfaces to the major ERP systems.
Accounts Payable manages the vendor invoices and payments. Invoices can be entered directly eg utility invoices, generated from the lease administration or be matched directly against purchase order created in the Facilities Management and Project Management modules This provides full visibility of all CRE business being performed with a vendor. Manhattan includes full check and EFT payment process as well as integration with the corporate ERP system for payment.
Accounts Receivable manages the collection of rent from tenants at lease or sublease level. Invoices are generated directly from the Lease Administration module based on the terms of the lease and include rent, CAM charges, insurance, security deposits and any one off charges. Rental invoices can optionally be printed. These can be passed through to the Corporate ERP system to manage the debt or the debt can be managed in Manhattan using the cash receipting and debt recover facilities.
Fixed Assets includes the ability to track any type of asset (e.g. any real property, infrastructure, rights of way, air rights, fleet) and perform a life-cycle analysis including diminishing value and component depreciation. This module is integrated with Manhattan’s Preventative Maintenance, Help Desk and Projects modules.
Budgeting/Forecasting interfaces with the Real Estate Asset Ledger for baseline data on real properties, units, operating costs including leases and projects and can compare budget vs. actual costs. The budgeting extends into the Facilities Management and provides the controls to alert users to budget issues and prevent orders being raised where there is insufficient budget available.
Order Processing is an advanced purchase control system with budget management capabilities which controls the full procurement cycle using workflow functionality. It is fully integrated with Manhattan’s Facility and Project Management modules and provides the link into Accounts Payable for the invoice processing.
4. Enterprise Resource Planning (ERP) Integration
Manhattan integrates to an organization’s enterprise financial, human resource and customer relationship management systems to input and out put real estate and FM data to corporate systems.
5. Lease Administration
The opportunity to reduce leasing costs is achieved not only through good lease negotiation but also through strong lease administration to ensure that the deal achieved is adhered to. Manhattan Lease Administration generates the lease charges based directly on the lease terms including any rent steps, CPI or percentage rent and creates the Accounts Payable / Receivable transactions directly. These can in turn be passed through to the corporate ERP system providing seamless integration with the payments. This avoids any double handling and allows the lease payments to be determined by the people who understand and administer the leases.
Critical date management ensures that all key dates are actioned in a timely manner to take advantage of options to renew, expand or exit a lease in line with the Strategic Portfolio Planning.
By being a true IWMS system, lease information is available to project managers and facility managers to avoid unnecessary costs when the lease is soon to be exited.
6. Customer Relationship Management
Manhattan has developed a CRM module for a CRE/FM organization to monitor their customers (internal business units), survey them on performance issues (i.e. response time, Post Occupancy Evaluations) and record their business requirements. This application was developed for property management customers and is now being utilized by corporations for better service to their own internal customers.
7. Site Selection and Optimization
Manhattan’s Valuation capability enables detailed analysis to be performed on various sites for analysis. This includes scenario analysis, prepared Discounted Cashflows and comparing these for the various options, as well as NPV analysis. Manhattan’s hypercube modeling capability enables multiple dimensions to be analyzed and compared to support Site Optimization. Multiple versions of each model are supported so that different scenarios can be analyzed. This can include financial evaluations, capacity planning, adjacency analysis, market analysis and any other factors for optimization run in different scenarios.
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Real Estate