Business Process Re-engineering

Improving the

organizational, financial &

operational performance of

your building!

Faraz MemonPrincipal, REdirect Consulting

About Faraz:

Mr. Memon brings over a decade of experience focused on implementing technology solutions in the real estate market.

Faraz has worked with a wide breadth of real estate companies to develop creative solutions that address the unique needs of each business, leverage technology to streamline business processes, lower total cost of ownership and increasing the bottom-line.

Prior to joining REdirect, Faraz managed the operations for real estate applications at a global owner/manager based in NYC and also spent several years in the consulting department at Intuit Real Estate Solutions (IRES) working on a wide array of MRI projects and systems implementations.

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Business Process Re-engineering Improving financial & operational performance of your building

Sarah Fisher

sfisher@buildingengines.com

Director, Marketing & Communications

Building Engines

Key Upcoming Events!

September Webinar

Get Social: Harness the power of

social media to attract & retain

tenants!

Today’s Webinar Topics

• What are key industry or technology trends driving change?

• How do you define business process re-engineering?

• How and why do companies decide to take a serious look at their processes, and how do they get started?

• How do you advise companies to approach such areas as benchmarking, data migration and overall management of operational changes?

Business Process Re-engineering Improving financial & operational performance of your building

The result? A focus on…

• Cash Flow

• Operational Efficiency

• Asset Performance

Hold time for real estate has increased.

Business Process Re-engineering Industry trends impacting operations

Business Process Re-engineering Approaching improvements to building operations

Performance Issues:

• Reactionary Operations

• Lack of systems and

Processes

• Too manual / not replicable

Business Process Re-engineering Technology Adoption in Real Estate

Business Process Re-engineering Technology Adoption in Real Estate

Vendor Portal

Accounting

Leasing

Investor

Portal

Tenant Portals

Green Technology

Facilities & Maintenance Management

Business Process Re-engineering The impact of consumer technology adoption on business

Mobile Access to Information:• Smart Phones

• Tablet PCs

• Laptops

Higher Demand from Staff/Clients: • Administration

• Leasing Agents

• Facilities & Maintenance Staff

• Executives

• Tenants!

Technology = a competitive advantage!

What is Business Process Re-engineering?

“The review and redesign of daily processes to achieve

dramatic improvements in performance, cost, quality,

service and speed”

• What are we doing day-to-day?

• How are we supporting our clients?

• How do our operations support our business goals?

• How do we handle internal communications?

• How do we handle external communications?

• Have not met technology implementation goals

• Unable to meet certain reporting requirements

• Poor tenant retention

• Slow customer response times

• Complaints from staff

• Escalating costs

Business Process Re-engineering Common Triggers

The Key: Executive commitment to keeping eyes and

ears open to symptoms, complaints, and discussions

within their business.

Business Process Re-engineering Making a Decision

Business Process Re-engineering The Cost of Doing Nothing

$

Business Process Re-engineering Beginning the Process

List & evaluate all current systems, information

sources, and processes1

2

3

Categorize the types of improvements:• Technology based

• Process Based

• Staff/Role Alignment

• Systems Alignment/Expanded Use

Executive involvement & buy-in

Business Process Re-engineering Benchmarking & Measurement

Real Estate Benchmarking

Measure current stats for important items:

i.e. acquisitions, tenant service, expenses

Set Time Frame & Goals

Compare percent change since changes

implemented!

Your

Processes

Business Process Re-engineering Making Technology Decisions

Don’t slap a

technology

“cover” on your

current

operations

Customization

is costly & not

necessarily

beneficial

Don’t ignore

best practices

in the new

system

Be

Flexible

Business Process Re-engineering Approaching Data Migration

• Dealing with the “Excel”

dilemma

• How much history do you

want?

• Be prepared to have less

usable data than you

anticipated & grow from there

Business Process Re-engineering Best Practices

Don’t Panic! You’re going to find problems (many)

Set Goals ! And assign a group/person/executive to police

them

Don’t Sweep it Under the Rug! Don’t be ashamed of

issues. Assign a group/person/executive to police them

Business Process Re-engineering Final Thoughts

Business process re-engineering is NOT

a one-time initiative

Faraz MemonPrincipal, REdirect Consulting

About Faraz:

Mr. Memon brings over a decade of experience focused on implementing technology solutions in the real estate market.

Faraz has worked with a wide breadth of real estate companies to develop creative solutions that address the unique needs of each business, leverage technology to streamline business processes, lower total cost of ownership and increasing the bottom-line.

Prior to joining REdirect, Faraz managed the operations for real estate applications at a global owner/manager based in NYC and also spent several years in the consulting department at Intuit Real Estate Solutions (IRES) working on a wide array of MRI projects and systems implementations.

Business Process Re-engineering

Improving the

organizational, financial &

operational performance of

your building!