Zimele’s Bronze Real Estate Management package provides comprehensive building, land and lease management solution across multiple industries with integrated accounting and real-time financial reporting. It is designed around industry best practices and business processes for organisation looking to pay for leased space, services provided within the leased space or bill for leased out space. The bronze package can also be used as an accelerator for any company looking to implement a Real Estate Management solution.
Utilizing the bronze package will give businesses the following benefits:
• Improved analysis and management of immovable real estate assets
• Automated lease administration and management processes to increase efficiency, reduce errors, segregation of duty and avoid penalties
• Streamline the processes of defining, allocating and approving portfolio costs with direct connection unto accounts payable and receivable
Who can benefit?
The Property Management solution will benefit clients who want to:
• Optimise spatial management
• Improve contract management for Customer and Vendor contracts
• Improve customer satisfication through reliable billing information
• Service provider contract management
• All companies that need to comply with IFRS 16 accounting standards
The Bronze Real Estate Management packages includes the following components:
Master Data Management
Master data are the agreed business objects which are shared across the enterprise. It covers static reference data, transactional, unstructured, analytical, hierarchical and metadata. It reflects the detail within a real estate structure. For example: the highest level in a real estate structure is the complex and the lowest level is a specific room on a floor.
Lease management provides the ability to manage lease agreement with vendors, customers and internal cost centers. The contract imitates the physical paper lease agreement on the system, it tracks the duration of the lease, renewal and termination options, business partners (who is the customer or who is the vendor), all clauses, financial charges agreed on the lease and critical date reminders to assist with efficient management of the lease.
Financial accounting enables companies to generate financial statements such as balance sheets or profit and loss statements for reporting and analysis. Accounting includes General Ledger Accounts contains all of the company’s transaction data in a chart of accounts, accounts payable involves payments to the vendor and the management thereof, and accounts receivable manages the customer and the billing process etc.
Controlling supports processes to plan, report on, and monitor costs from business operations. Controlling is instrumental in improving the company’s profitability. Key functions within controlling is the Cost Elements that provides an overview of all the company’s costs and revenues based on profit and loss statements, Cost Centers deals with the costs associated with the company’s internal divisions or departments and the Profit Centers that handles all of the cost data related to the company’s business lines.
Functionality that provides full end-to-end performance tracking across tiers, while maintaining the performance history. User specific data sets are used for reporting purposes and it also includes mass processing tools.
Customers, vendors and service providers are all created as partners. These partners are used in accounts payable and accounts receivable to process financial transactions. Business partners have the functionality to contain all partners details, banking details, communication method and address.
The design includes four roles. The access and authorisation will be used as a security check as well as segregation of duty. The segregation of duty forms part of the audit generals’ criteria thus best practice dictates multiple roles for creation and approval.
Over 200 standard reporting’s are part of the Bronze package. This includes reports from real estate to financial management.
Document management System
DMS is used to manage business documents, this importance of document management to a day to day business operations plays a key role. Below are the benefits for document management system:
• Check-in / check out functionality
• Search document facility
• Linking of the documents to other objects
• Version management
All the above-mentioned functionality will be preconfigured and loaded into the correct software instance. Based on the customers’ needs, the system will be modified to adequately cater to all requirement. Additional functionality is available on the click of a button in section “AddOn Features”.