Oracle Property Manager streamlines and automates lease administration and space management, enabling you to more intelligently manage your real estate portfolio. Whether you are a corporate, commercial, or retail/ franchise operation.
Oracle Property Manager is part of the Oracle E-Business Suite, and is configured out of the box to fully integrate with the Oracle Financials suite.
Oracle Property Manager Functionality automates the full life cycle of a lease as follows:
- Lease Abstraction and Execution:
- Flexibility to capture unique aspects of properties down to room and office level.
- Milestone Management:
- Workflow monitoring of critical dates assures compliance and execution of negotiated terms, conditions, and obligations.
- Transaction Processing and Rent Calculation:
- Calculate, create, and process payable and receivable transactions. (out of box integration with ERP)
- Space Definition and Space Assignment
- Analyze and react to underutilized space. Integration with Computer Aided Design systems (CAD) for virtual space management.
The following list ( Fig 1) is a typical sequence of events that you might follow to abstract a lease in Oracle Property Manager:
- Set up service providers, and define locations, regions and office parks, milestones, and reporting currencies.
- Abstract the lease. (Later, amend and edit it as needed).
- Assign employees to office space. (Later, move and reassign the employees as needed).
- Authorize payment and billing schedules.
- Export payments to Oracle Payables.
- Export bills to Oracle Receivables.
- Review online inquiries and/or produce reports.
- Improve Process Controls
- Reduce Capital Spend
- Minimise Occupancy Costs
- Maximise Space Utilisation
- Lower TCO
Oracle Property Manager is integrated with other Oracle applications, including:
Oracle General Ledger
Oracle Subledger Accounting
Oracle E-Business Tax
Oracle Human Resources
Oracle Enterprise Asset Management
Oracle Property Manager also interfaces with third party applications, such as CAD and CAFM applications.
Property Management is of interest to any organization that wants to maximize its return on real property.
Companies that own or lease real estate can allocate the cost of ownership to the employees or cost centers that use the space. Companies that lease their property portfolios to tenants can—with minimal administration burden—record their leases, schedule payments for rent and service charges, and recover rent owed.
Next Post , we will take more deep dive on some more topics and Integeration with CAD and CAFM applications.