Equites Property Fund
Business Challenge
With a portfolio of over 60 properties, managing leases among a relatively small team became time consuming and inefficient. Its system involved numerous spreadsheets and physical folders full of paperwork, meaning administration and data extraction was taking up inordinate amounts of time. The system also risked the business’ data integrity, since inaccuracies can lead to lost revenue via unrecovered income. As a company, Equites has fully embraced new innovations and technology that improve efficiencies and save time, so it was clear to the team that a solution needed to be found to improve its lease management systems.
Solution
As an existing customer of MRI, Equites went straight to its account manager to discuss product solutions that could help to drive efficiencies and improve its operations. When the team was shown MRI Contract Intelligence, it was impressed: It was important hat the chosen solution could integrate fully with its existing systems, and as users of MRI’s property management solutions already, MRI Contract Intelligence was the perfect fit.
Business Impact
Time Saving
As its main objective, the team at Equites will benefit from the streamlined processes that MRI Contract Intelligence offers. Manual extraction of data has been a major consumer of team resources, but with AI technology accurately completing this work in seconds, the time can now be focussed on value-adding activities that benefit the business and shareholders.
Improved Accuracy
Rolling out MRI Contract Intelligence across the organisation allows for a shared database which can be accessed by the whole team. Working from a single source of truth in this way negates the risk of discrepancies across datasets and ensures a higher level of data integrity. This improved accuracy also helps to ensure the business is recovering all the income it is due.
Useful Reporting
With MRI Contract Intelligence, the team at Equites will be able to access
comprehensive, fully customisable reporting, which allows for data to be presented quickly and clearly, enabling more informed decision making at board level.
The speed at which information can be compiled is a significant attraction for the team, as previous reporting, audits and publishing of annual results meant delving into folders and navigating filing systems to extract the appropriate data. With MRI Contract Intelligence, this data is available quickly, easily, and accurately.
User Friendly
Ease of use when implementing a new solution is important for the team at Equites. With the focus of the project being about saving time, the ability to quickly get to grips with the system was one reason it stayed with MRI. As Nasreen confirms, “That the product is user friendly is very important. It doesn’t take hours to work out how to do what.”
Embracing Change
Going forward, the team at Equites is looking forward to launching MRI Contract Intelligence across the company, as well as remaining on the lookout for more time-saving solutions to drive efficiencies within the business.
As an organisation, we like new technology and utilising alternative technologies…if it ultimately saves us time, we go for it. I was blown away – I knew that we needed this.
Nasreen Mukuddem, Financial Manager, Equites Property Fun