Reducing processing time and enhancing efficiency in end customer billing

Background:
Our Client is a multinational corporation with a diverse range of businesses, including real estate management.
Client was facing challenges in managing their lease portfolio as they had a large number of leases with complex terms and conditions. Client was struggling to keep up with the lease abstraction process, which was affecting their end customer billing.

Challenges:
Due to high turnaround time (TAT) caused by back lock of non indexed leases and delay in abstraction process impacted their ability to invoice their customers in a timely manner leading to revenue loss.

The Solution:
Lean methodology: Based on the value stream mapping identified the non value added activities.
Appropriate Tools and technologies were applied to improve the inefficiency at the process SIPOC level. Regular governance have been implemented at the SME’s and Leadership Level.

Results:
Improved the Turnaround time by 30% by reducing the process time Customer was able to complete the project on time Customer efficiency gained on the financial impact.

Innovation:
Monitoring the Key metrics on regular basis. Setting up a EWS (early warning signal) to identify the issues impacting business.

Overcoming lease portfolio setbacks: mitigating risks through expertise and transparency

Background:
Our Client is a leading provider of lease abstraction services, assisting clients in efficiently managing their lease portfolios.
However, the company encountered significant challenges related to domain expertise and lack of transparency, causing frustrations for a valued customer and impacting their business plan

Challenges:
Client was at risk in managing the portfolio as the lease abstraction process used was with inefficiencies and inaccuracies.
The previous service provider they engaged did not have the necessary expertise and resources to handle the complex lease portfolio, resulting in poor quality output. The lack of transparency in the process also led to trust issues with the service provider.

Solution:
Deployed a dedicated team of highly skilled professionals with a decade of experience.
Proprietary Foundation training implemented for the domain and skill required for the project.
Developed an Employee Cadence Report – Keeping employee engaged and aligned to the project goal
Regular MIS Reporting and Governance update gave great comfort to the client.

Results:
Accuracy improved from 91% to 98%.
Dashboard was shared on a regular frequency for a better transparency
Improved overall customer experience

Innovation:
Domain Competency Management is key to the Project.
A Well Structured MIS report at regular interval cemented the relationship

Earning customer trust with a reliable quality assurance system: implementing a predictive accuracy framework

Background
The company was facing challenges in managing their lease portfolio, as they had a high volume of leases with complex clauses and terms.
They had engaged a lease abstraction service provider but were unhappy with the quality of the output, as they had no way of predicting the accuracy of the output.

Challenges:
We are facing challenges with their lease abstraction process, resulting in inefficiencies and inaccuracies.
We did not have a robust quality framework in place, resulting in poor quality output.
The lack of predictability in the accuracy of the output led to delays in billing and caused trust issues with their customers.

The Solution:

HOPE Methodology

– It is a quality framework that drives Continuous Improvement on customer metrics and their end customer experience.

Propertize Q

– It is a solution which collaborates six sigma and lean metholodology to focus on key controllable of quality variables and drive predictable quality output.

Results:

  • Reduced the error rate from 6% to1% per resource.
  • Provide a predictable quality output to the customer.

Innovation:
Quality of the data is critical to business. Hence the Service provider should have a deep dive understanding on the process levels and its controllable:

1. Value Stream Mapping is important for understanding the controllable of the Quality SLA parameters.
2. KYC (know your customer): All the resources involved in the client project should know the SLA parameters and their impacts.

Optimizing Additional Rent Collection for Maximized Revenue

Background:

The company was facing challenges in the payment of Additional Rent Charges below following the Base Year concept

  1. Operating Expenses
  2. Real Estate Taxes
  3. Insurance

Challenges:

  • Delayed rent payments caused revenue loss and financial instability
  • Precise Base Year calculations were crucial to avoid financial mistakes
  • Poor communication between Tenant and Manager prolonged conflicts and collections

Solutions:

  • Implemented advanced software for accurate rent calculations, ensuring efficiency with MIS Dashboard
  • Created a 90 Days communication plan improving Tenant and Manager interaction
  • Conducted audits to fix discrepancies and provided training, reducing disagreements

Results:

  • Timely rent payments boosted financial stability
  • Clear communication and accurate calculations enhanced Tenant satisfaction
  • Automation improved focus and efficiency, enhancing overall operations