In order to get rid of confusing Excel lists, missed deadlines, lost contract documents and inflexible contract management, a company in the fashion retail industry commissioned B&P with their portfolio management.
The client’s employees were being held back from their core work by inefficiently managed contract administration. The structures and processes did not scale with the number of new stores opened, resulting in disproportionately high costs.
Many mid-sized companies face this challenge. A service provider that combines the punch of an entire department with the flexibility of external management could deliver the solution.
The primary goals were:
- Creation of a 100% correct and reliable data situation
- Scalability of the administration with the number of stores
- Long-term control and overview of the store network
With a team of specialists and customized management software, B&P was able to take the client’s portfolio management to a new level.
Various Excel lists, which sooner or later lead to outdated information, were replaced by the in-house management software CIMT. All contract conditions such as terms, rents or deconstruction obligations are clearly displayed for each location. One click further, you will find rental agreements, utility bills, addenda and more.
Thanks to the integrated deadline management including timer function, unwanted prolongations or missed option drawings are a thing of the past. The client’s employees were able to work on their core tasks again after B&P’s involvement. Tough landlord correspondence or the time-consuming checking of service charge statements were outsourced to B&P.
Here’s how we did it
In portfolio management, correct data as well as optimized and smooth processes are the be-all and end-all. Through B&P, both one and the other were ensured. Our involvement summarized as follows:
- Migration of data and documents from the old system to CIMT
- Manual check to guarantee complete correctness
- Identification of optimization potential in the store portfolio
No effort was incurred by the client in migrating the data and records. Deliver contracts – receive ready-to-use software. It can be that simple. This engagement also followed this principle. Contracts and data were imported fully automatically from the old administration tool into CIMT. A manual check of all data and documents guaranteed completeness and one hundred percent correctness. With correct and reliable data as a basis, further activities were carried out professionally. Service charge statements for the last three years were checked for arithmetical and formal errors, so that unexpected savings potential could be activated with an effect on liquidity. All other landlord claims and settlements were also checked and processed quickly by the trained portfolio management team.
With an up-to-date contract and data situation, the team then turned its attention to the strategic alignment of the store portfolio. Thanks to comprehensive analyses and benchmarks, B&P identified saving potential and locations in need of improvement. Upcoming deadlines could thus be approached with a clear negotiation mandate. Thanks to B&P’s support, the client not only saved money and time, but also regained long-term control and overview of its store network.
Portfolio Management at the push of a button – made by B&P Bergmannpartners & CIMT