Ditch Your Spreadsheets! Why PeopleSoft Retail and Hospitality Industry Customers Have an Opportunity Right Now

PeopleSoft retail and hospitality industry customers: it’s time to ditch your homegrown, sprawling spreadsheet farm and start enjoying the benefits of PeopleSoft’s Real Estate Management (REM) solution, you can visit condos for sale regina for more details. 

It’s an understatement that the tough economy is severely impacting the retail and hospitality industries.  The consumer is scared and discretionary spending has been cut to the bone.  In the words of a good friend of mine, 2009 is turning out to be a “character building” year.

If you are PeopleSoft customer, PeopleSoft’s REM solution provides you with a very cost effective way to manage what is likely to be your largest asset — your individual store locations.  While the benefits offered to retail and hospitality customers are significant and covered in more detail below, allow me to take a small step back and provide you with a quick history lesson.

Prior to the JDEdwards acquisition, PeopleSoft didn’t have a real estate management solution.   JDEdwards on the other hand had a great solution.  Originally developed in the 1990s, JDEdwards had developed a robust solution for real estate management.  The solution was so well accepted in the marketplace that JDE created a separate business unit and field sales organization to focus solely on real estate management opportunities.

After acquiring JDEdwards, PeopleSoft realized they had a great opportunity to increase the value of their retail and hospitality customers’ investment in PeopleSoft applications.  PeopleSoft quickly made the decision to rewrite the JD Edwards Real Estate Management solution in PeopleTools and integrate it with the PeopleSoft Financials, Supply Chain, and HCM applications.

Fast forward to the realities of a challenging, uncertain 2009.  PeopleSoft customers have the opportunity right now to really manage their real estate portfolio and not just throw hordes of spreadsheets at the problem.   If you’re not convinced and still think spreadsheets are good enough for your organization, have you considered the following?

• Can your spreadsheets manage common area maintenance costs accurately so you can ensure you are not overpaying?
• Can spreadsheets effectively ensure FASB compliance?
• Do your spreadsheets alert you to impending events such as lease renewals?
• And speaking of lease renewals, do your spreadsheets capture the information you need so you are sufficiently prepared for a lease renewal negotiation?
• Are your spreadsheets integrated into your PeopleSoft Financials systems so you have true enterprise visibility of your real estate portfolio?
• Do your spreadsheets provide you with the reporting and business intelligence capabilities needed to make smart decisions?

Still not convinced?  Well, it could be that your competitor is convinced and has already invested in real estate management solutions.  Consider this quote from an excellent 2008 AMR Research report entitled Retailers Take New Approaches To Real Estate Management:

 

“The retail industry is making a massive shift from Microsoft Excel spreadsheets and homegrown technology to packaged applications for managing the entire lifecycle of properties.  In 2006, 25% of retailers used enterprise software applications for the purpose of real estate management. That number grew significantly to 36% in 2007.”

That’s a 44% year-over-year increase!

Have I piqued your interest?

For more information on the benefits of the PeopleSoft Real Estate Management solution, please email me or give us a call at 800-774-5187.  In addition, you can check out Oracle’s website and download some of the collateral related to the product.

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Previously:

The Value of Integration for PeopleSoft Customers in Asset-Intensive Industries
PeopleSoft Maintenance Management: A Deeper Look
PeopleSoft Real Estate Management: A Deeper Look
An Introduction to PeopleSoft Asset Lifecycle Management
Sneak Peek: PeopleSoft Enterprise Portal 9.1
PeopleTools 8.5: A Look Inside

Related whitepapers (PDF):

PeopleSoft Maintenance Management: An Introduction and Overview of Benefits

Related web content:

MiPro Consulting: PeopleSoft Services
MiPro Consulting: Resources