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A great deal of effort is involved in abstracting non-formatted/scanned documents. The abstraction of a lease involves references to multiple documents. Since the leases come from various industry types, many sample leases are required for automation testing. Reconciliation of CAM has also proven to be challenging due to the recovery clauses.

The RRD GO Creative™ SolutionRRD GO Creative™ has been performing lease abstraction for more than 15 years. Besides industrial and residential leases, it also abstracts leases from healthcare, hospital, triple net, ground, and telecommunication portfolios and has extensive experience analyzing and entering leases into Yardi through abstraction and data input. RRD’s vendor tool for lease abstraction has been tested with multiple sample lease data sets and trained with 80% accuracy.

Many companies distribute their accounting tasks among property managers, asset managers, in-house, and multiple outsourced service providers. The involvement of multiple parties resulted in communication and language barriers to knowledge transfer. Besides, an internal accounting team incurs high costs on hiring, recruiting, payroll, training, and tax-related activities. Laws, regulations, and compliance policies relating to accounting and finance vary from region to region when multiple parties are involved, making it difficult to track and document them.

The RRD GO Creative™ SolutionRRD GO Creative™ assigns the right people to the right job, while also clearly defining project requirements, durations, and costs. A team of IT and IT governance professionals monitors and secures client data and applications. Furthermore, clients can leverage state-of-the-art PropTech for everyday accounting and financial functions without the burden of heavy CAPEX, while keeping costs low.

The timeline to complete the M&A closure is not realistic at times. It is hard to get the seller's pro-ration details to book the accounting entry. Financial data validation can be the biggest challenge when transferring data from the seller application to the buyer application. The workflow is not clear at times; the point of contact can also become unresponsive.

The RRD GO Creative™ SolutionOur global team of REIT experts can accelerate and ensure a seamless post-acquisition transition of business processes. The end-to-end portfolio management at RRD GO Creative™ ensures highly streamlined workflows and efficiencies. Our experts devise business processes and adopt best practices that are ideal for the client's structure, and employ future-proof and scalable solutions. RRD is also ISO 22301-certified for business continuity management.