Reduce administrative costs and improve accuracy in handling multiple local currencies and VAT requirements across a real estate portfolio
The new Enhanced Global Feature Set, embedded within several ARCHIBUS Real Estate Portfolio Management applications, seamlessly handles multicurrency cost transactions and enables consolidated reporting in an organizational currency of record, while allowing local cost transactions to be managed in the local user’s currency and units of measure (e.g. square feet or meters).
In addition to enabling users to work with multiple local currencies, the Enhanced Global Feature Set also provides the flexibility to adapt to local VAT requirements. Organizations thereby gain complete, real-time visibility into their overall costs and financial performance, with the ability to analyze that information using any selected currency and level of detail. ARCHIBUS collects data locally and aggregates information globally, delivering unified, real-time intelligence.
- Provides streamlined, consolidated reporting while enabling local users to record, track and plan real estate and facilities costs in local currencies and units of measure (e.g. square feet or square meters)
- Calculates VAT percent accurately based on country and cost type, validating costs against lease agreements and thereby reducing administrative errors
- Enables dynamic reports that detail Base Costs, VAT and Total Amount for past, current, and projected transactions for accounting, taxation, and budgeting purposes
- Increases transparency and assists in reconciliation with detailed audit tracking of each cost transaction, original cost currency, exchange rate, and currency factor update
The new Enhanced Global Feature Set is included in the following ARCHIBUS Real Estate Portfolio Management applications (V.20 or higher):
- Portfolio Management consolidates real estate data to visualize the portfolio and improve asset stewardship; provides benchmarks of portfolio performance to enable rapid, fact-based decisions.
- Lease Management verifies the organization is only paying for costs on active leases and also streamlines the addition of rent, option, and expiration information to the central repository
- Cost Administration expands cost management functionality to other high-value components – such as rent, security, housekeeping, and maintenance – and compares costs and profitability of individual buildings
- Cost Chargeback & Invoicing bills back costs to tenants and/or internal cost centers using lease chargeback agreements