IBM Case Studies Streamlining laborintensive processes with simplified lease administration

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	Streamlining laborintensive processes with simplified lease administration IBM

Streamlining laborintensive processes with simplified lease administration

IBM

Technology Category	Platform as a Service (PaaS) - Application Development Platforms
Applicable Industries	Finance & Insurance
Applicable Functions	Business Operation
Use Cases	Leasing Finance Automation
Services	Cloud Planning, Design & Implementation Services
Challenge	Toronto-Dominion Bank (TD) manages leases for thousands of properties, a substantial proportion of which are 'income leases' for properties that have been sublet to other companies. With the growth of the bank, the number of income leases that TD managed increased. The bank had to find a more efficient way of working or face a rise in costs. The bank decided to automate the management of its income leases using IBM® TRIRIGA®, a solution designed to help companies streamline lease administration. IBM hosts the solution in one of its data centers, and supports the test, development and production environments. Read More
About Customer	Headquartered in Toronto, Canada, the Toronto-Dominion Bank (TD) offers a comprehensive range of financial products and services to approximately 24 million customers. The company employs more than 85,000 people in offices around the world. As part of its real-estate business, TD manages leases for thousands of properties. A substantial proportion of these are ‘income leases,’ which are for properties that have been sublet to other companies. Growth sparked a rise in the number of income leases that TD managed. TD had to find a more efficient way of working—or face a hike in costs. Read More
Solution	TD decided to automate the management of its income leases using IBM® TRIRIGA®, a solution designed to help companies streamline lease administration. IBM hosts the solution in one of its data centers, and supports the test, development and production environments. In TRIRIGA, TD established standardized, automated workflows for each task involved in lease management, ensuring that the correct process is always followed first time. The IBM lease administration solution has simplified business processes for TD’s lease and tax team. Workflow automation has eliminated time-consuming manual activities and reduced dependencies on spreadsheets and other manual tracking tools. Read More Log in to view content
Contents

Technology Category

Platform as a Service (PaaS) - Application Development Platforms

Applicable Industries

Finance & Insurance

Applicable Functions

Business Operation

Use Cases

Leasing Finance Automation

Services

Cloud Planning, Design & Implementation Services

Challenge

Toronto-Dominion Bank (TD) manages leases for thousands of properties, a substantial proportion of which are 'income leases' for properties that have been sublet to other companies. With the growth of the bank, the number of income leases that TD managed increased. The bank had to find a more efficient way of working or face a rise in costs. The bank decided to automate the management of its income leases using IBM® TRIRIGA®, a solution designed to help companies streamline lease administration. IBM hosts the solution in one of its data centers, and supports the test, development and production environments.

About Customer

Headquartered in Toronto, Canada, the Toronto-Dominion Bank (TD) offers a comprehensive range of financial products and services to approximately 24 million customers. The company employs more than 85,000 people in offices around the world. As part of its real-estate business, TD manages leases for thousands of properties. A substantial proportion of these are ‘income leases,’ which are for properties that have been sublet to other companies. Growth sparked a rise in the number of income leases that TD managed. TD had to find a more efficient way of working—or face a hike in costs.

Solution

TD decided to automate the management of its income leases using IBM® TRIRIGA®, a solution designed to help companies streamline lease administration. IBM hosts the solution in one of its data centers, and supports the test, development and production environments. In TRIRIGA, TD established standardized, automated workflows for each task involved in lease management, ensuring that the correct process is always followed first time. The IBM lease administration solution has simplified business processes for TD’s lease and tax team. Workflow automation has eliminated time-consuming manual activities and reduced dependencies on spreadsheets and other manual tracking tools.

Impact #1	The IBM lease administration solution has simplified business processes for TD’s lease and tax team.
Impact #2	Workflow automation has eliminated time-consuming manual activities and reduced dependencies on spreadsheets and other manual tracking tools.
Impact #3	Staff receive automatic notifications that keep them updated on the status of the leases they manage, and inform them of any action they need to take.

Impact #1

The IBM lease administration solution has simplified business processes for TD’s lease and tax team.

Impact #2

Workflow automation has eliminated time-consuming manual activities and reduced dependencies on spreadsheets and other manual tracking tools.

Impact #3

Staff receive automatic notifications that keep them updated on the status of the leases they manage, and inform them of any action they need to take.

Benefit #1	With TRIRIGA, we have been able to cut the time staff spend on invoicing, receipting, and delinquency processing.
Benefit #2	Efficiency gains like this have enabled us to increase the number of leases that we can manage.

Benefit #1

With TRIRIGA, we have been able to cut the time staff spend on invoicing, receipting, and delinquency processing.

Benefit #2

Efficiency gains like this have enabled us to increase the number of leases that we can manage.

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Overview

Streamlining laborintensive processes with simplified lease administration

Operational Impact

Quantitative Benefit