JLL's lease admin mastery bolsters client's bottom line
Global financial firm streamlines portfolio management with integrated solution based on stringent data accuracy requirements
Spotlight
100% accuracy in data and payment management across 7,000 data points per annum
Value
37% reduction of annualized rent roll in a 4-year period across right-sized portfolio
Size
Successful transaction management of nearly 60% of assets, ~700 transactions per year
A leading global financial institution partnered with JLL to transform its lease administration and portfolio management processes. Through strategic globalization and advanced data management, JLL delivered unparalleled accuracy and efficiency, resulting in significant cost savings and improved decision-making capabilities.
A prominent financial institution faced challenges in managing their significant global real estate portfolio due to inconsistent regional data and finance processes, incomplete data and variations in their transaction management delivery model. The firm’s real estate leaders sought a partner capable of streamlining operations consistently across regions, supporting large-scale portfolio changes while maintaining stringent data integrity requirements.
As part of an ongoing transformation program with the client, JLL implemented a comprehensive portfolio management solution, utilizing our expertise and the latest industry-standard systems to transform operations. The team leveraged JLL’s resources to create an integrated global service delivery model, ensuring consistency in data and finance management across all regions.
A key component of the transformation was employing JLL’s regional shared service centers to streamline document intake across all regions, while controlling the global processes centrally. JLL also enhanced our change control procedures to meet the client’s rigorous data integrity checks. The solution included a six-layer control process to maintain data accuracy, addressing the client's strict requirements for both data and payment precision. All processes and playbooks were reviewed and updated to ensure consistency of approach, delivery of activities to the client’s standards and requirements, and adherence to strict SOC1 governance controls. Each playbook was backed up with clear RACI models.
The client saw a significant reduction in payment and data errors, leading to cost savings and improved financial forecasting – including realizing a 37% reduction in annualized rent roll across a 4-year period through portfolio reduction, and delivering $165M of future cost avoidance.
“JLL's team significantly upscaled our previous advisor’s approach to portfolio management,” says the firm’s global head of real estate portfolio management. “Their ability to work to a requirement for 100% accuracy in data and payments, while supporting our global portfolio repositioning, has been invaluable. The consistency and reliability of their global service have supported us in making strategic real estate decisions that drive our business forward.”
The transformation yielded impressive results. Over a one year period, the client achieved:
- Zero errors in data and payment management, consistently meeting rigorous contract standards
- Four consecutive quarters of passing data integrity audits, which equates to 100% accuracy over 7,000 data points processed per annum
- Successful management of transactions affecting nearly 60% of assets, approximately 700 transactions per year
- Client financial benefit to JLL service cost of 4.5:1
The globally coordinated approach enabled more strategic, efficient implementation of the client's portfolio management program, delivering substantial value, managing operational risk and supporting the organization's broader resiliency goals.
“Accurate lease administration data unlocks numerous benefits, from cost savings to enhanced portfolio decision-making that supports business growth,” said Brett Abrams, JLL Global Head of Lease Administration. “The impactful results not only streamline operations but also empower strategic initiatives. We're proud to have delivered this essential data to our financial services client at a critical time, driving transformative outcomes for their business.”
The power of precision in portfolio management, made possible by JLL
Learn how our lease administration and transaction management services can drive accuracy, efficiency, and strategic value for your organization’s portfolio, too.
