WebCenter Customer Spotlight: Regency Centers Corporation
By me on Sep 26, 2012
Author: Peter Reiser - Social Business Evangelist, Oracle WebCenter
Regency grew rapidly over much of the last decade. To keep up with the
monthly and yearly administrative processes required to manage thousands
of tenants, including reconciling yearly pass-through expenses, the customer upgraded to Oracle’s JD Edwards EnterpriseOne Version 9.0 and deployed Oracle WebCenter Imaging, Process Management and
Oracle BI Publisher, to streamline invoice processing and reporting.
Using Oracle WebCenter Imaging - Regency accelerated and improved vendor invoice accuracy which increases process integrity by identifying potential
duplicate bills while enabling rapid approval of electronic invoice
Regency Centers Corporation, based in Jacksonville, FL, is a leading national owner, operator, and developer of grocery-anchored and community shopping centers. The company owns 367 centers, totaling nearly 50 million square feet, located in top markets throughout the United States. Founded in 1963 and operating as a fully integrated real estate company, Regency is a qualified real estate investment trust that is self-administered and self-managed, operating from 17 regional offices around the country.
- Ensure continued support of vital business applications that drive the real estate developer’s key business processes, including property management and tenant payment processing
- Streamline year-end expense recognition and calculation, enabling faster tenant billing
- Move to a Web-based platform to deliver greater mobility and convenience to employees
- Minimize system customizations to reduce IT management costs and burden moving forward
Recency Centers Corporation worked with the Oracle Partner ICS to upgrade to Oracle’s JD Edwards EnterpriseOne Version 9.0, migrating to a more user-friendly, Web-based platform and realizing numerous new efficiencies in property management and tenant payment processing. They accelerated and improved vendor invoice accuracy with Oracle WebCenter Imaging, which increases process integrity by identifying potential duplicate bills while enabling rapid approval of electronic invoice documents.
- Enabled faster and more accurate tenant billing for year-end expenses, accelerating collections of millions of dollars in revenue
- Gained full audit and drill-down capabilities that facilitate understanding various aspects of calculations for expense participation generation
- Increases process integrity by identifying potential duplicate bills while enabling rapid approval of electronic invoice documents
- Helped to ensure on-time payments to hundreds of vendors, including contractors and utilities
"We have realized numerous efficiencies with Oracle’s JD Edwards EnterpriseOne 9.0, particularly around tenant billings. It accelerates our year-end expense reconciliation process and enables us to create and process billings more quickly.”
James Chiang, Vice President of Real Estate Accounting Regency Centers Corporation