SAP Cloud for Real Estate
The corporate real estate sector has gone through different phases over time and is facing a transformation due to the digital economy.
In the past, corporate real estate was focused on financial performance. The focus was initially on reducing real estate-related costs. Over time, more streamlined processes were added using various services and tools that supported and enabled individual real estate processes. Today, this focus is on connected real estate assets, which are optimized and developed by new insights. The demand for flexible and agile real-time access to big data, analytics, innovative technologies and mobile cloud solutions is increasing. The way we live, work and do business is changing and bringing new innovations to the market.
So what does this mean for property managers?
They face a major challenge because the new focus will bring new requirements for them. Buildings are becoming smarter; workplaces are mobile and compliance requirements are increasing. In addition, rapidly changing demand is shaped by rapidly changing business and consumer trends. To support real estate managers, you need simple, connected IT solutions to manage the complex corporate real estate environment.
Our answer to these outstanding challenges is SAP Cloud for Real Estate, a strategic financial cloud application that supports integration with SAP S/4HANA and provides centralized information for an organization’s corporate real estate portfolio. With SAP Cloud for Real Estate, modern corporate real estate organizations can lay the foundation for data-driven real estate management. The solution has strong financial integration, provides analytics, and is easily connected via the cloud to web applications.
Built on SAP Cloud Platform, this IFRS 16-compliant solution helps CFOs and corporate real estate managers answer key questions about space utilization, facility costs, portfolio composition, and partner collaboration through a consumer-grade user experience.
It is a separate add-on solution to the SAP Real Estate Management application used to manage residential and commercial real estate. SAP Cloud for Real Estate is a public cloud offering and releases will be released biweekly. It is a web-based product and no on-premises installation is required. SAP Cloud for Real Estate covers the topics Manage Real Estate Locations and Space Management and offers integration with Contract and Lease Management.
SAP Cloud for Real Estate is available in different products:
- SAP Cloud for Real Estate
- SAP S/4HANA Cloud for Contract and Lease Management with SAP Cloud for Real Estate
- SAP S/4HANA contract, lease and property management with SAP Cloud for Real Estate
The main components of SAP Cloud for Real Estate are:
Manage Real Estate Locations is used to manage corporate real estate portfolios. The workplace management solution supports the assignment of workspaces and locations by team or individual.
Contract and Lease Management is an enhanced contract management system used by leasing and location managers to track and maintain rents and related costs. It complies with IFRS16 leasing standards and provides native financial integration.
- Identify underutilized resources and provide better insights into the financial situation by providing a set of the most critical KPIs to better manage the business.
- Be on the lookout when it comes to compliance, especially in terms of new IFRS/US-Gaap leasing regulations. By implementing Cloud for Real Estate, they can respond to this challenge with an E2E solution that is seamlessly integrated into financial processes.
SAP Cloud for Real Estate as part of the real estate product family
