Breaking Down Data Barriers: Derwent London finds a better way to work by linking lease data and planning tools
As the largest London-focused real estate investment trust (REIT) in the UK, Derwent London plc owns 77 buildings in a commercial real estate portfolio predominantly in central London valued at £5.7 billion. Typically acquiring central London properties off-market with low capital values and modest rents in improving locations, most of which are either in the West End or the Tech Belt, Derwent London seeks to capitalise on the unique qualities of each of its properties – taking a fresh approach to the regeneration of every building with a focus on anticipating tenant requirements and an emphasis on design.
Business challenge
Derwent London has used MRI Strategic Planning software for more than 10 years as a centralised database for lease details, portfolio analysis, financial planning and scenario modelling. The firm recently began using MRI Contract Intelligence to create a central database of lease documents and to extract key lease data. Once new leases are uploaded to Contract Intelligence, users can quickly gain access to key data and clauses within legal documents which are required for accounting purposes, data analysis or commercial discussions without having to manually scroll through entire lease contracts. However, Derwent London wanted to enhance this capability further with a more efficient workflow between the two systems.
“Using MRI Strategic Planning with Contract Intelligence gives all teams quick and easy access to critical information and increases our ability for deeper analysis and data accuracy.” – Jennifer Whybrow, Head of Financial Planning and Analysis, Derwent London
Solution
MRI and Derwent London, working together, arrived at a solution that provides a link between Strategic Planning and Contract Intelligence, enabling Derwent London users to jump from lease data in their Strategic Planning application to source documentation stored in Contract Intelligence with a single click.
Business Impact
Connecting MRI Strategic Planning and Contract Intelligence provides Derwent London with a clear audit trail of their data and allows users to access key information which opens avenues to deeper analysis and collaboration.
Faster access to lease information
The link between the two applications means users no longer need to navigate away from their current workflow to access a separate system. This efficient workflow allows individuals to quickly get visibility into specific data points, saving users valuable time and giving them even more freedom to access key information from a single source when and where they need it most without the need to manually search through pages of documentation.
Centralized source of lease data
By using one solution to centralize their data Derwent London can achieve faster scenario modeling and gain visibility of key information across the business – increasing accuracy and efficiency. As the firm has adapted and grown, so have their requirements for the software to allow them to perform at the highest levels.
Reliable data sharing with external valuers
Derwent London also employs MRI Analytix to pass data back and forth to external valuers. Sharing data directly within MRI Analytix reduces data entry errors and creates a flow of information to empower all users on either side.