Qiado´s SAP RE-FX Celonis App Transforms Efficiency in Lease Management
Combining the expertise of our CLM and Process Mining teams, Qiado has developed an app to empower organizations using SAP RE-FX to elevate their real estate operation, making decisions based on real-time data and achieving process efficiency that leads to sustained success.
In this article, we share 3 Use Cases in which our app can help clients thrive with SAP RE-FX:
Contracts not following the right process Valuation Rules and Posting not executed
Terms and Renewals: Manual renewals with no notice active
Accounting reconciliation. Identify unbalacements on the Clearing Accounts and Landlord Late Payments
1. Contracts not following the right process Valuation Rules and Posting not executed
The lack of contract valuation rules creation and posting activities visibility may lead to negative financial impacts, compliance risks, operational inefficiencies (i.e., manual efforts to identify, reconcile and correct discrepancies), delayed payments and cash flow management consequences (i.e., unposted transactions may distort cash balances)
⚠ Challenges & Risks
Lack of visibility if a contract has not had its valuation rules run
Lack of visibility if the contract has not been posted
Negative Financial impact
Compliance Risk
Operational inefficiencies – manual efforts to identify, reconcile and correct discrepancies
Cash Flow Management: unposted transactions may distort cash balances
Delayed payments or inaccuracies in billing statements
✅ Direct benefits With RE-FX Celonis App:
🔎 Real-time monitoring: tracking the status of the valuation rule execution and posting providing immediate visibility into potential issues.
⚙ Automate the resolution: by using predefined rules, minimizing manual intervention. Previously identifying common errors and patterns: based on historical data, knowledge, OCR´s, Task Mining.
For example: if an invoice is missing a mandatory field, the rule could specify that the missing data be populated based on predefined defaults.
🔔Automated Alerts: set up automated alerts via Action Flow to notify relevant stakeholders when valuation rules and posting have not been executed. Define expected timeframe and conditions to prioritize and avoid overloading notifications
📋Escalation Procedures: establish escalation procedures within the notification system to ensure timely action is taken when valuation rules and posting are not executed. Automated escalation workflows can escalate unresolved issues to higher-level stakeholders or trigger follow-up actions to address the root cause of the problem.
2. Terms and Renewals: Manual renewals with no notice active
The lack of contract renewal dates and terms visibility and the manual tracking of notices and deadlines may lead to the loss of renewal opportunities, compliance risks, operational disruptions and manual efforts that increase resource utilization.
⚠ Challenges & Risks
Lack of visibility into contract renewal dates and Terms
Manual tracking for notices and deadlines
Missed renewals opportunities
Compliance Risk
Operational disruptions
Manual efforts increase resources
✅ Direct benefits With RE-FX Celonis App:
🕓Real-time monitoring: track the status of all your contracts and periods of renewals. Anticipate upcoming renewal opportunities and proactively initiate notification workflows
🔀Automate the renewal: by using predefined rules, minimizing manual intervention and risks. Previously identifying common patterns: based on historical data, customers, strategy
🔔 Automated Alerts: set up automated alerts via Action Flow to trigger reminders for upcoming optional renewals without an active notice based on predefined timelines. Decision-making in advance. Filters for critical ones, more value, timelines…
📋Escalation Procedures: establish escalation procedures within the notification system to ensure timely action is taken. Automated escalation workflows can escalate unresolved issues to higher-level stakeholders or trigger follow-up actions to address the root cause of the problem.
3. Accounting reconciliation. Identify unbalacements on the Clearing Accounts and Landlord Late Payments
⚠ Challenges & Risks
Late payments
Discrepancies between accounting records.
Manual effort in identifying root causes of discrepancies
Delays in resolving the reconciliation issues
Non-compliance with accounting standards and regulatory requirements
Operational inefficiencies
Manual efforts increase resources
✅ Direct benefits With RE-FX Celonis App
🔔Automated Alerts: set up automated alerts via Action Flow to trigger those contracts which due date has passed causing a delay in the payments. Decision-making in advanced oFilters for critical ones, timelines.
📋Escalation Procedures: establish escalation procedures within the notification system to ensure timely action is taken. Automated escalation workflows can escalate unresolved issues to higher-level stakeholders or trigger follow-up actions to address the root cause of the problem.
🕓 Real-time monitoring: track the status of all your contracts and identify vendors' late payments immediately. By selecting filters you can prioritize in the most urgent ones based on company, value, and timelines.
Managing real estate assets using SAP RE-FX presents several complex challenges. Process Mining will help you address the challenges in finance processes by providing insights, transparency, and data-driven solutions. The main KPIs will be distributed in three main Business Objectives: Increase Labor productivity, Working Capital Optimization, and Legal and Financial Risk Mitigation.