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Work Flow also works well with multi-step, ‘staged functions’,
such as lease negotiation, consummation and abstracting.

Similarly, it excels at ‘lifecycle’ tasks, such as: 1) budget forma-
tion and iteration; 2) CAM expense reconciliation on a quarterly
and annual basis (a true scourge of the retail shopping center
business); 3) inventory tracking; 4) tenant interviews; and 5)
managing the overall tenant, vendor, property and portfolio
relationship.

Work Flow delivers a systems-based approach in that it dictates
that these activities be instrumented as rules-driven tasks. Once
instrumented, these tasks can then be proactively managed. In
terms of transparency and security: A) workflows can be tracked;
B) users can be throttled based upon role, access level, and appli-
cable property set; and C) steps and paths can be audited both in
real time and retroactively.

Best of all, once implemented, the ROI of embracing Real
Estate Intelligence is stunning, and nothing falls through the
cracks. What is peace of mind worth, anyway?

Mark Sigal is the Managing Director of BrightStreet
Ventures and Chief Product Officer of Datex Property
Solutions. He is a five-time entrepreneur, with exits to Apple,
IBM and Intel, a deep real estate background, and a track
record of consistent success working with global brands such as
Disney, Macmillan, Ford, UPS and Cisco.

This means that the reporting process can be automated.
Reports can be enhanced with formatting, pictures and graphs.
They can be extended via adjunct data sources, executive sum-
maries and inline comments. Then, the finished product can be
exportable to a PDF or Spreadsheet.

In the big picture, let’s look at what the first two cornerstones of
Real Estate Intelligence have provided us. They’ve given us a ‘dumb
simple’ dashboard for quickly and easily slicing and dicing through
the key performance indicators (KPIs) that drive the business.

Because of the way these KPIs are warehoused, we can deal
with data as easily as we can deal with documents. We can
read and write data from multiple data sources, including
spreadsheets, accounting, payables and property manage-
ment software.

We can funnel that information into a number of different
report types, which can be shaped into recurring Report Books
for internal managers, clients and investors.

In short, we can be smarter, and get smarter, about our business.

Work Flow Intelligence
Work Flow Intelligence is the last piece, and it builds on a
heretofore-invisible element known as workflow. Workflows
are the business rules behind the many recurring processes of
property managers, accountants, executives and leasing agents.

Work Flow Intelligence is about systematizing, and then
automating, recurring processes. This includes ‘alerts and tracking’
activities, such as delinquency tracking, work order tracking,
insurance tracking and retail sales tracking.

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