Company Overview
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. 

Business Challenges

• 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

Solution Deployed
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.

Business Results

• 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