WebCenter Customer Spotlight: Regency Centers Corporation
- by me
Author: Peter Reiser - Social Business Evangelist, Oracle WebCenter
Solution SummaryRegency Centers Corporation, based in Jacksonville, FL, is a leading national owner, operator, and
developer of grocery-anchored and community shopping centers.
Regency grew rapidly over much of the last decade. To keep up with the
monthly and yearly administrative processes required to manage thousands
of tenants, including reconciling yearly pass-through expenses, the customer upgraded to Oracle’s JD Edwards EnterpriseOne Version 9.0 and deployed Oracle WebCenter Imaging, Process Management and
Oracle BI Publisher, to streamline invoice processing and reporting.
Using Oracle WebCenter Imaging - Regency accelerated and improved vendor invoice accuracy which increases process integrity by identifying potential
duplicate bills while enabling rapid approval of electronic invoice
documents.
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 DeployedRecency 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
"We have realized numerous efficiencies with Oracle’s JD Edwards
EnterpriseOne 9.0, particularly around tenant billings. It accelerates
our year-end expense reconciliation process and enables us to create and
process billings more quickly.”
James Chiang, Vice President of Real
Estate Accounting Regency Centers Corporation
Additional Information
Regency Centers Corporation Customer Snapshot
Oracle WebCenter Imaging
JD Edwards EnterpriseOne Financials 9.0
JD Edwards EnterpriseOne Project Costing
JD Edwards EnterpiseOne Real Estate Management
Oracle Business Intelligence Publisher
Oracle Essbase
