Asia/Pacific
Colliers worked with Reuters in Asia/Pacific to improve the company's property decisions, standardize processes, and reduce overall occupancy costs.
In 2000, Colliers was invited to respond to a request for proposals to audit Reuters’ Asia Pacific portfolio. The RFP had two phases: the collection of leases and identification of potential cost savings, and the ongoing lease management and administration of their portfolio. Reuters’ regional portfolio comprises over 70 leased locations, totaling some 300,000 square meters in 19 Asia Pacific countries.
Historically, Reuters had always had a very decentralized approach to property decisions. However, with a change in management philosophy and a growing expenditure awareness within the company, the property group was tasked with improving property decisions, standardizing processes, and reducing overall occupancy costs. Colliers was required to abstract and post all documents on a web-based lease management and reporting system. In addition, Colliers established a local relationship with each business unit to initiate comprehensive property evaluations, space metrics standards, and a financial approval process. The data collection and initial report were to be completed within 60 days of the award of the contract and Colliers was expected to not only identify and realize savings opportunities wherever possible, but also to manage “day-to-day” transactions as required.
Colliers met all required deadlines for the collection and abstraction of 90% of the lease documents within 60 days. The lease information, as well as floor plans, location maps, and building details, were posted on REport (Colliers’ web-based lease management program) for access by all members of Reuters’ property group. A preliminary cost savings report was also generated, which identified approximately US$2.2 million in achievable savings across the portfolio. In addition, Colliers developed complete property evaluations, space metrics, financial approval processes, and a bi-annual financial report for Reuters. Colliers was subsequently awarded an exclusive, long-term portfolio administration and transaction management contract, which is ongoing today.
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