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Stellent's SmartCabinet Real Estate Solution Increases Operating Efficiencies and Reduces Costs
Stellent, Inc. (Nasdaq:STEL), a global provider of content management solutions, announced today that Shorenstein Company, one of the largest private owners and operators of high-quality office buildings in the United States, is increasing operating efficiencies and reducing costs using Stellent(R) SmartCabinet, a solution designed specifically for the corporate and commercial real estate industry. Shorenstein also recently signed a three-year contract renewal for the Web hosting of Stellent SmartCabinet.
The Stellent SmartCabinet technology enables Shorenstein to manage thousands of real estate documents, such as lease agreements and asset reports, on the Web, allowing authorized employees and external parties, including attorneys, architects and lenders, to efficiently access, share and collaborate using this information. By bringing its content to the Web, Shorenstein has improved many of its business processes, from asset management, leasing and legal services, to property acquisitions and dispositions.
"Stellent has helped us align our cost structure more closely with business cycles," said Jim Pierre, executive vice president, director of asset management for Shorenstein. "Because the solution enables us to efficiently and securely share information with external partners, we are able to effectively outsource our legal function and decrease our administrative staff."
SmartCabinet has enabled Shorenstein to accelerate cycle disposition times and enhance its leasing process. For example, before the Stellent implementation, Shorenstein manually distributed information packages to targeted buyers who spent large amounts of time verifying data in these packages. With Stellent, buyers can now quickly access documents on the Web rather than sifting through 50-page, hard-copy reports and, as a result, can complete property closings in a more timely fashion.
"Stellent SmartCabinet is not simply a Web-based library where our information is stored," said Natasha Tuck, program manager for Shorenstein. "Every document that resides in the Stellent system is a critically important piece of information as people rely on it to effectively conduct business. Because the solution can be delivered as a managed, outsourced service that Stellent hosts, maintains and upgrades for a predictable monthly fee, we receive full, on-demand access to real estate-specific functionality without the up-front, ongoing costs and risks of owning and implementing our own software."
"SmartCabinet enables property owners, operators and developers to more effectively access and share their critical business content," said Robert Olson, president and chief executive officer for Stellent. "The results of Shorenstein's Stellent implementation demonstrate how paper-intensive real estate companies can utilize our solution to bring a higher level of efficiency to business processes, which often results in significant return on investment."
A number of leading real estate companies use Stellent Universal Content Management solutions to efficiently access, share and manage critical business information. These organizations include Edina Realty, CB Richard Ellis, GMAC, Argent Real Estate, First Industrial Realty Trust, Grubb & Ellis, HCPI, NVM and Trizec.
To view an in-depth case study of the Stellent SmartCabinet implementation at Shorenstein, visit www.stellent.com/shorensteincs.
Stellent SmartCabinet Features
Stellent SmartCabinet provides paper-intensive real estate companies and corporations which have substantial property management departments with a customized, Web-based application for more effectively sharing and accessing critical business documents. The solution enables customers to securely store documents where they can be managed, accessed and shared by employees and partners via the Web whenever and wherever they are needed, helping them increase revenue, reduce costs and improve customer service and partner satisfaction by being more productive with the documents and information they utilize on a daily basis. For more information, visit www.stellent.com/realestate. 23.04.2004, Stellent
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