Transforming the complexity of corporate systems into a Property Asset Management tool

Lappeenrannan Yritystila Oy is a real estate development company owned by the City of Lappeenranta. The company builds, owns, manages and sells industrial and commercial premises in order to support small businesses. Lappeenrannan Yritystila Oy has approximately 77 500 m2 of premises in about 60 properties located in different areas of the city. The key objective of Lappeenrannan Yritystila Oy, roughly translated to Lappeenranta Business Facilities, is to help companies, which locate in the city or in the nearby area, find the right premises for their business.

Lappeenrannan Yritystila Oy wanted a scalable Property Asset Management solution, that could be used in various devices and which would make it easier to really spot the critical points in the property portfolio. There was a need to discover the matters that needed the most attention.

“We didn’t receive actual reports, concerning the financial key figures and property data, from the accounting systems that were built to serve large municipalities. Neither did the company that was responsible for the IT-services in the City of Lappeenranta have a chance to separately produce and develop such tools. Looking at this basis, it was clear that we were going to buy the solution from the outside”, Timo Hämäläinen, CEO of Lappeenrannan Yritystilat Oy, describes.

In Lappeenrannan Yritystila Oy, Assetti has been used as a “property data bank”, where you can easily enter the basic property-specific information as well as review lease agreements. The information concerning rental agreements can be now found neatly in Assetti, as opposed to the earlier situation, where the essential information had to be checked from printed contracts.

“With the help of Assetti, unifying and combining the information has improved the data’s accessibility and validity. In the past, numbers were typed in Excel spreadsheets by several different users. Now, when the numbers can be fetched straight from Assetti, the chance of making mistakes has decreased and in turn, the efficiency of working has increased”, Jani Paappanen, Technical Property Manager at Lappeenrannan Yritystila Oy, says. “A particularly good aspect in the software is the ability to compare properties”, adds Timo Hämäläinen. The company has been pleased with the cooperation of the solution’s provider and wishes it to be active also in the future.