Centerstone Software's Lease Management Capabilities Result in Major Customer Wins.Business/Technology Editors WESTWOOD, Mass.--(BUSINESS WIRE)--Nov. 4, 2002 Harvard Pilgrim, Analysis Group and JP Morgan Among the Companies Using e-Center One to Ensure that Critical Lease Deadlines are Met Centerstone Software, Inc., a pioneer in Workplace Resource Management, today announced that it is building significant traction for the lease management capabilities offered through its e-Center One collaborative product suite for workplace managers and executives. Harvard Pilgrim Health Care, Analysis Group, JP Morgan, and several other high-profile customers purchased e-Center One's Workplace LM(TM) (Lease Management) module in the last quarter specifically because of its ability to effectively and efficiently manage the entire lease process and to ensure that critical lease deadlines are met. "Missing a lease deadline can have a devastating dev·as·tate tr.v. dev·as·tat·ed, dev·as·tat·ing, dev·as·tates 1. To lay waste; destroy. 2. To overwhelm; confound; stun: was devastated by the rude remark. impact on an organization from both a financial and logistical standpoint," said Kevin Cunningham, Lease Manager for Harvard Pilgrim Health Care, the oldest nonprofit A corporation or an association that conducts business for the benefit of the general public without shareholders and without a profit motive. Nonprofits are also called not-for-profit corporations. Nonprofit corporations are created according to state law. , managed health-care organization in New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. . The company is using e-Center One to manage over a dozen leases across three states. "With e-Center One, we are notified well in advance of any lease due to expire and can obtain an accurate, real-time view of how efficiently we are using our space. This allows us to extend our leases in a timely manner if it's in our best interest, so that we continue to receive the best possible rate per square foot. It also allows us to make sound decisions on where we can consolidate if renewing is not the best approach." e-Center One is a Web-based solution that ties together multiple databases and software products throughout the workplace, providing a holistic view of an organization's real estate, facilities, space, personnel, leases, operations, life safety and asset information for decision-making, strategic analysis and scenario planning Scenario planning or Scenario thinking is a strategic planning method that some organizations use to make flexible long-term plans. It is in large part an adaptation and generalization of classic methods used by military intelligence. . In order to implement the Workplace LM module, Centerstone Software first extracts key information from original leasing documents, including rental amount, lease term, square footage, effective date, termination date termination date, n See expiration date. , and payment terms, and enters the data as well as the original lease documents directly into e-Center One. Customers can then accurately plan, track, manage, maintain and update all aspects of their lease portfolio. Benefits include the ability to: -- Ensure that critical lease deadlines and payments are met -- Generate automated email notification and alerts of lease deadlines, payments and notices -- Link lease and sublease sublease n. the lease of all or a portion of premises by a tenant who has leased the premises from the owner. A sublease may be prohibited by the original lease, or require written permission from the owner. data and clauses to corporate space and asset information -- Analyze lease obligations and cash flow by tracking lease payments and sublease receipts -- Provide shared and secure access of lease data and documents to internal personnel and external real estate vendors "Companies that miss lease deadlines face serious and devastating consequences, including the possibility of losing high-profile locations that drive a majority of their business," said Matthew Meyer, founder and chief strategy officer for Centerstone Software, referring to a recent published incident in which a high-profile department store lost a plush Boston location due to missing an exercise date on a renewal option. "Until now, companies have had no simple way to identify which leases are due to expire so that they could act on them in a timely manner. With e-Center One, companies are able to effortlessly ef·fort·less adj. Calling for, requiring, or showing little or no effort. See Synonyms at easy. ef  fort·less·ly adv. integrate lease data with other key
data, such as space and financial information, allowing them to more
effectively and efficiently manage their business."
About Centerstone Centerstone Software offers an integrated Internet hosted model delivering a complete offering of Workplace Resource Management capabilities. Centerstone's flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. , eCenter One(R), is the industry's first integrated Internet solution that provides a secure, centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. platform for workplace information. With e-Center One, corporate managers and service vendors gain real-time access to a full range of critical workplace resource data, including floorplans, real estate portfolios, equipment locations, lease information, life-safety, operations management Operations management is an area of business that is concerned with the production of goods and services, and involves the responsibility of ensuring that business operations are efficient and effective. , evacuation information, personnel locations and more. Centerstone's extensive client roster includes PeopleSoft, GENUiTY, GE Plastics, Digitas, FleetBoston Financial FleetBoston Financial was a Boston, Massachusetts-based bank created in 1999 by the merger of Fleet Financial Group and BankBoston. In 2004 it merged with Bank of America; all of its banks and branches were given the Bank of America logo. and Pearson Education Pearson Education is an international publisher of textbooks and other educational material, such as multimedia learning tools. Pearson Education is part of Pearson PLC. It is headquartered in Upper Saddle River, New Jersey. . Founded in 1999, Centerstone is located in Westwood, Mass. Visit Centerstone on the Web at www.centerstonesoft.com. |
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