Talia Fine VP Information Systems of Brookfield Properties Retail Group Myth Busting Tenants Pay Rent On Time Speaker Introductions About the Speaker Craig ONeill was appointed to the position of Chief Executive Officer at VersaPay Corporation in 2013 He has also been a Director on the c ID: 816295
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Presented by Craig O’Neill (CEO of VersaPay) and Talia Fine (VP, Information Systems of Brookfield Properties Retail Group)
Myth Busting: Tenants Pay Rent On Time
Slide2Speaker Introductions
Slide3About the Speaker
Craig O’Neill was appointed to the position of Chief Executive Officer at VersaPay Corporation in 2013. He has also been a Director on the company’s board since 2013. He has more than 22 years of experience delivering enterprise software. Prior to joining VersaPay, Craig was the co-founder and CEO of Xeye, where he directed the company’s growth of more than 40% per year and sale to Odyssey Financial Technologies, and ultimately to the Temenos Group, where he became SVP Strategy and Development. His background includes management of large development groups, designing and building foundational components of corporate system architectures and applications, overseeing enterprise CRM implementations and driving strategic business initiatives. Craig holds a B.Sc. from the University of Toronto in Computer Science and Mathematics.
Craig O’Neill
Chief Executive Officer and Director
Slide4About the Speaker
Talia Fine is Vice President, Information Systems at Brookfield Properties Retail (formerly Rouse Properties). Talia has been with Brookfield Properties Retail since 2014. As VP, Information Systems, Talia spent her time implementing and enhancing an application stack for her stakeholders. Her primary focus was around AP/AR, Lease Administration, Budgeting and Forecasting, and Content Collaboration. Prior to Brookfield Properties Retail, she worked at Brookfield Properties for 10 years where she served in various roles in the business and in IT. Talia holds a Bachelor of Administration degree from Rutgers University and an MBA from Fordham University. She is also a certified project management professional (PMP).
Talia Fine
VP, Information Systems
Slide5Agenda
Speaker Introductions
Technology is Changing our Business
How Brookfield Properties Retail Group Leveraged FinTech
Digital Transformation for your Tenants
Q&A
Slide6Technology is Changing our Business
Slide7Big 5 Tech Trends for 2018
Source:
Technology Vision 2018 Intelligent Enterprise Unleashed. Accenture. 2018
Slide8Technology is Changing How We Live and Work
84% of 6,381 business
and IT executives surveyed agree that through technology, companies are weaving themselves seamlessly into the fabric of how people live today
This level of integration is
next great social evolution (e.g. Amazon)Pioneering companies have recognized that these new societal expectations can be transformed into an
enterprise strength
Sources:
Technology Vision 2018 Intelligent Enterprise Unleashed. Accenture.
2018
Slide9Technology-Enabled Payments are on the Rise
of business respondents believe it is very likely their organizations will convert the majority of their payments to electronic within the next three years.
consider it important that faster payments are “smart” and are able to carry extensive remittance information.
70%
94%
44%
of typical organizations receive their B2B payments by check, compared to 50% in 2013 and 54% in 2010.
Source: Electronic Payments Survey. Association for Financial Professionals. September 2016.
Slide10Change Keeps Coming
“48% of CEOs expect major disruption in their sector from technological innovation within the next 3 years.”*
*Trusted analytics matter to CEOs. KPMG. August 4 2017
Slide11The Digital Transformation Race
“While it can be a challenge to run parallel processes to transform the digital and non-digital aspects of your business, long-term success depends on both.
Technology is not a ‘one-time’ event
and innovation never stops so companies that continually work to push the boundaries in these areas are poised to
lead the transformation race.”
Source: Canada’s Faith in Meaningful Tech Disruption Leads the World. Techvibes. 2018
Slide12CEOs are Focusing on Trends
What is the primary objective for investing in emerging technologies?
Improving bottom-line growth
Transforming the business and operating model
Getting closer to customers/improving customer engagement
Strengthening organizational resilience
70%
Increasing productivity
59%
52%
55%
53%
*Source: 2017 Global CEO Outlook. KPMG. 2017
*Source: 2017 Global CEO Outlook. KPMG. 2017
Slide13How Brookfield Properties Retail Group Leveraged FinTech
Slide14Portfolio
25M SQ FT
38 Shopping Centers
21 States
Tenant Mix
Perm
Local
Alt Revenue
AR Team
2 AR Managers
8 AR Specialists
2 Cash App Specialists
Challenges
Tenants in Default
On time payments
Brookfield Properties Retail Group
Slide15CRE Retail Overview
Slide16Previous AR Process & Challenges
Manual Processes
Collections
Reporting
Slide17The Search is On
Some of the following items were considered when evaluating vendors:
Slide18From Plan to Action
Slide19Moment of Truth
https://demo.versapay.com/
“For me VersaPay has helped with getting defaulted TT's to pay faster.” –AR
“I recently received your email regarding outstanding invoices. The online portal Brookfield Properties Retail has set up is AWESOME!” – Tenant
Slide20First 8 Weeks – By the Numbers
23
312
21
1,365
53
12
154
144K
$456K
34 vs. 74
88
*Numbers as of August 13, 2018
752
$164K
$293K
Slide21Current AR Process
Manual Processes
Collections
Reporting
Slide22Reporting
*Note that numbers for demo only and are not real data
Slide23Lessons Learned
Lessons Learned
Ask a lot of questions from Sales > Deployment > Training
Bank integrations take time
PCI Compliance is keyIndustry specific templates should be created with VersaPayAssemble a Project Team and don’t forget the Super Users Marketing is CrucialHow will the “new” AR team operate
Ensure credit card ability is turned on prior to going liveRoll out malls in wavesDaily and Weekly Reconciliations Enhancements Pending VersaPaySpanish translation complete Credits by division – targeted end of August
Prepayment by division - targeted August
Sales reporting - targeted August
Slide24Digital Transformation for your Tenants
Slide25Get Paid Faster, Make Tenants Happy
Slide26More than a Tenant Portal
1. Presentment
Publish invoices & supporting documentation online & deliver electronically
2. Collaboration
Communicate with customers
Track and manage customer commitments and follow-ups
3. Collections
Invoice related activity and payments recorded in one place, enabling visibility and automated follow-up
5. Cash Application
Payments made through ARC are automatically matched and reconciled with 100% accuracy
6. Automation, Insights, and Visibility
Snapshot of your enterprise’s analytics & customer behaviors
4. Payments
Offer customers breadth of electronic payment options PCI compliant manner
Slide27More than One Way to Engage
Slide28Q&A
Slide29Burning questions?
Ask away!
Slide30Come by
Booth 314
for more information about VersaPay
Visit our website:
www.versapay.com
Slide31Please complete a session evaluation
Session ID: 104000
Contact Info:
talia.fine@brookfieldpropertiesretail.com
Tel: 646.755.7102
craig.oneill@versapay.comTel: 866.999.VPAY(8729) ext. 1201
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