Streamlining laborintensive processes with simplified lease administration
Company Size
1,000+
Region
- America
Country
- Canada
Product
- IBM TRIRIGA
Tech Stack
- Workflow Automation
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Productivity Improvements
Technology Category
- Platform as a Service (PaaS) - Application Development Platforms
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
Use Cases
- Leasing Finance Automation
Services
- Cloud Planning, Design & Implementation Services
About The Customer
Headquartered in Toronto, Canada, the Toronto-Dominion Bank (TD) offers a comprehensive range of financial products and services to approximately 24 million customers. The company employs more than 85,000 people in offices around the world. As part of its real-estate business, TD manages leases for thousands of properties. A substantial proportion of these are ‘income leases,’ which are for properties that have been sublet to other companies. Growth sparked a rise in the number of income leases that TD managed. TD had to find a more efficient way of working—or face a hike in costs.
The Challenge
Toronto-Dominion Bank (TD) manages leases for thousands of properties, a substantial proportion of which are 'income leases' for properties that have been sublet to other companies. With the growth of the bank, the number of income leases that TD managed increased. The bank had to find a more efficient way of working or face a rise in costs. The bank decided to automate the management of its income leases using IBM® TRIRIGA®, a solution designed to help companies streamline lease administration. IBM hosts the solution in one of its data centers, and supports the test, development and production environments.
The Solution
TD decided to automate the management of its income leases using IBM® TRIRIGA®, a solution designed to help companies streamline lease administration. IBM hosts the solution in one of its data centers, and supports the test, development and production environments. In TRIRIGA, TD established standardized, automated workflows for each task involved in lease management, ensuring that the correct process is always followed first time. The IBM lease administration solution has simplified business processes for TD’s lease and tax team. Workflow automation has eliminated time-consuming manual activities and reduced dependencies on spreadsheets and other manual tracking tools.
Operational Impact
Quantitative Benefit
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