[Translation of press release in Japanese]
Works Applications Co., Ltd. (Headquarters: Minato-ku, Tokyo; Representative Director, Chief Executive Officer: Masayuki Makino; hereinafter “WAP”) today announced the purchase of “AI WORKS Real Estate” and other four products by Nomura Real Estate Development Co., Ltd. (Headquarters: Shinjyuku-ku, Tokyo; President and Representative Director: Seiichi Miyajima; hereinafter "Nomura Real Estate Development") as its real estate leasing system for the four group companies.
Nomura Real Estate Development is a leading developer founded in 1957 with continuing growth. Specializing in residential development business with integrated system of construction, sales, and management, the company has expanded its business areas to include development of office buildings, commercial and logistics facilities, lease housing, and even hotel development and overseas business in recent years. In addition, it promotes complex, large-scale development work including Shibaura 1chome Redevelopment certified as National Strategic Special Zone.
The company launched a renovation project of its leasing operation system (hereinafter “this project”) with three of its major group companies*, aiming to achieve profit growth in leasing business which are both identified as the key strategy in the Mid- to Long-term business plan, and to enhance coodination of corporate group companies.
*Nomura Real Estate Partners Co., Ltd., NREG TOSHIBA BUILDING Co., Ltd., and Geo Akamatsu Co., Ltd.
Promote group-wide work style innovation by pursuing improved operational efficiency and productivity
Nomura Real Estate Development has investigated the problems in the back office operations of leasing business and examined what an ideal system would be for about one year in this project. The company has then adopted the policy that contributes to work style innovation through “improvement of the routine work efficiency” and “shift of its focus to value-added work“ in profit management, and decided to employ the new group-wide integrated system, with an outlook for centralized operations in the future. Nomura Real Estate Development selected “AI WORKS“ for the following advantages.
1. “AI WORKS” provides rich assortment of standard features that keep collecting operational know-how of large enterprises to facilitate standardization of operations
“AI WORKS” integrates generalized operational requirements from all industries and business types to offer them as standard features including unique operations that fit to real estate management; such as covering operational requirements from contract management, accounting process that including billing and payment, and profit management. By taking advantage of the extensive array of standard features built on the operational processes and know-how of more than 1,300 large corporate groups, the company can standardize and streamline its operations to fit the work to the system. Moreover, “AI WORKS” supports continuous improvement in operations and efficiency after service launch by providing free upgrades to accommodate changes in operational requirements in and outside the company associated with expected increase in complexity of contract types and property management due to the changing real estate demands in the future.
2. Integrated management and automation of corporate group operations maximize efficiency and heighten the added value
With WAP’s affluent track record of success in implementation of “shared infrastructure”, AI WORKS enables integrated management of operations of each group company, paving the way to the shared service in the future. Also, “AI WORKS” supports instant visualization and analysis of real estate profit/budget information across group companies, allowing more effective strategic planning. Moreover, as the AI which drives “AI WORKS” keeps learning the business operations, it promotes improved productivity of each employee through automatic execution of repetitive operations or accumulation and effective use of know-how.
WAP will continue to support profit growth of Nomura Real Estate Development that makes the most of its group solidarity by offering “AI WORKS,” to help shift customer’s man hours spared by centralization and automation of existing operations to high-value-added operations that directly contribute to sales.
About “AI WORKS Real Estate”, integrated real estate management system
1. Standard support for a variety of complicated management types
A single package of “AI WORKS” can handle various kinds of real estate including office buildings, commercial facilities, logistics facilities, composite facilities and more. It promotes cooperation between departments or groups for optimized efficiency in operations, as it covers all types of operations related to real estate management including management schemes of unit ownership and owning of equity by multiple owners, as well as management by owners, asset managers, and property managers.
2. Support agile improvement of profitability based on the estimated/actual balance information
“AI WORKS” automatically tracks estimated and actual balance information and enables its users to drill down into detailed information. It also provides materials to help strategic investment decision by showing future prediction or estimated data with flexible approaches based on the accumulated information specific to, for instance, each building or area.
3. Cover every operation from contract management to accounting process such as billing and payment
“AI WORKS” also provides accounting process capabilities as standard features, so as the contract information is input, “AI WORKS” automatically generates journals and accounting information such as advanced revenues data and rent revenue data in consideration of free-rent contract. It eliminates duplicated operations and prevents operational errors in data integration with the accounting system.
“AI WORKS”, AI-infused enterprise software solution
“AI WORKS” is an AI-infused enterprise software solution with combines operational functions fit for enterprises with productivity tools and advanced AI technologies. Grounded in our unique business model, “AI WORKS” was developed and shaped with operational know-how accumulated from 1,300 large group companies during the past 20 years. WAP has been incorporating the functional requirements of a wide range of industries and business customs to create standardized and Out of the Box functions. Now our clients no longer struggle with the implementation and maintenance of complicated customisations regardless of how complicated their business processes may be. “AI WORKS” learns and analyzes a huge amount of operational log data generated from daily operations with AI (machine learning), and helps each company's business transforming their operations by offering every employee a personal assistant.