TRIRIGA First to Incorporate OSCRE Standard to Drive Leaner Real Estate Asset Management

LAS VEGAS—(BUSINESS WIRE)—February 9, 2009— TRIRIGA®, the leading provider of real estate asset lifecycle management software, today announced it is the first software vendor to incorporate the OSCRE (Open Standards Consortium for Real Estate) Lease Abstract Exchange standard into an IWMS (Integrated Workplace Management Software) product. By supporting the OSCRE standard, TRIRIGA helps organizations increase operational efficiency during a time when smart asset management matters most. TRIRIGA worked closely with General Electric Company (GE) and Jackson Cross Partners on the integration design process delivered today.

The OSCRE Lease Abstract Exchange standard provides a common language and framework for exchanging lease abstract data so that organizations can execute the process efficiently and accurately, thus saving time and money. Lease abstraction, the summarization of a commercial lease, involves the aggregation of information from several versions of hard and electronic documents and databases, and it requires multiple hand-offs, reviews and approvals. Without the OSCRE standard, this process is not only time consuming, but is much more likely to lead to errors that affect legal matters such as compliance reporting and billing.

“It’s our mission to constantly innovate and incorporate the newest technology standards available so that we deliver the best possible products to our customers and our integration with the OSCRE standard supports that goal,” said George Ahn, president and CEO of TRIRIGA. “Cutting-edge innovation is what helps our customers adopt leaner, more effective real estate processes during tough economic times.”

TRIRIGA customers David Kontra, manager of Real Estate Operations for GE, and Louis Battagliese, Jr., a founding partner at Jackson Cross Partners, helped with the OSCRE integration design process. The result is an enhanced version of TRIRIGA Real Estate that includes pre-built business processes and pre-defined XML document exchange in accordance with the OSCRE standard, which allows customers to publish or receive lease abstract data from any compliant system.

“OSCRE’s primary goal is to help business organizations operate their real estate portfolios more efficiently and transparently. By incorporating our Lease Abstract Exchange standard, TRIRIGA is helping achieve that goal,” said Andy Fuhrman, CEO of Open Standards Consortium for Real Estate (OSCRE). “Now more than ever, companies need to leverage technology and streamlined business processes to optimize available resources. TRIRIGA delivers that lean approach to the lease abstraction process, raising the bar for technology innovation in the industry.”

About TRIRIGA

Recognized by leading industry analysts as the best-in-class solution, TRIRIGA provides the industry’s most extensive functionality in a fully integrated IWMS solution including real estate management, project management, facility management, operations management, workplace performance management and environmental sustainability for real estate assets. TRIRIGA’s extensible technology provides customers with unmatched business agility to rapidly configure and reconfigure the application based on customers’ changing needs. TRIRIGA’s environmental sustainability offering, TREES, is the only solution available today to help companies measure, manage and reduce the carbon footprint of their buildings. With an outstanding network of consultants, partners, industry experts, and market-leading customers, TRIRIGA delivers exceptional service and proven best practices to over one-third of the Fortune 100 today.

For more information, contact TRIRIGA at (702) 932-4444, or visit www.tririga.com.

TRIRIGA, WPM, TREES and TRIRIGA’s other marks and product names are trademarks or registered trademarks of TRIRIGA in the United States and other countries.



Contact:

Susan Wise for TRIRIGA
650-646-3268 x11
Email Contact




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