How do you use drawing labels for international measurements?


We manage properties globally so some of our locations are measured in Imperial and some are in Metric. What is the best way to manage this type of scenario so that our drawing and graphics section labels are not incorrectly sized when they are viewed from other global geographies?

The best way to address this situation is to have 2 sets of labels for your drawings, and 2 sets of labels for your TRIRIGA graphics section. You will need to adjust the height of the label elements to work for both situations. We are considering an enhancement to automatically scale according to the drawing units.

[Admin: To see other related posts, use the Graphics tag or the Labels tag.]

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RedSys solves CRE management issues effectively with IBM TRIRIGA


[Google Translated from Russian]

IT solves real estate management issues effectively

Business-IT integrator RedSys jointly with IBM held a seminar on the topic “Managing commercial real estate: Experience and prospects for implementing IT solutions.” The event was organized by the association of the real estate market REPA in the format “Development Environment”…

To participate in the first session, RedSys, Knight Frank, RD Management, IBM, etc. were invited to present their experience in applying IT solutions to optimize business processes in real estate…

Within the framework of the sessions, a discussion was held on the impact of IT solutions on risks and profitability in managing the real estate object. Artem Myasnikov, director of the center for industry and business solutions at RedSys, says: “To increase manageability, reduce risks and optimize costs, are allowed by comprehensive management tools using advanced technologies, such as IBM TRIRIGA“…

[Admin: This post is related to the 03.02.17 post about TRIRIGA and RedSys offering ERP for commercial real estate. To see other related posts, use the RedSys tag.]

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[Original Russian]

IT решает вопросы управления недвижимостью эффективно

бизнес-IT интегратор RedSys совместно с IBM провел семинар по теме «Управление коммерческой недвижимостью: опыт и перспективы внедрения IT-решений». Мероприятие организовано ассоциацией рынка недвижимости REPA в формате «Девелоперская среда»…

К участию в первой сессии были приглашены компании RedSys, Knight Frank, RD Management, IBM и др., дабы представить свой опыт применения IT-решений для оптимизации бизнес-процессов в сфере недвижимости…

В рамках сессий развернулась дискуссия на тему влияния IT-решений на риски и доходность при управлении объектом недвижимости. Как утверждает директор центра отраслевых и бизнес-решений RedSys Артем Мясников: «Повысить управляемость, снизить риски и оптимизировать затраты позволяют комплексные инструменты управления с применением передовых технологий, в частности таких как IBM Tririga»…

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Planon: Why should real estate and finance managers join forces?


There will be considerable change in lease accounting from 2019. That date will see new standards from the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) come into force. This also means that the roles of real estate and finance manager is also likely to change, as each will undoubtedly need the other to cope with the challenges of the new standards…

New tasks for the new standards

This will change a finance manager’s work. Leasing contracts, which previously might have been considered less important, will now play a larger role. That is because it’s no longer simply about what an organisation pays to a leasing company each month. The finance manager now has to incorporate on the balance sheet both the valuation of the liability and of the property. That presents quite a challenge. Whereas previously he could simply report on the costs of leasing contracts, now, to be compliant with the new standards, the finance manager must also report the value of these contracts as well as the underlying information.

On the other side of this is the real estate manager, and as 2019 looms, he also needs to give much more thought to the financial impact of leasing arrangements. No longer can he just mention the leasing costs of a set of premises, but rather, he must also state the impact of those costs on the profit and loss account and the balance sheet…

Collaboration is the key to success

In practice, real estate and finance are two separate worlds. Most real estate managers prefer not to immerse themselves in all the accounting rules. Finance, by contrast, has knowledge covering a whole gamut of legislation and regulations, of which real estate is only a small part. Having a “linking pin” would appear to be a way forward – someone who speaks the language of both the real estate and the finance manager. So it could be an interesting idea to hire someone with a completely new profile. Someone who knows about both real estate and finance…

[Admin: To see other related posts, use the Planon tag.]

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Planon: Lease accounting terms a real estate manager should know


From 1 January 2019, the new lease accounting regulations from the Financial Accounting Standards Board (FASB) and the International Accounting Standard Board (IASB) will need to be implemented in order to comply with the new standards, ASC 842 and IFRS 16 respectively. In this blog, I will share with you the important lease accounting changes and relevant terminology.

With effect from 1 January 2019, publicly listed companies will be required to include on their balance sheets all leasing contracts with a contract term longer than one year. This is a measure against an offensive strategy of sell-and-lease-back, also known as off-balance financing. It implies that organisations can free up financing, as leased properties – in contrast to owned properties – are not required to be included on the balance sheet. This strategy was used by many corporates during the 1990s and early 2000s. The key objective of the new standards are to enhance financial transparency in lease accounting administration

The Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB)… are convinced that actual lease liabilities should be reflected in a uniform way for readers of financial statements. Since 2006, FASB and IASB have been undertaking a review of their relevant lease-related chapters ASC 840 and IAS17 that cover lease accounting. By moving away from current accounting practice, financial transparency will be enhanced by showing off-balance lease financing, together with the related liabilities, on the balance sheet.

From 2019, the relevant compliance standards are ASC 842 (which replaces ASC 840) and IFRS 16 (which replaces IAS17). However, even though the new reporting requirements take effect from 2019, at that same time, organisations must comply retrospectively to ASC 842 and IFRS 16 for the years 2017 onwards. Therefore, it’s time to act now, as 2019 is fast approaching! In my next blog, I will elaborate on the steps that a Corporate Real Estate manager will have to take, working together with their CFO, in order to be ready in time for the new lease accounting regulations.

[Admin: This post is related to the 04.26.17 post by Planon about 3 steps to take to meet the 2019 deadline. To see other related posts, use the Planon tag.]

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Joining the IBM TRIRIGA UKI user group community (May 2017)


Meeting: Tuesday, May 9, 2017, 9:30 AM to 03:15 PM (London)

The next IBM TRIRIGA UK & Ireland (UKI) User Group meeting is coming up on Tuesday, May 9, 2017! Save the date with these agenda and registration links.

Once again, it will be at the IBM Southbank offices (although the User Group committee is hoping to spread their wings for the autumn meeting). In a big step forward, we will be joining up with our colleagues at the Maximo User Group for the keynote address. Bringing the two groups together will allow us to share a high-profile keynote speaker, and then break out into our own sessions for both TRIRIGA and Maximo. Of course, you then have a great opportunity to mingle with the Maximo delegates over coffee and lunch.

So, are you a TRIRIGA user or partner in the UK or Ireland? Not a member of the IBM TRIRIGA UKI User Group Community yet? It’s easy to join this great community here. Here are some of the benefits to joining the IBM TRIRIGA UKI User Group:

  • Access to the latest product information from IBM
  • Face-to-face user group meetings
  • Networking with like-minded professionals

The User Group committee will be trying something fresh, namely one breakout stream will be a Q&A around WebSphere. Designed more for technical support staff, this will be a chance to meet an expert and raise your questions in an informal environment. There will be a newsletter sent out soon. So, why not register now and get further details in the newsletter? We hope you will join this great community and hope to see you at the meeting in Southbank on May 9th!

[Admin: This post is related to the 11.08.16 post about the November 2016 meeting, and the 11.20.15 post about the December 2015 meeting, and the 02.06.15 post about exploring the TRIRIGA user group community.]

[Admin: The same article is also posted in the Asset Management blog.]

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Verdantix: Siemens trains the next generation of facility managers


The real estate industry has the perception of being a slow-moving adopter of emerging technology – across its lifecycle. Once building systems are installed, they are generally not upgraded or replaced until absolutely necessary because of the cost intensive nature the renovation work required.

Recently, however… increased use of technologies such as smart equipment and sensors and cloud-based software for energy, maintenance and space utilization management begs the question – How is the facility management industry to stay up to date and relevant in the era of smart buildings? There are three routes the industry needs to pursue to stay on top of new technologies.

  • The first is to use FM training programs, such as those offered through industry associations like the British Institute of Facilities Management or the International Facility Management Association…
  • Secondly, aspiring facility managers need to be trained on the use of new technologies from the start. Siemens is assisting the Tallahassee Community College (TCC) to design and equip a “Living Lab”…
  • Finally, firms may find it too cost intensive to continuously provide training on new technologies to staff – it may be more beneficial to consider contracting with specialist services providers, such as Siemens…

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PhotonStar to show new building management systems in Las Vegas


British designer and manufacturer of intelligent lighting and building control solutions, PhotonStar LED Group, announced on Monday that it was participating in the IBM InterConnect 2017 Cloud & Mobile Conference, between 19 and 23 March in Las Vegas. The AIM-traded firm also announced the commercial availability of the halcyon cloudBMS product from 1 April.

At IBM Interconnect 2017, the company said it would be presenting a talk outlining the key features of cloudBMS, a new cloud based solution that it said delivered an Internet of Things-based “building management system as a service” (BMSaaS). It said the new solution was built on the second generation of its low-cost retrofittable wireless monitoring and control platform, halcyonPRO2.

The new halcyonPRO2 added regulation of heating and cooling, shading and power management to the lighting control and environmental sensor network already in use in the first halcyon product. The cloudBMS, halcyonPRO2 and cloud-based analytics were combined to deliver a capable, scalable and secure “building management system as a service” (BMSaaS) solution, PhotonStar’s board explained, at a price point that would enable owners of small-to-medium-sized businesses to reduce energy and operating costs and realise new insights into their operations.

One of the key features of cloudBMS was the sharing of device data with asset management software packages such as IBM asset management packages TRIRIGA and Maximo, it added…

[Admin: This post is related to the 06.08.16 post about PhotonStar and machine-to-machine (M2M) technology, also known as the Internet of Things (IoT).]

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