Conferences and trade shows provide a great way to learn and discover industry trends in a short period of time. Please consider attending TRIMAX this year…
What is TRIMAX?
TRIMAX is an annual conference which provides a forum for participants to share knowledge and learn from other TRIRIGA and Maximo clients, business partners and IBM leaders. If you are a RE/FM/EAM business, then TRIMAX is the event for you. This year’s event is being held at Arlington, VA on November 29th and 30th with an optional training day on December 1st. More than 600 participants are expected to attend the various presentations and sessions.
Why attend TRIMAX?
IBM TRIRIGA and IBM Maximo are leaders in asset management and IWMS application software and TRIMAX is the only user group with a combined focus for both. Naturally, such a focused user group can give you insights on product updates, solution road maps, and industry best practices…
ValuD and TRIMAX
With the largest and most experienced group of TRIRIGA consultants in the world, ValuD has been an active participant of TRIMAX since its inception. This year, our sessions will showcase MobilD, our mobility solution built exclusively for TRIRIGA…
- “TRIRIGA Mobility Solution (MobilD) Tailored to Drive Work Efficiency – A User Perspective” | Speaker: Kiel Schmitz, ValuD | Wednesday, Nov. 29, 2017, 1:10 PM – 2:00 PM
- “New Capabilities of TRIRIGA FASB/IASB & Advanced Lease Accounting” | Speaker: Kirk Howcroft, ValuD | Friday, Dec. 1, 2017, 8AM – 3PM
[Admin: This post is related to the 07.18.17 post about ValuD at TRIMAX 2017, and the 07.28.16 post about mobilizing IBM TRIRIGA. To see other related posts, use the ValuD tag or MobilD tag.]
Webinar: Thursday, September 14, 2017, 12:00 PM – 1:00 PM Eastern Time
Join ValuD’s Lease Accounting expert team in their Sept 14th webcast for “Best Practices of Implementing TRIRIGA for FASB Compliance” and get prepared to meet your FASB compliance deadline. Register here.
[Admin: The same announcement is also posted in the LinkedIn group. To see other related posts, use the ValuD tag or FASB tag.]
I’m Tony Bailey, Senior VP of Real Estate, Facilities, Design, Construction, TPO, Physical Security teams at Umpqua Bank… As a first time presenter at TRIMAX – the combined TRIRIGA and Maximo User Group conference – I am excited to be able to meet with other companies that are at various stages in their path towards transforming both their facilities and their employee experiences using IBM TRIRIGA and Internet of Things (IoT) capabilities…
As we continue to expand our business, we will also leverage this knowledge as we deploy the Capital Planning capabilities in TRIRIGA. The lease administration capabilities are helping to streamline operations around construction procurement. For example, we are working on deploying a new e-invoicing capability that will automate many of time-intensive processes that consumed a lot of valuable resource from our business…
At TRIMAX in November, I will be sharing more details about Umpqua Bank’s project road map and lessons learned. I will be speaking about how we are incorporating IoT technologies to support our “branch of the future” vision, discussing in depth our plans to develop a dynamic floor plan – complete with traffic sensors and asset management to optimize our model – in an effort to drive just-in-time maintenance to help control costs.
I hope you are attending TRIMAX this November and I look forward to meeting you there to continue sharing best practices about our facilities management strategy.
[Admin: To see other related posts, use the Umpqua Bank tag or TRIMAX tag.]
We are using TRIRIGA 3.5.2. We are currently experiencing an issue with lease document attachments. When one user uploads a document that has the same name to two different lease records, the document record is overwritten.
The issue stems from the fact that the upload functionality defaults the path to \ROOT\Object Attachments\[Employee Name]\triRealEstateContract\[File Name]. There is a folder ID parameter in the action URL, but it doesn’t seem to work. Is there a way for TRIRIGA to create a folder based on the current record ID instead of the BO name?
[Admin: To see other related posts, use the Document Manager tag.]
When an “Operating” lease is modified, the new ROU asset balance should be calculated as the amount of change in the liability balance that is added to (or subtracted from) the prior period ROU asset balance immediately preceding the modification. Previously, this was tested on 5/18 for any lease and then still worked appropriately. As of 6/13, this no longer works.
Moving forward, the starting ROU asset value is now calculated correctly when there is an amendment to an “Operating” lease. The changes were made to the following workflows: “triContract – Subflow – Likely Term – Calculate Amend Asset Value” and “triRealEstateContract – Synchronous – triRevise”.
[Admin: To see other related posts, use the ROU tag or Right of Use tag.]
Without a proper contract management repository, you and your organisation are at high risk and not in control of supplier obligations, associated costs, and contract terminations or regulatory compliance. A structured contract registration allows you to proactively manage suppliers, validate contract-related cost and performance, ensures timely contract cancellation or change, and delivers valuable information to improve contracting policies.
Setting up your contract management repository starts with an inventory of contract categories such as activity-based contracts, performance contracts or framework agreements and the contract applications such as maintenance, services, procurement, lease or any other. For any contract, you have to collect, register and maintain a set of basic data, such as:
- Internal information such as contract owner, department and cost centre.
- Supplier information such as company details, address and contact person.
- Contract status information such as active, in negotiation, for approval, or terminated.
- Date information such as start date, notice, end date or cancellation options.
- Asset reference, linking the contract to one or multiple assets in your asset repository.
On top of the basic data, the contract category determines the next level of contract data and information. For an activity-based maintenance contract, you have to register information about:
- The individual activities that are contracted.
- The timing and eventual frequency of the activities.
- The associated budget for the contract or fixed cost per activity.
As performance contracting is a completely different concept for outsourcing maintenance, the performance contract includes different types of data and information, such as:
- Performance definition in terms of availability and quality of assets.
- Detailed service levels, times to start and times to complete.
- Performance measurement methods, supplier bonus or penalty agreements, and billing parameters…
[Admin: To see other related posts, use the Planon tag or Contracts tag.]
Are you getting ready to address the implications of the new lease accounting changes with TRIRIGA? Although FASB’s ASC 842 and IASB’s IFRS 16 will take effect in 2019, many organizations are only now beginning to realize the amount of effort required to meet the new standards…
The biggest changes to businesses will be the new Right of Use (ROU) Assets and Lease Liabilities that will hit balance sheets, as well as the intensely manual approaches and effort that many see before them. How many organizations are leveraging Integrated Workplace Management Systems (IWMS) to manage their real-estate holdings and automate these manual efforts?…
In order to help organizations comply with the new standards, and understand the implications of these changes, TRIRIGA continues to deliver a single integrated workplace management system with new enhancements in the next release. TRIRIGA supports the lifecycle of facilities management and will automate compliance activities to address changes that affect multiple teams and roles.
Here’s how TRIRIGA can help:
- CFO and CAO: The release of IBM TRIRIGA 10.5.3 will provide a sub-ledger system for real estate and asset lease accounting that is able to generate journal entries out-of-the-box for ASC 840 and ASC 842 under US-GAAP as well as for IAS 17 and IFRS 16. It also covers period closings and report generation for the most common reports required under the new standards.
- Real Estate and Fixed Asset Managers: The release of IBM TRIRIGA 10.5.3 separates the duties of a lease administrator and a lease accountant, allowing the lease administrator to enter contractual information, and then enabling the lease accountant to run classification tests, reassess lease decisions, and report on the ROU Asset and Lease Liability.
- Facility Management, and Occupants: There are also new capabilities to improve day-to-day and occupancy experience. They can leverage a new Workplace Services offering that engages everyday employees through new mobile web apps that provide access to services managed by IBM TRIRIGA, anywhere, and on any device. This includes: a new Service Request app to submit work requests, a new Reservation app to quickly create reservations for individual workspaces or multi-attendee meeting rooms, and a new location-aware Workplace Services Portal to provide a single, unified access point for launching the apps and tracking status of requests…
[Admin: To see other related posts, use the FASB tag or IFRS tag.]