Part 1: Leasing Software
Earlier posts focused on the best practices followed by ValuD during IBM TRIRIGA application upgrades. In this blog series, we highlight the best practices that ValuD advocates for an IBM TRIRIGA 10.5.3 leasing software implementation…
Part 2: Data Readiness
Our earlier blog focused on the key learning from ValuD’s 10.5.3 implementations. In the next couple of blogs, we list our recommendations for each stage of the implementation life cycle. In this post, we focus on data readiness, data migration, and the design phases…
Part 3: Journal Entries Setup
Continuing with our recommendations for each stage of the implementation life cycle, today we focus on the build process and general ledger (journal entry) integration steps…
Part 4: Testing & Training
In our final blog of this series, we list our recommendations for the last two phases of the implementation life cycle: TRIRIGA testing and training…
[Admin: This post is related to the 01.10.18 post, 08.07.17 post, and 09.24.15 post about the best practices for configuring and upgrading TRIRIGA applications. To see other related posts, use the Best Practices tag or Implementation tag.]
Part 1: Introduction
With 150+ IBM TRIRIGA completed projects across the globe, ValuD has the largest and most experienced team focused exclusively on IBM TRIRIGA. ValuD offers a variety of delivery models to meet our clients’ needs to ensure customer success whether for a new implementation or an upgrade. In the first of a four-part series, we share our best practices for TRIRIGA application upgrades…
Part 2: Lease Accounting
In our earlier post, we shared best practices followed by ValuD during IBM TRIRIGA upgrades. In this post, we highlight the best practices for IBM TRIRIGA 10.5.3 upgrades especially related to FASB/IASB lease accounting standards…
Part 3: Modifications & Metadata
Our earlier posts focused on IBM TRIRIGA application upgrade steps adopted by ValuD. In this post, we share best practices following the actual upgrade process…
Part 4: Record Data
In our last and final post on this series, we talk about record data tips and IBM TRIRIGA application upgrade delivery best practices that ValuD recommends…
[Admin: This post is related to the 08.07.17 post and 09.24.15 post about the best practices for configuring and upgrading TRIRIGA applications. To see other related posts, use the Best Practices tag or Object Label tag.]
There’s an old metaphor originating from Plato that compares the soul to that of a chariot with a pair of winged horses. Chariots of the gods were equipped with two good horses, while us mere mortals were given one good horse and one bad, unruly horse, depicting the conflicts of the soul. Due to this imbalance, we would always face hardships. But those of us who could put that unruliness to use could potentially rise high enough to hang with the gods.
What does this have to do with IBM TRIRIGA and hanging out at TRIMAX this week? Not a whole lot, I just like to throw out fascinating metaphors. However, if you’re looking to power up your facilities “chariot” with the fiercest of good stallions, and corral the unruliness of unused data, you may want to read on.
The five fierce stallions of 2017
When it comes to fierce stallions, why have 2 when you can have 5? And when you’re talking about investments around TRIRIGA, the more the merrier. Here are the top 5 stallions driving the chariot of your facilities management efforts this year:
- 1. New lease accounting standards drive compliance domination…
- 2. Analytics help you understand the performance of your chariot…
- 3. Cloud isn’t just for mythical gods…
- 4. Mobility enables the business to soar from anywhere…
- 5. User experience (UX) drives Herculean engagement…
[Admin: What does TRIRIGA mean? A tririga (trī-ˈrē-gə) is a team of three horses yoked three abreast, commonly associated with the use of chariots during the Roman Empire. To see other related posts, use the TRIMAX tag.]
This is my building’s final offer
One day in the not-too-distant future, when a building manager and tenant sit down to haggle over the terms of a new lease, the building itself — not the manager — will hold most of the cards in the negotiation. The manager may have an idea about how much a tenant uses a building’s facilities. The tenant will have another. But the building — and the constellation of data that surrounds every aspect of its operation — will know the real truth and set the terms…
Designing buildings that learn
Our buildings are snapshots of our ideas and culture, physical representations frozen in place and time. The Empire State Building, the Roman Forum or even the Los Angeles Forum, were designed and built to serve a purpose, a population or a team of the moment. But things change. Economies shift and empires fall — yet our buildings don’t make those transitions. We tear them down because they can’t adjust to new energy requirements or new ways of working. At least, until now…
Creating a building’s “digital twin”
Buildings have long functioned a bit like our bodies. Plumbing circulates through the building walls, wires innervate every room while concrete and I-beams underpin the whole frame. But until recently these indispensable bedrocks of the modern world have lacked the most critical body part — a brain. Without one, humans have had to manage the lights, power and temperature; service the elevators and other equipment; monitor security cameras; keep rooms stocked with supplies. Powerful new cognitive abilities are emerging from the massive data flows…
[Admin: This post is related to the 06.30.16 post by Chris O’Connor about putting the human touch into buildings, and the 08.20.15 post about creating a connected 11-storey building in 4 hours. To see other related posts, use the IoT tag or Smart Buildings tag.]
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, the 07.28.16 post about mobilizing IBM TRIRIGA, and the 11.15.17 post by IBM IoT about TRIMAX. To see other related posts, use the ValuD tag or MobilD tag.]
Tailored Brands, Inc., a recognized leader in men’s tailored apparel operating over 1,400 locations in the U.S. and Canada, has selected Tango’s Strategic Store Lifecycle Management Solution to facilitate all aspects of their real estate strategy and store development activities needed to support growth of the company’s iconic brands, including Men’s Wearhouse, Jos. A. Bank, Joseph Abboud, Moores Clothing for Men and K&G. Tailored Brands has licensed Tango’s Market Planning & Site Selection, Program & Project Management, Lease Administration and Facilities Maintenance products…
An important consideration for Tailored Brands was ensuring compliance with the new lease standards put forth by FASB. Tango’s lease accounting software is unique in the marketplace, in that unlike other solutions that will require retrofitting to ensure compliance, Tango’s lease accounting functionality was developed with compliance as part of the foundation…
[Admin: To see other related posts, use the Tango 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 running TRIRIGA 10.5.2 and 18.104.22.168. Some of our lease records are getting stuck in “Processing” status after we try to activate the record. Since it is processing, we have no buttons at the top to Revise, Save, etc. This only happens sometimes, and only to lease records that have payment schedules. From the looks of it, all the payment line items do get created. A couple questions:
- (1) Is there a fix to this to keep it from happening again?
- (2) Can these records that are stuck in processing be pushed to active or do they have to be re-entered?
I was actually able to apply a workflow fix provided by IBM so that this will not happen going forward. So far, it has been working as planned…
With regards to getting the leases “unstuck”, I created an editable query, imported the State Transition Actions (on the Advanced tab in the query form), and ran the report to select and process the “stuck” leases. This worked with no issues and I did not have to delete or retire the leases. They were functioning properly after getting them out of the “Processing” state.
[Admin: This post is related to the 01.12.16 post about records getting stuck. To see other related posts, use the Performance tag or Workflow tag.]
I have come across numerous TRIRIGA clients who run their monthly lease accounting payment schedules as one single synchronous task in TRIRIGA. Often, this slows down the response times and overall environment performance considerably. Here are some simple steps to consider as recommended better/best practices for your lease accounting payment schedule run as follows:
- 1. Break up processing payments into batches that fit well with your business organizations or perhaps geographical regions.
- 2. Each of these batches can be filtered when selecting the leases to process payments for and/or before Get Payments.
Note: This will limit the number of records to process, and the load that is put on the system, and possibly, make it easier to validate payments…
[Admin: To see other related posts, use the Accounting tag or Payments tag.]