Calculating retailer's percent-of-sales rent payment for 1,000+ locations.

Company Profile

Specialty multi-brand footwear focused wholesaler and retailer with roughly 1,500 retail stores through the United States, Canada, the United Kingdom and the Republic of Ireland.

Scope Highlights

• WonderBotz ReportBotz+ prebuilt solution
• Lucernex lease admin and accounting system
• 1,000+ brick-and-mortar retail stores
• MS Excel
• RPA (robotic process automation)

Challenge

Retail real estate has unique lease concepts such as “Percentage Rent,” where tenants’ monthly rent includes a percentage of sales payment.  The lease management team verifies monthly percent rent payments for each location. This process involved retrieving sales information and rental agreements from their leasing admin portal, performing calculations and, entering the data onto the correct template, then submitting the output and system screenshots to auditors. The process was unnecessarily complex and required a dedicated team for one week each month. Client leaders wanted to streamline the process and reduce resource requirements.

Solution

We quickly deployed WonderBotz ReportBotz+ prebuilt solution, which retrieves all required sales and rental information from the database and employs user-managed business rules to select and complete the necessary work for each location. Instead of screenshots, the solution updates the location workbook with data retrieved directly from the database, using system logs as evidence. It performs calculations, updates the template, provides a link to the completed workbook, and alerts auditors to review any exception cases manually. And because ReportBotz+ does not use the UI, the process is completed much faster and not subject to rekeying errors.