In need of reliable lease data, global reporting consistency and a concrete process to ensure timely rent payment, a telecommunications company recently selected Jones Lang LaSalle to provide lease administration services. Lease administration for the company’s 20-million-square-foot, 427-location-portfolio had previously been handled separately in each geographic region. <br><br>During the transition, each of the company’s leases was condensed into a format called an abstract, which contains only the most important information. All abstracts were uploaded onto web-based software. Accounting specialists ensure rents are paid on-time, and rent from sub-tenants is collected on-time. With Jones Lang LaSalle as its sole provider, the company now has constant access to all of its global lease information.<br><br>The entire global transition was completed within eight months. Within fifteen months, $2 million in savings had been identified. The company also had all of its global lease information organized and easy-to-reference in a single source.