SAP RE-FX
SAP Real Estate Management (SAP RE-FX) Solution Overview
SAP Real Estate Management (SAP RE-FX) is designed for large, multi-division companies and retail chains that share properties (land, buildings, etc.) and non-property assets (rail cars, equipment, vehicles, etc.) leased to tenants and utilized by those companies. SAP RE-FX aids in asset management from financial (viability review), technical (inspections), plant maintenance, project portfolio management, budgeting, and sales (lease contract clearance) perspectives. It optimizes operations and enhances cost control.
SAP RE-FX Real Estate Management Solution Providers
Our experience includes approximately 20 successful implementations, development projects, and SAP RE-FX integrations for various industries, including production companies, shopping centers, mining services, investment banking, real estate, financial services (ATMs), telecom, and government enterprises in Singapore and abroad.
Benefits of Using SAP RE-FX
Cost Reduction:
Reduces administrative and accounting costs related to property and non-property management through ERP integration, document management solutions, and service provider relations.
Database Consistency:
Ensures a single, consistent database that provides reliable information about property performance, including cost vs. income analysis and investment profitability reviews.
Time-Saving and Simplicity:
Provides access to best business practices in property and non-property management, leveraging international implementation experience.
Better Process Lifecycle Management:
Streamlines property/non-property lifecycle management and facilitates seamless knowledge transfer to new employees.
Enhanced Property Management:
Offers a comprehensive view of the property management process, covering investment planning, implementation monitoring, space management, contracts, taxation, maintenance, administration, and reporting.
Improved Data Reporting:
Provides an all-inclusive tool for real estate data control and reporting while ensuring compliance with company policies.
SAP RE-FX as a Proven Solution for IFRS 16 Leasing
The SAP Flexible Real Estate module (SAP RE-FX) is available in both SAP ECC and SAP S/4HANA (on-premise and cloud). This module requires the Business Partners functionality for recording leasing contracts, a standard feature in S/4HANA across all modules.
Depending on the timeline of your SAP S/4HANA strategy, SAP RE-FX can be implemented in your current SAP ECC system. It is S/4HANA-compatible and can easily be migrated to your future SAP S/4HANA system. If you are already migrating to S/4HANA, implementing SAP RE-FX can be the next step in your transition roadmap.
Frequently Asked Questions
What is SAP RE-FX?
SAP RE-FX (Real Estate Flexible Management) is an SAP ERP module that simplifies real estate asset management, including lease handling, property management, and space planning. It optimizes operations, enhances cost control, and provides valuable insights for strategic real estate decisions.
Tecxed explains SAP RE-FX in a broader context, covering not only real estate properties but also equipment within building assets, such as elevators, fire alarms, and telecommunications (TELCO) equipment in residential condominiums.
What is SAP Real Estate?
SAP Real Estate is a robust software solution for managing lease agreements, property portfolios, and space optimization. Integrated into the SAP RE-FX module, it streamlines financial processes and enables data-driven decision-making, ensuring optimal asset utilization and performance.
How to Renew a Contract in SAP RE-FX?
- Access the Contract: Open the existing contract in the SAP RE-FX system.
- Review Contract Details: Ensure all necessary information is up-to-date.
- Initiate Renewal: Start the renewal process by selecting the appropriate option.
- Update Terms: Modify lease duration, rental rates, and other relevant details.
- Save Changes: Update contract details and generate necessary documents.
- Obtain Approvals: Secure approvals from relevant stakeholders.
- Communicate Terms: Notify involved parties of the new contract terms.
- Update Status: Change the contract status to reflect the renewal.
- Adjust Financial Entries: Make necessary financial adjustments per IFRS (International Financial Reporting Standards).
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