When Tesco looked for a system to help manage their £6 billion property portfolio they turned to a company with a reputation for providing reliable, fl exible and high quality solutions – Horizon.
Tesco currently manages a property portfolio with an approximate book value of £6 billion – and that doesn’t even include their various joint ventures.
With a portfolio of this scale, Tesco has had to put great emphasis on the properties, as they, like many other organisations, know that the intelligent management of their property assets can play a major strategic role in the success of the business.
In the past, property management had been seen as a drain on resources and a diversion from the organisation’s core business. As a result, it was often given a secondary role and became something to be administered rather than managed as a strategic tool. However, Tesco has recognised that in terms of overall cost to the business, property is second only to staff salaries. As such, management of their property portfolio receives everincreasing scrutiny at Board level and has meant that the Tesco property team need to ensure they have the right tools to manage and report on their portfolio as effi ciently and effectively as possible.
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