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Led by finance: Ian Mair, ACMA, CGMA, commercial finance director at real-estate business Grosvenor Britain & Ireland, reports on how he has been overseeing the implementation of a new budgeting, planning and property asset management system.

Document Cited in Related
Vincent
AuthorMair, Ian
PositionINFORM

THE CONTEXT Grosvenor has owned and managed London real estate, predominantly in Mayfair and Belgravia, for about 300 years. When I moved here in 2012 from Tesco, where I had worked for ii years, the company's property management systems had not been upgraded for two decades. I had a mandate to help deliver the improvements needed in this area.

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THE CHALLENGE My team was put in charge of implementing a system that would analyse the financials coming from the property portfolio, make forecasts and generate insights. This would enable the group to manage its estate in the capital more effectively and drive developments elsewhere in the UK. The project was to be delivered in two stages: upgrading the property management and accounting system, and then bringing a new analysis and forecasting system in on top of that to determine the main levers to pull in order to improve the performance of the business.

THE TEAM We engaged consultants from PwC to help with the first phase of implementation. For the second phase--an entirely internal affair--the project team I led comprised a tight-knit group of half a dozen people representing various areas of the business, including finance, asset management and development. This reported to the CFO and chief executive of Grosvenor Britain & Ireland, who in turn reported progress to the board.

THE PROCESS By April of this year the first...

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