Lease Abstraction & Data Migration to the Lucernex System
Reading Time: 2 minutes
Number of Stores: 2,381 US | 100 Canada | 352 UK
Industry: Retail, jewelry
As the world’s largest retailer of diamond jewelry, Signet Jewelers is positioned like no other to inspire love the world over. Signet operates approximately 2,800 stores primarily under the name brands of Kay Jewelers, Zales, Jared, Banter by Piercing Pagoda, Diamonds Direct, Blue Nile, JamesAllen.com, Rocks box, Peoples Jewellers, H. Samuel and Ernest Jones. Their operations and supply chain relationships span. Africa and India.
Objective
Signet Jewelers needed assistance to abstract approximately 2,400 leases as part of their migration to the Lucernex Lease Management software. The software implementation was still in progress when we initiated the abstraction. This resulted in multiple revisions to the abstraction template and the ETLs for upload.
Results
The Retransform team reviewed the client’s Lucernex ETL template to setup on RealEyes, Retransform’s proprietary Lease Abstraction portal. RealEyes was setup with Signet specific business rules, validations, definitions and quality control. After ensuring effective and accurate abstraction, RealEyes created pre-validated ETL that could easily be uploaded onto Lucernex.
During the process, the team conducted a data quality test for each ‘batch’ in Lucernex. The client’s real estate team as well as their accounting team provided positive feedback on the submitted abstracts. The customer lost significant time due to template revisions and implementation. Retransform activated it’s contingency staffing model, to augment the team and assist the customer to meet its planned project timeline.
Retransform team has been contracted to support on-going new lease abstracts and amendments.
Takeaways
"The Retransform team worked around the clock to make this happen; they did a wonderful job!" – Douglas Clark, Signet
Retransform customized their RealEyes portal for Signet Jewelers, incorporating tailored business rules, validations, and quality controls amid ongoing Lucernex software implementation challenges. They deployed a contingency staffing model to mitigate delays caused by template revisions, ensuring project timelines were met.
This success led to an ongoing partnership, with Retransform continuing to support Signet in new lease abstracts and amendments.
