NovoNordisk_CushmanWakefield_RPF_FINAL
Please describe how NN can rely on the information provided Lease and Market Reviews and Lease Abstracts, respectively (legally binding). Accurate Lease Abstraction To provide reassurance to clients that they can rely on lease summaries, Cushman & Wakefield’s lease abstraction process includes two levels of quality review, which results in industry leading data integrity levels. The first quality review encompasses a detailed review of the entire abstraction requirement, including spell-check and clause selection; an abstract quality review checklist is utilized to ensure the required data has been captured accurately and completely. The second quality review focuses on the accuracy and completeness of dates, dollars, and all critical data points. A quality review of the extracted information is performed for each new lease transaction and lease renewal going forward . The results of a quality review will assure BI that:
• All critical points in the lease have been examined • Abstracted information is complete and accurate • Base rent and all steps in rent have been captured • Detail of the comments under responsibilities and clauses are accurate without spelling errors • Options have been captured with accurate notice & effective dates
Achieve accuracy levels (99%), timeliness, and langauge coverage (66+ langagues)
Our Lease Abstraction team can provide English abstractions from 66 different languages and, thus far, has never had a situation where they could not perform abstractions in a requested language. Leveraging our strategic abstraction partner, Accenture, and our internal transition specialists, we draw on all available, best-in-class processes to help clients achieve the highest standards of collection, abstraction, and data input.
Accenture (Foreign Language Lease Abstraction) Accenture and Cushman & Wakefield have a global strategic lease abstraction partnership. This partnership enables us to offer our clients a scalable resource focused on excellence of lease abstraction methodology covering more than 66 languages with a capability to abstract more than 15,000 leases each year. This partnership transforms our capability to deliver multi-language lease abstractions with increased speed of delivery at less cost. Cushman & Wakefield will leverage our partnership with Accenture to deliver lease abstractions in a cost-effective manner. Accenture identifies the key data points in their native language and enters them, in English, into the system. This eliminates costs associated with full document translation. Furthermore, because Accenture is our preferred provider for abstractions, Cushman & Wakefield clients benefit from our high-volume abstraction rates. Partnering with Accenture allows for the highest levels of data accuracy, quickest turnaround times, unmatched language coverage, enhanced data security, and more.
Accenture has the following capabilities/ experience: • 12+ years of commercial real estate experience • 300+ lease administration specialists with an average tenure of 3+ years • Comprehensive understanding of commercial real estate portfolio management, end-to- end lease administration processes and major lease administration/property accounting systems • Access to regional market knowledge and language capabilities to support clients operating globally • Utilising a Six Sigma methodology in our "3-level review model" improves the accuracy of our client's lease data and reporting
Market Review To illustrate our commitment to NN, we have already analyzed a number of NN's larger sites in your portfolio pPlease see pages 34-53) and provided you with a Market Overview as per your requirements outlined in Annex C2, 1.3.1. The insights summarized in the Market Reviews are as a result of our local experts, research departments, and data analytics. While these wouldn’t ordinarily form part of a contractual relationship, these Market Reviews inform Cushman & Wakefield’s data-driven strategic advice to clients, so it is imperative that these are correct.
Novo Nordisk | Cushman & Wakefield
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