An SAP^® implementation at record speed – talyo. Property Services GmbH takes off

Talyo is a fast-rising, modern company. In fact, the company was founded only in 2020 by Tattersall Lorenz Immobilienmanagement GmbH. Tattersall Lorenz is a commercial property management company operating throughout Germany and was repeatedly asked by clients to take on residential property customers as well. The company therefore decided to establish Talyo as a subsidiary in the field of residential property management to meet these customer needs. Their primary goal in founding the subsidiary was to start production immediately with a forward-looking and efficient approach. For this reason, they opted for an SAP^® system right from the start. Martin Henke, Managing Director of Talyo, believes this was a wise decision: “After only a short time, we were able to map our business workflows via the latest SAP^® software and administer all the properties we had already acquired via the ERP system.” Now they already manage over 7,800 flats and 4,100 micro units. The company, which focuses on property management, has an extensive portfolio of different types of use, including classic living, student accommodation and micro living in Germany.

For the implementation, they chose PROMOS as their partner and source of support. “Since PROMOS is quite well-known as a software specialist in the real estate industry, it was an easy and a sound choice for us,” says Henke. The practical implementation of the system began in mid-September 2020. By the end of the year, the basic functions of the SAP^® software were fully integrated, all data was transferred and Talyo was able to put the software into operation.

What was done?

A pre-packaged system was installed, with all the essential factors needed to manage properties and work effectively. “As the most important functions were already pre-configured, many time-consuming measures could be eliminated. There was no having to work out conditions or attend time-consuming workshops. This approach worked very well and met with great satisfaction among everyone involved. Therefore, we will definitely offer it to other customers who have similar needs,” is how PROMOS project manager Volker Schwarz sums up the project. Payment transactions and defect reports are now automated and digitally processed via the SAP^® system. Three important aspects that were at the forefront of the implementation were setting up the SAP^® modules FI and RE-FX as well as transferring all operating data to the new system.

FI accounting

The FI module is very well-known and is one of the oldest SAP modules. The establishment of SAP^® FI enabled Talyo to manage all workflows related to accounting digitally. This includes general ledger and sub-ledger accounting as well as accounts receivable and accounts payable. Receipts are entered in the corresponding accounts and profits are thus determined directly – for external purposes, such as for the tax office, as well as for internal purposes, i.e. company management. Precise evaluations are essential for transparency towards investors, especially for real estate managers like Talyo. With SAP^® FI, Talyo can now retrieve reports on payment flows at any time with little effort.

Contract accounting

The industry-specific SAP RE-FX module is an optimal solution for real estate companies to manage large portfolios efficiently and transparently. With this software, Talyo can book and monitor payment flows and benefit from the “two-view model”. Firstly, they can see the architecture of the buildings they manage; secondly, they can call up data on the use of the property in another view, including conditions, contract terms and contract partners. They can view reports on the property portfolio at any time and manage all documents relating to their properties digitally. Contract and administration management is part of this and includes the digital administration of tenancies. It enables Talyo to record all contract components, such as termination and extension options, as well as payment arrangements.

Data import

Data had to be imported from various previous systems – and at exactly the right time. Company code systems, accounting entities, buildings, rental objects and contracts – all this data had to be migrated into the new system so that Talyo could start its operation productively and trouble-free right from the outset. In this context, it is not only important to import data without errors, but also to migrate all data quickly and comprehensively. “The data transfer proceeded very quickly and smoothly during the introduction of the SAP^® system – which was also a major factor in ensuring that the system could be implemented so swiftly”, concludes Schwarz, looking back with satisfaction.

Where did this dynamism come from?

For PROMOS project manager Volker Schwarz, there is a clear answer to this question: “On the one hand, the collaboration with the competent, dynamic employees of Talyo was very pleasant and productive. On the other hand, we simply have a brilliant team here at PROMOS, consisting of both younger and older people who complement each other excellently. Some have over 20 years of experience and are absolute experts in the field of SAP^®, while others are relatively new and bring a breath of fresh air and innovative ideas to the group. Together they were able to do the work highly efficiently and thus incredibly quickly. Any minor problems that arose were resolved in no time at all. The open communication of both companies and the quick responsiveness of our team were a great advantage here. We look forward to further collaboration and exciting new projects with Talyo.”