The GPT Group is one of Australia’s largest diversified property groups and a top 50 ASX listed company. They own and manage over $25 billion in retail, office and logistics property assets across Australia.
When the COVID-19 lockdowns were initiated in Australia, the Federal Government mandated rent relief for commercial and retail properties. As one of Australia’s largest owner/managers of retail, office and industrial property, GPT Operations needed to renegotiate over 3,000 contracts in under 30 days. They faced a business-critical operations problem that needed an automated solution – and fast.
The PhoenixDX Solution
PhoenixDX worked closely with GPT to create a new module that automated the renegotiation process and addressed fraud risk, a complex workflow, legal compliance and new commercial rules. The algorithm for the negotiation needed to synthesize the type of business, the COVID-19 impact, the customer’s historical data and size.
The first version of the new app was released in two weeks and was evolved for another two months with new releases fortnightly. As a result of PhoenixDX’s experience, consultation with GPT and the flexibility of the OutSystems platform, the renegotiation process was handled smoothly, delivering a result that worked for GPT and its customers and ensured compliance with the Government’s emergency legislation.