Matt Giffune, Co-Founder, Andrew Flint, Co-Founder, Lauren Covell, VP of Finance
Founded by Matt Giffune and Andrew Flint, Occupier is driven by the synergy of its founder’s commercial real estate leasing and proptech experience and its executive team’s deep lease accounting and public accounting experience. The company enables organizations to manage their lease lifecycles in a collaborative and streamlined manner.
Real estate accounts for the third-largest stake—after human capital and payroll— in the total expenditure of most companies. And managing leases turns out to be a herculean affair for them. Many companies keep their lease documents and information (rent schedules, legal clauses, date notifications, etc.) in desktop folders, on paper, or spreadsheets, which makes tracking them very difficult. The real estate and the accounting team in a company are often ‘out of sync,’ with both groups resorting to different lease management tools/solutions that are always oriented towards one unit over the other. Consequently, lease lifecycle aspects like lease administration, rental payment tracking, financial reporting, to name a few, entail mistakes and duplication of work, which inevitably translates to wasted time, effort and money.
This is where Occupier can make all the difference with their eponymous platform solution that enables internal and external real estate stakeholders—such as brokers, architects, lawyers, tenant reps, and in-house real estate and accounting folks—to work in a streamlined and collaborative manner.
Companies get to navigate lease lifecycle processes in a cost- and time-efficient manner—all the way from the real estate team’s early stages of decision making on a commercial lease to the accounting team’s need to recognize the expenditures on their balance sheet to be compliant with ASC 842 and IFRS 16 mandates. They can also invite brokers into the platform to gain insights about their real estate’s market valuations, rent, floor plans, etc., and attain a better stance innegotiating with multiple landlords.
Occupier houses all real estate data in a structured, easily searchable, and filterable manner. “The main purpose of Occupier is to ensure that everyone inside and outside the organization that needs access to real estate information is working off one single source of truth,” says Giffune. For instance, once real estate leasing decisions are made via Occupier’s transaction management module, all the data is then updated in the lease administration and accounting database. The platform notifies users of any and all changes on the lease data. A user can read into it from the lease administration database and easily understand the various obligations on their current lease like critical dates (rent increase, renewal dates, etc.), lease clauses, financials, etc. and plan their budget accordingly. It automates the creation of financial statements and has powerful reporting capabilities. Occupier can also output journal entries, charter balances, disclosure reports in a format that accountants don’t need to manipulate before feeding them into their ERP software.
The main purpose of Occupier is to ensure that everyone inside and outside the organization that needs access to real estate information is working off one single source of truth
What differentiates Occupier from its competitors is the white-glove service it provides to the customers. It delivers a very accurate and rapid implementation where they can go live and derive value from the software within the first 60 days. It also provides them with 24x7 support. Owing to such a value proposition, the company was recently able to finalize a funding round of $10.5 million from OMERS Ventures and Stage 2 Capital.