Stellent Announces a Content Management Solution For the Commercial Real Estate Industry

June 5, 2003
Stellent Commercial Real Estate Solution enables property owners, operators and developers to more effectively access and share critical business content

Stellent(TM), Inc. (Nasdaq:STEL), a global provider of content management solutions, announced today at the Realcomm 2003 event in Chicago, Ill. a content and document management solution designed specifically for the commercial real estate industry. The Stellent Commercial Real Estate Solution provides paper-intensive real estate companies and corporations with internal property management needs with a hosted, Web-based application for more effectively sharing and accessing critical business documents such as leases, amendments and architectural drawings.

"The commercial real estate business inherently requires the creation and distribution of large amounts of information, including tenant, property and portfolio content," said Jim Pierre, executive vice president and director of asset management for Shorenstein Co. LLC, one of the country's largest and oldest real estate organizations. "Manually organizing and sharing these documents quickly causes problems, such as employees spending too much time on non-revenue generating tasks; slow distribution of documents; and multiple parties being unable to access information simultaneously. Our Stellent implementation enabled us to rapidly tackle these crucial business challenges. The system was up and running in a very short time and utilizes real estate-specific terminology, processes and workflow, which promotes fast user adoption among our employees and the third parties with which we work."

The Stellent Commercial Real Estate Solution is an online document management service that enables customers to securely store all business documents where they can be managed, accessed and shared by employees, partners and external third parties via the Web whenever and wherever they are needed. By bringing this business information to the Web, Stellent enables companies to:

-- More quickly drive revenue by streamlining the acquisition, financing, re-financing, leasing, build-out, management and disposition of properties and assets.

-- Control and often reduce staffing and administrative costs by allowing employees to spend more time on tasks that generate business results without adding overhead. Additionally, the Stellent system enables companies to more easily outsource specific business functions.

-- Increase service and satisfaction with vendors, tenants, attorneys and partners by providing them easy, shared access to documents.

"The Stellent system gives us all of the real estate-specific functionality we need without capital expenditures on our end," said Teresa Hanson, director for Argent Real Estate Services, Inc., a Miami-based real estate management and dispositions company. "Since Stellent hosts and maintains the system, we only pay a set fee each month, which allows us to focus on our business development."

"We utilized our experience with customers such as Argent Real Estate, CB Richard Ellis, Grubb & Ellis, HCPI, NVM, Shorenstein and Trizec to develop a solution tailored to the unique content and document management needs of the commercial real estate industry," said Robert Olson, president and chief executive officer for Stellent. "Our Commercial Real Estate Solution helps companies increase revenue and reduce costs by being more productive with the information they deal with on a daily basis, which often results in a quantifiable return on investment within three months of a Stellent implementation. In addition, the solution is delivered as a managed, outsourced service that Stellent hosts, maintains and upgrades for a predictable monthly fee, eliminating the need for customers to worry about hardware, software, network infrastructure or IT support related to this application."

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