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QUINCY, Mass. -- Ahold-owned grocery chain Stop & Shop Supermarkets, Inc. and its wholly owned subsidiary Giant Foods said it tightened its Sarbanes-Oxley compliance and gained significant operational efficiencies using new property and lease administration software.
The retailer used new software from AMTdirect, a Charlotte, N.C.-based provider of real estate solutions to the corporate and commercial real estate industries. "AMTdirect has helped us become Sarbanes-Oxley compliant while simultaneously streamlining the operations of three different departments into one resource," said Paula Leaverton, manager of lease administration for Stop & Shop.
AMTdirect's hosted solution addresses problems caused by decentralized operating environments, cumbersome paper-based document management, inefficient lease abstraction processes, and limited lease reporting capabilities.
AMTdirect's Client Services Group abstracted Stop & Shop's leases over a six-month period. During this process, AMTdirect product managers and software developers worked with Stop & Shop, enabling them to use data from the lease abstracts to perform key functions with AMTdirect's accounting modules, including automation of the accounting processes and 13th Period functionality.