Principal Capital Management of Des Moines, IA selected Intuit Real Estate Solutions' (IRES) property and asset management software suite to enhance their ability to effectively manage their portfolio.

"We performed an extensive review of the IRES asset management and general ledger systems before selecting this powerful solution," says Steve Pick, Chief Financial Officer for the Real Estate Group of Principal Capital Management.

"IRES already has a strong presence with a large portion of our third party fee managers, and we were impressed with IRES' strong asset management capabilities, such as the Enterprise Ledger corporate consolidated and portfolio accounting solution," he added.

Enterprise Ledger is designed to manage complex inter-entity ownership structures, and supports joint ventures, fund management and portfolio-level reporting.

Principal Capital Management also made the strategic decision to work with IRES to implement a centralized database.

"Even though the database will reside with us, our property managers will have full capabilities to input data to the database and generate and print reports and queries locally at their site for the assets they manage," says Pick.

"Having both the property manager and Principal Capital Management on the same system should create major efficiencies and provide benefits to everyone involved," he continues. "The centralized database in combination with IRES' robust asset management capabilities will further enhance our ability to proactively manage assets."

"Communications between property managers and Principal Capital Management staff should be greatly enhanced by this architecture, since each will have access to the same data on a real-time basis. In addition, manual processing and redundant data entry should be greatly reduced."

About Principal Capital Management

Principal Capital Management is a member company of the Principal Financial Group specializing in investment management and advisory services for institutional clients.