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Midland Red Oak Signs Up for Web-Base Accounting, Tracking

MIDLAND, TX-Deloitte & Touche lands an outsourcing contract for accounting and information technology for about 3.7 million sf of Midland Red Oak Realty's portfolio. The portfolio is 77% retail and 23% office.

By Tim Green | Updated on March 15, 2002

MIDLAND, TX-Regional commercial real estate firm Midland Red Oak Realty Inc. has agreed to outsource many accounting and information technology functions to Chicago-based Deloitte & Touche LLP. Deloitte & Touche is to integrate different systems and make them accessible to Midland Red Oak via the World Wide Web.

The tasks consolidated by Deloitte are primary accounting functions such as accounts payable, reporting and job cost accounting as well as tenant administration, including billing and cash receivable management. The outsourcing is to allow Midland Red Oak to integrate all of its financial operations and make it easier to check portfolio information and performance indicators.

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