Lease Administration & Accounting with Lucernex
Accruent's intelligent software solution helps organizations manage complex real estate and equipment lease scenarios, mitigate risk, and achieve FASB and IASB compliance. Plus, it seamlessly integrates into your Enterprise Resource Planning Tools (ERP).
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Get FASB/IASB Compliant
Effectively Manage Real Estate and Equipment Leases
In today’s competitive world, companies that thrive take advantage of technology and find efficiencies to get to market faster and focus on the customer experience. All too often, lease administration and accounting can feel like a revolving door of paperwork, inefficiency and evolving standards.
Lucernex is a cloud-based software platform designed to streamline real estate and equipment leases. With Lucernex you can automate your lease administration and accounting for real estate and equipment, creating a data repository and a single source of truth. This provides transparency into your entire lease portfolio, allowing you to quickly calculate your lease and expense obligations, identify underperforming assets, take advantage of lease terms and conditions and ensure team efficiency through workflows, processes and approvals. Plus, Lucernex will help you meet the new financial reporting requirements under ASC 842 & IFRS 16 and stay compliant in the future.
Ensure You're Getting The Best Lease Terms
Due to the new accounting standards, organizations must include both lessee and lessor lease obligations of all real estate and equipment assets with lease terms of more than 12 months on their balance sheets.
Genesco implemented the Lucernex product suite to create a single information source, accessible across departments. The Company uses Lease Administration & Accounting capabilities to manage rent obligations and ensure FASB compliance for more than 3,500 real estate and equipment leases.