By breaking down silos and providing visibility to real estate and facilities management teams, retailers can avoid work order delays, reduce repair turnaround times, and improve the customer experience.
Traditionally, a retailer’s organizational structure forces real estate and facilities management teams into silos. These silos can cause data gaps in process and operations that affect customers at the store level through delays in work order routing, and poor access to the data that drives tenant and landlord decision making.
Real estate and facilities teams tend to focus on the different aspects of the buildings and assets that they manage, with the respective scopes and visions of these two teams limiting their interactions. A byproduct of these silos is that work order responsibilities can become blurred, with tenants compelled to delay work orders to ensure that the correct party executes the work order, or take the budget hit themselves to ensure the work is done quickly. Lease administrators may also negotiate leases without factoring in key maintenance issues that impact maintenance schedules and cost per site.
For example, facilities teams may not know the details of a lease agreement signed by the real estate team. This lack of information can lead to additional costs by burdening the facilities team with work orders that are actually the responsibility of the landlord, causing additional disruptions and delays for customers. This lack of visibility can leave the tenant with the bill, taking away valuable assets and time that could be spent on customers.
Accruent aims to break down these silos by integrating our retail-based Computerized Maintenance Management System (CMMS) with our lease administration and accounting solution. This integration offers enhanced visibility to data, such as lease obligations, to help retailers reduce unnecessary spend and improve the time to fix work orders to ensure each store is running optimally for customers.
Avoid Overspending and Reduce Customer Inconvenience
Accruent clients reported spending thousands of dollars a year on maintenance work that was actually the responsibility of the landlord. These unnecessary costs can be avoided with immediate access to the most up-to-date lease terms and conditions for facilities. In addition, the time to fix these work orders is prolonged if the tenant is trying to determine where to send the work orders, further inconveniencing their customers.
With the new integration between our top retail CMMS, vx Maintain, and our market-leading Lucernex lease administration and accounting solution, we can help retailers take full advantage of their lease agreements by helping them:
- Avoid overspending on repairs.
- Identify work order responsibility.
- Take quick action to make the necessary repairs.
- Route work efficiently so work orders are not left open.
- Reduce time to complete a work order.
When companies are overseeing hundreds, or even thousands, of locations, they need to know who is responsible for what work on buildings, facilities, and assets in order to route that work quickly. By integrating Accruent’s CMMS solution with the lease administration and accounting solution, companies can take advantage of the integration’s multiple benefits.
1. Contract Responsibilities
Sharing contract responsibilities between Lucernex Lease Administration and Accounting and vx Maintain allows retailers to avoid unnecessary maintenance costs and maintenance delays on work orders where the responsibility lies with the landlord, not the tenant. The integration also allows users to view summarized facilities management clauses in their leases through vx Maintain and check contract details directly in Lucernex if additional information is needed.
2. Location and Asset Sync
Duplicating data entry can be a pain and can even jeopardize the accuracy of data. Real estate and facilities management teams should not have to perform data entry in separate applications. With Accruent’s integration, if a user updates location or asset data, it is synced within both of our applications so both teams can work with up-to-date data and prevent information loss. These functions are performed while keeping responsibilities for real estate and equipment lease agreements current in both places.
3. Availability of Capital Project information
To avoid costly maintenance on sites with active or planned capital projects, facilities teams must have key insights into:
- Where the capital projects are taking place.
- If certain maintenance projects can roll into the capital project cost rather than the regular maintenance budget.
With these project details available in both platforms, organizations can avoid significant miscommunications between teams.
4. Availability of Work Order Trends During Lease Negotiations
When entering into a lease negotiation, the lease administration team needs key information about the state of the facility and the costs the facility is incurring in order to make good negotiations for rent at that site and the various clauses to reduce costs The team must be able to acess the number and value of facility issues quickly and determine how this information should shape the terms of the lease for that site.
The availability of this information increases an organization’s ability to best negotiate leases in the organization's favor, protect profit, and ensure that sites continue to align with business goals.
5. Capabilities Across Platforms
Accruent now offers the ability to navigate easily between platforms to get more details, from work order history to lease contracts. With this capability, organizations can conduct a deep-dive to find information rather than logging into different platforms to see key details such as lease responsibilities, general lease information, or capital project summaries.
By integrating our CMMS for retail organizations with our lease administration and accounting solution, Accruent can help companies break down silos, improve interdepartmental communication, and achieve greater organizational efficiency by giving retailers the information they need to improve the customer experience.