Verdantix Highlights Accruent’s Path to IWMS Powerhouse
In August 2017, Accruent, a provider of real estate, facilities and asset management software solutions, announced that it acquired Lucernex, an integrated workplace management system (IWMS) software vendor offering a third-party verified FASB/IASB compliant lease accounting solution.
Verdantix, an independent research and consulting firm focusing on business operations optimization, issued the white paper, “Accruent Takes Aim at Becoming an IWMS Powerhouse Following Lucernex Acquisition.” The white paper highlights the long-term integration plans that Accruent has in store.
The report examines Accruent’s history of software acquisitions and its go-forward product integration strategy. With this strategy, Accruent looks to ensure clients are offered best-of-breed solutions across the IWMS spectrum on a unified platform.
With the acquisition, Accruent continues its streak of acquiring specialized real estate and facilities management software companies, adding more strategic advances to its software lineup, such as:
- Strengthened lease accounting software functionality – As a leading IWMS vendor, Lucernex had made strong traction with retail and retail-like companies holding thousands of equipment and real estate leases.
- Retail-specific real estate software functionality – Capabilities such as market and site selection to identify high-potential sites for new stores and functionality to manage projects that involve multi-location store remodels and new construction, compressing cycle times and increasing revenue weeks.
- New and complementary client relationships in the retail sector – Lucernex added several client contracts to Accruent’s client base.
As the new FASB and IASB accounting standards are rapidly approaching, the Lucernex acquisition presents Accruent with significant new opportunities to serve as the leading IWMS vendor, ready to implement the upcoming lease accounting changes with ease.
With Lucernex’s impressive, standing client roster in retail, healthcare, telecommunications, entertainment and financial services industries, Accruent has the opportunity to provide a broad software platform and a significant capability for growth.