Accruent, the leading provider of Enterprise Location Management (ELM) solutions, announced today that ten percent of its market-leading retail customer base has now switched to its next generation solution, Accruent Lease Administration 8 (LA8).
Drawing on more than 15 years of experience as the leader in retail leasing solutions, LA8 represents the "best of the best" of Accruent's previous solutions and has been enhanced through the careful analysis of the needs of hundreds of leading retail clients and their best practices. Significantly, it also has been built to provide peace of mind to retailers and corporations concerned about the upcoming lease accounting changes, with key functionality including, but not limited to:
- A robust financial engine that manages core financial data for the generation, management, and reporting of current FASB Lease Standards
- The development of capital schedules and the ability to flag which terms are to be included with the capital schedule
- The calculation of the NPV of any capital or operating lease
- The ability to separate lease v. non-lease expenses
"Chico's FAS, Inc. upgraded to Accruent's Lease Administration 8 because Accruent's solutions provide us with comprehensive real estate and construction management system solutions, and Accruent drives value to our organization by creating one source of 'location truth' thereby eliminating duplicate entries and processes," said Jeff Gaul, Vice President - Real Estate, Chico's FAS, Inc.
Highlights of Accruent LA8 include:
- Web-based, anytime-anywhere access to key lease information
- Industry-leading lease accounting functionality, including the ability to generate and manage capital schedules
- Plug-in access to Accruent's unrivaled end-to-end real estate performance management solution when you are ready
- And average ROI of 850% for retail customers!
"Accruent is committed to delivering the highest value return of any application that our customers can implement," said Mark Friedman, CEO of Accruent. "LA8 is a leading example of creating value for customers and providing peace of mind that they will be compliant with the industry standard for leasing solutions."