September 27, 2010
Real Estate Software expert and Lucernex East Coast Sales Manager Robert Abdul, discusses the choices companies have when looking to upgrade or replace their legacy lease administration products.
What is your strategy to address the costs of upgrading your client server lease administration software? Most lease administration software customers feel trapped by their software vendor but there ARE options.
The market has changed
As market dynamics have changed in the IWMS space, private equity investors have entered the market with purchase of some big name companies. The companies they take over care only about increasing recurring revenue. Private equity companies measure their success by uplifting their EBITDA. They do this by increasing customer maintenance fees every year. (more…)
Tags: legacy lease administration, lucernex vs Accruent, upgrading Accruent, upgrading REM, upgrading RetaiLease, upgrading Siteseer, upgrading SLIM, upgrading SLM :: 1 Comment »
September 23, 2010
IWMS expert and Lucernex President, Joe Valeri (see Joe’s management summary here), discusses why internally developed real estate software is no longer financially feasible.
We recently attempted to sell our applications to a very large retail chain which ended with them deciding that their “IT department had looked at everything out there and they decided to build it in-house instead.”
While it has become far less common, there remain corporate, retail and healthcare companies that still go down the road of building their own real estate management software. In the current economy, with the number of low-cost and low-risk software options out there today, I can’t imagine how a valid financial argument can be made to justify the internal short and long-term cost of an internally developed application.
(more…)
Tags: financial feasibility of in house development, in-house real estate software development, real estate software :: No Comments »
September 20, 2010
Lucernex expert Jim Duport discusses the proposed FASB GAAP lease accounting changes.
So, the GAAP rules for lease accounting are changing with the dual goals of increased transparency and full disclosure. Don’t panic yet. There are still a number of unanswered questions. FASB (the Financial Accounting Standards Board) released a DRAFT on August 17, 2010 with a request for comments by December 15, 2010. The implementation date has not even been set. I have heard dates ranging from 2012 through 2015.
(more…)
Tags: FASB GAAP Lease Accounting, FASB Lease Accounting, FASB lease changes, GAAP Changes :: 5 Comments »
September 7, 2010
IWMS expert and Lucernex President, Joe Valeri (see Joe’s management summary here), discusses use of third party software licenses in IWMS.
So here is one of the dirty little secrets of all software vendors including almost all IWMS vendors. Has this happened to you? Your company begins a product selection and ask for preliminary pricing from vendors to make sure they are in the ballpark. They provide informal pricing. You pick your finalists and send out the RFP. When you look at the pricing provided in the RFP you notice the pricing they provided is shown but there is also a list of required third party licenses; often not including the prices of those licenses (which probably makes you think they are negligible).
(more…)
Tags: IWMS, IWMS selection, IWMS vendor comparison, Third party software :: No Comments »