IWMS expert and Lucernex President, Joe Valeri (see Joe’s management summary here), discusses the risks of upgrading your lease administration software.

Whether you have realized it or not, the “Y2K” of the lease administration market is upon us. When the new FASB guidelines get approved, virtually every company with lease administration software will now have legacy lease administration software that must be replaced. Most, if not all, of the products that have been out for more than a few years will either not be upgraded due to the age of the core technology or ownership changes or will be replaced by their vendor eventually with what is truly a new product, not an upgrade. (more…)