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September 26, 2011
Director of Lucernex Client Services, Jim Short, discusses the NRTA Conference Highlights.
What a difference a year can make! The energy at the NRTA conference this year was definitely around moving forward not just treading water. With the economic picture still cloudy and unsettled, the conversation on technology spending remained conservative. BUT, a new theme emerged – it is time to act!
The conversation around “acting” focused on three areas:
July 6, 2011
Manager of Lucernex Lease Analysis products, Mike Hammerslag, discusses recent progress by FASB / IFRS.
I have blogged previously about the tentative nature of the efforts between the FASB / IFRS. To some of you this has may have appeared harsh, while to others, it likely seemed an accurate view of FASB/IFRS positioning. In my reading of changes to the FASB/IFRS position, it true that FASB and IFRS are making progress. The most recent accomplishments from the recent meetings of these two groups are:
June 29, 2011
Retail technology expert and Lucernex President, Joe Valeri (see Joe’s management summary here), discusses one takeaway from the recent joint NRTA / Lucernex survey on retailer FASB readiness.
We recently concluded a joint survey with the National Retail Tenants Association (NRTA) focused on the retailers’ perspective of the impact of the FASB changes and their readiness for those changes. One of the great things about collecting this much data at once is that many different dimensions can be explored. The finding that intrigued me the most was HOW retailers are planning to solve the problem and WHO they were involving in the resolution. This finding accentuated for me the vast advances the retail industry has made in both technology and process integration over the past 10 to 15 years. (more…)
March 14, 2011
Lease Administration expert, David Wells (formerly of Tequilla Software maker of RetaiLease) discusses the under appreciated Lease Administrator
The CFO walked brusquely into the conference room where I was doing a demo. He was wearing baggy shorts, sandals, and a navy hoodie that covered up a red t-shirt that was, as mom used to say, a wee bit too long. He sat down and began to take in my ‘performance’. About six minutes later he stood up to leave at which point one of the attendees interrupted me (politely) and asked the CFO what he thought so far. (more…)
December 6, 2010
Hosted by Lucernex and Verian Technologies
Thursday, December 9 at 2-2:30pm EST
Click Here To Register
Common-area maintenance (CAM) lease reconciliation is one of the biggest challenges retail finance departments face. Usually crafted by lawyers, CAM leases are notoriously difficult to reconcile. More importantly, retailers leave thousands of dollars on the table every year because there’s no easy way to match up invoices to the original CAM lease.
December 6, 2010
Robert Abdul joins Real Estate Intelligence Software Developer
DALLAS – (December 6, 2010) – Lucernex Technologies, a developer of business intelligence software for real estate management and development, announced today that it has hired Robert Abdul as vice president of global sales. In this position, Abdul will be responsible for directing and managing all sales initiatives for the Lucernex suite of Location Performance Management solutions for corporate and retail real estate executives. Lucernex’s solutions are currently in use by hundreds of thousands of locations in the global retail, hospitality, engineering and construction industries, as well as hundreds of corporate real estate executives and real estate brokers worldwide.
December 6, 2010
Lease Administration and Accounting expert and Lucernex Director of Client Services, Jim Short, discusses the value of CAM Reconciliation and technology that support it.
Technology, combined with a well defined process is essential to optimizing your expense recoveries. The common mistake many multi-location companies make is not realizing that they are also in the real estate business. They see themselves as retailers or healthcare providers or bankers selling a product or as corporations providing a service and often overlook the impact of their location costs. These costs are usually the second or third highest expense on the P&L behind employee salaries/benefits and inventory. This is one area where most companies can look to find additional cost savings.
November 8, 2010
Former Accountant, Lease Administration and Accounting expert and Lucernex Director of Client Services, Jim Short, discusses the high cost of waiting to upgrade your Lease Administration system.
Changes to FASB / GAAP rules are eminent. Little has changed in the last few reviews and the rules are now out for final comment. It is clear the changes reflect an enormous shift in how leaseholders will account for their leases. The biggest unanswered question seems to be whether they will go into effect in 2013 or 2014.
What we hear from retailers is that they plan to wait until the final rules are adopted before making any changes. There are a number of reasons why waiting is a very dangerous choice. (more…)
October 26, 2010
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…)
September 13, 2010
Lucernex expert and EVP Ken Brown’s (see Ken’s management summary here) discusses why lease administration and lease analysis software have never been more important.
Big changes are coming to lease accounting laws and these changes will ultimately impact how real estate leases are created and executed. The changes are going to be significant and far-reaching. Real estate professionals need to see the writing on the wall and be prepared with a plan of action to ensure their company’s existing and future leases comply with this new standard. (more…)