Lucernex Technologies, an innovative developer of business intelligence software for real estate management and development, today announced the release of Lx Contracts, a lease administration and contract management software solution designed for corporate and retail real estate organizations. Lx Contracts acts as a single database to more efficiently and accurately manage the leasing process for organizations with portfolios consisting of multiple properties – both locally and internationally – as well as carefully manage all other related agreements involving at least two parties, contract terms and payments. The new product will be offered as a standalone solution and as the newest module of Lx IWMS, Lucernex’s integrated workplace management system currently used to manage hundreds of thousands of locations in the global retail, hospitality, engineering and construction industries.
Lx Contracts was designed by Lucernex Executive Vice President Ken Brown, who is also the original creator of the Strategic Lease Information Management (SLIM) software, one of the most widely-used lease administration products in the market. Where SLIM and other similar products do a good job of managing leases, Lx Contracts is designed to handle any type of agreement for leased or owned locations and is tightly integrated into Lucernex’ single platform and architecture. This includes support for the recently acquired LseMod product, now called Lx LseMod which allows you to set up pro-forma contracts and cash-flow analysis to ensure that each agreement you ultimately put into Lx Contracts maximizes your ROI. Unlike the legacy lease administration products still widely used, Lx Contracts is a fully web-based system that offers an easier integration of documents and improved access to and sharing of information; data distribution, navigation and reporting.
“We created Lx Contracts to be a turnkey solution that will provide a centralized, complete set of data that spans the entire lifecycle of every property in a customer’s portfolio,” said Ken Brown, executive vice president, products, Lucernex. “This tool is the natural upgrade for anyone who is currently trying to manage their corporate portfolios on multiple Excel spreadsheets or on other older technologies that no longer meet their needs or are no longer supported.” Lucernex will offer a free, pre-built data conversion upgrade path for current SLIM users and discounted professional services for upgrading from common market tools like SLIM, REM or Siteseer.
The key features & benefits of Lx Contracts include:
• Instant access to the entire real estate portfolio, including site/location, project, facility and related contract details;
• Based on the industry standard data model published by OSCRE;
• Management of any type of agreement involving two or more parties, contract terms and payments, including real estate leases, service agreements, equipment leases, rental agreements, etc;
• Integrated financials including accounts payable, accounts receivable, expense allocation, expense recovery and auditing;
• Integrated calendar with critical date alerts via email and dashboard;
• Integrated document management with drill-down capabilities for data spanning the entire real estate lifecycle;
• Integrated lease analysis with comparative cash flow analysis and scenarios;
• In-depth management reporting with advanced querying and exporting capabilities;
• Free data conversion for current SLIM users.
“As technology in the real estate industry advances, it is becoming more and more necessary for corporations and retail organizations to upgrade their software tools – not just to improve their portfolio management, but also to comply with evolving government standards,” said Joe Valeri, president, Lucernex. “By upgrading to Lx Contracts, customers will receive the most affordable and complete solution available, designed by the pioneer of lease administration software and maintained by Lucernex’s dedicated product support team.”
Founded in 2000, Lucernex Technologies (lucernex.com) provides real estate developers and facility managers with powerful software tools to guide them through the real estate development process. For nearly a decade, Fortune 500 companies in the commercial real estate, hospitality, retail, construction and engineering industries, both in the United States and Europe, have been utilizing Lucernex Technologies software solutions every day to better manage the development lifecycle. As an innovative leader in Integrated Workplace Management System (IWMS) solutions, Lucernex continues to grow its customer base by applying its Web-based software expertise and real estate development insight to provide advanced tools and services for business.