Lucernex Technologies, an innovative developer of business intelligence software for retail real estate management and development, today announced that first quarter of 2011 sales included a record number of new clients switching from legacy software applications onto the Lucernex cloud based software-as-a-service solutions. These results were attributed to offering:
• Lx Retail, the only software solution designed and built by Retailers for Retailers and the first store lifecycle management solution delivered via the Cloud,
• New capabilities for forecasting and managing lease accounting that will support the pending FASB changes,
• Introduction of an updated lease administration and rent accounting module, LX Contracts, designed specifically for retailers,
• Implementation methodology that provides a quicker “time to value”,
• Integration toolkit, ensuring client integrations don’t break when upgrades are released,
• Industry leading application performance and scalability,
• Easy and rapid replacement of legacy applications.
Thanks to the popularity of these offerings and the demand for reasonably priced cloud solutions, Lucernex added several new clients including:
• Buffalo Wild Wings Grill & Bar, one of the 10 fastest-growing restaurant chains in the country, currently with over 750 restaurants, is now implementing Lx Contracts; including a free data conversion of their legacy system SLIM.
• Galaxy Partners, an Atlanta-based corporate real estate management firm that will be using Lx Retail and Lx Contracts to manage the real estate portfolios for their Retail and Corporate clients including a free data conversion of their legacy system SLIM to Lx Contracts.
• A large specialty retail chain with over 3500 locations throughout the U.S. will be employing Lx Contracts to manage their entire lease portfolio, replacing the legacy application Siteseer.
In addition to new customers in the quarter, a 2300 unit restaurant chain went live on Lx Retail after a successful, under budget, implementation.
“Because we are a company with retail operating experience, we can provide a solution that really works for our retailers. By delivering all of our products as software-as-a-service via the Cloud, we are now able to offer the broad functionality of our product suite at a significantly lower cost, which has led to a rise in demand for our solutions in the recent months,” said Joe Valeri, President, Lucernex Technologies. “Additionally, we have introduced Lx Contracts, our lease administration and rent accounting solution, which was designed by the original creator of SLIM, which offers the most advanced lease administration capabilities available on the market, including support for the expected FASB rules and a new vs. old FASB analysis tool that allows users to assess the impact of their lease decisions both now and in the future.”
Founded in 2000, Lucernex Technologies (lucernex.com) provides real estate professionals with powerful software tools to guide them through the real estate development process while also managing any size portfolio of leased and owned properties. 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 ensure compliance, mitigate risk and empower effective growth. As an innovative leader in retail real estate 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.