Plan your resources accordingly
In addition to building the functionality above, prepare for ongoing increases in the volume of lease data and detail. Real estate leases are only part of the equation. Add in equipment, vehicles and other types of leases more than 12 months in length, and you will find you have hundreds or thousands of leases to manage and keep in compliance. Furthermore, the new standards require more detailed information — some of which isn’t even being tracked yet. Spreadsheets and manual processes won’t be able to manage the sheer volume of lease data being generated.
Evaluate the scope of work to determine if your internal resources have the available bandwidth and expertise to accomplish this effort in-house.
If the endeavor and ongoing work is more than you can take on, consider our Business Process Outsourcing Services. Getting the most from lease information requires a comprehensive approach to digitizing, centralizing, managing, reporting and distributing data.
A team of lease administration experts examines your existing processes to uncover gaps, errors and manual workflows and identify areas to target for improvement or overhaul. Our legal team has extensive lease administration expertise to understand the legal context, extract the necessary information and ensure it is accurately input into leasing management software.
A strong expertise in change management means we know what works to get teams on board. We’ll provide training and ensure controls are in place to help you maximize your investment.
Our services are delivered along with an advanced, cloud-based SaaS technology platform that centralizes and automates lease information management for an all-in-one solution.