September 27, 2010

How will your CFO react to the huge costs of upgrading your Lease Administration Software?

Real Estate Software expert and Lucernex VP of Sales Robert Abdul, discusses the choices companies have when looking to upgrade or replace their legacy lease administration products.

What is your strategy to address the costs of upgrading your client server lease administration software? Most lease administration software customers feel trapped by their software vendor but there ARE options.

The market has changed

As market dynamics have changed in the retail real estate software space, private equity investors have entered the market with purchase of some big name companies. The companies they take over care only about increasing recurring revenue. Private equity companies measure their success by uplifting their EBITDA. They do this by increasing customer maintenance fees every year. (more…)

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September 23, 2010

Why building real estate software in house is no longer financially feasible

IWMS expert and Lucernex President, Joe Valeri (see Joe’s management summary here), discusses why internally developed real estate software is no longer financially feasible.

We recently attempted to sell our applications to a very large retail chain which ended with them deciding that their “IT department had looked at everything out there and they decided to build it in-house instead.”

While it has become far less common, there remain corporate, retail and healthcare companies that still go down the road of building their own real estate management software. In the current economy, with the number of low-cost and low-risk software options out there today, I can’t imagine how a valid financial argument can be made to justify the internal short and long-term cost of an internally developed application.
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September 20, 2010

Thoughts on the proposed FASB GAAP lease accounting changes

Lucernex expert Jim Duport discusses the proposed FASB GAAP lease accounting changes.

So, the GAAP lease accounting rules are changing with the dual goals of increased transparency and full disclosure. Don’t panic yet. There are still a number of unanswered questions. FASB (the Financial Accounting Standards Board) released a DRAFT on August 17, 2010 with a request for comments by December 15, 2010. The implementation date has not even been set. I have heard dates ranging from 2012 through 2015.
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September 13, 2010

Why lease administration analysis software is more critical now then ever before

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…)

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September 8, 2010

Lucernex Technologies to Showcase Lx Contracts at National Retail Tenants Association Annual Conference

Dallas, TX (September, 2010) – Lucernex Technologies, an innovative developer of business intelligence software for real estate management and development, will be showcasing Lx Contracts, its lease administration and contract management software solution, at the National Retail Tenants Association (NRTA) Annual Conference taking place September 26-29 in Anaheim, Ca.
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September 7, 2010

3rd party licenses and IWMS pricing

Real Estate Software expert and Lucernex President, Joe Valeri (see Joe’s management summary here), discusses use of third party software licenses in Store Lifecycle Management (SLM) and IWMS solutions.

So here is one of the dirty little secrets of all software vendors including almost all SLM and IWMS vendors. Has this happened to you? Your company begins a product selection and ask for preliminary pricing from vendors to make sure they are in the ballpark. They provide informal pricing. You pick your finalists and send out the RFP. When you look at the pricing provided in the RFP you notice the pricing they provided is shown but there is also a list of required third party licenses; often not including the prices of those licenses (which probably makes you think they are negligible).
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