November 26, 2012

Shari’s Restaurants Selects Lucernex Technologies For Its Lease Administration Solution

Dallas, TX (November 26, 2012) – Lucernex Technologies announced today that Shari’s Management Corporation, operator of Shari’s Restaurants, has selected Lucernex’s cloud-delivered Lx Contracts solution to manage its portfolio of 100 restaurant locations in six U.S. states. Lx Contracts will replace a homegrown lease administration system.

“We selected Lx Contracts over several competitors due to its superior technology, fast performance and easy navigation”, said Ray Damron, Chief Financial Officer at Shari’s. “The executive dashboard will allow us to see our entire portfolio in one place”. (more…)

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August 8, 2012

Big Box Retailer Selects Lx Retail from Lucernex To Replace Siterra

Dallas, TX (August 6, 2012) – Lucernex Technologies announced today that one of the nations largest retailers has selected Lucernex’s cloud-based Lx Retail solution to manage its portfolio of over 450 big box and strip center locations in 45 states. Lx Retail will replace their legacy system Siterra.

“After we have completed this data conversion we will have successfully converted most major legacy lease administration systems at least once”, said Ken Brown, EVP and CIO of Lucernex, “our data conversion toolkit has proven successful in quickly and accurately converting any legacy system”. (more…)

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June 24, 2012

Does your Straight-line Rent process violate basic accounting principles?

Lucernex Real Estate Solutions Strategist, Mike Hammerslag, MS(RE), MBA, CPM® (see Mike’s management summary here), discusses how your straight-line rent accounting process can violate basic accounting principles.

The current reporting guideline governing the accounting for leases in the United States is a regulation known as FASB 13. The fundamental premise of that reporting is that the total rent paid under the lease will be accounted for on a straight-line basis over the entire term. But there are issues. (more…)

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September 26, 2011

NRTA – The buzz and beyond!

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:
(more…)

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August 11, 2011

Re-Exposure confirmed, Grandfathering NOT

Lucernex Real Estate Solutions Strategist, Mike Hammerslag, discusses recent progress by FASB.

The Boards jointly confirmed on July 21-22, 2011, that they would re-expose a new and updated Leasing Standard Exposure Draft incorporating the changes and progress made since the August 2010 Exposure Draft. The new Draft, including a period of discussion, will be compiled in the 3rd quarter of 2011 and released shortly thereafter sometime in the 4th quarter of 2011. (more…)

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July 6, 2011

Tentativeness meets Progress

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:
(more…)

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July 6, 2011

Lucernex featured in Chain Store Age

“Lucernex, NRTA survey: Retailers not yet acting on FASB changes”

Dallas, TX (July 7, 2011) – In a Chain Store Age article from June 30th by Katherine Field Boccaccio, the recent joint NRTA / Lucernex survey on FASB readiness was featured with the writer focusing on several indicators showing that Retailers are not yet acting on the ending FASB changes.

Read the article here

If you would like to get the full survey results click here.

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June 29, 2011

NRTA Survey: Retailers moving away from point solutions

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…)

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June 24, 2011

Lucernex featured in Retail Traffic

“Managing the Store’s Lifecycle, All in One Place”

Dallas, TX (June 23, 2011) – Lucernex is featured in a Retail Traffic article by Elaine Misonzhnik titled “Managing the Store’s Lifecycle, All in One Place” where EVP and CIO Ken Brown and CEO Mike Nuzum discuss how Lucernex set out, in 2000, to build a single solution to manage the entire Retail Store Lifecycle process.

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May 10, 2011

Lucernex Technologies Leads the Market In Transitioning Retailers From Legacy Software to Cloud Solutions

New software-as-a-service lease administration and FASB accounting solution leads to record quarter

Dallas, TX (May 10, 2011) – 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.

(more…)

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