Accruent acquired Lucernex in 2017 to boost its IWMS or asset management portfolio. Lucernex Lease Administration & Accounting is a real estate lifecycle management platform emphasizing compliant financial contracts and accountancy.
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Accruent Lucernex
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Accruent Lucernex
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We currently use CoStar, but it has very limited capabilities, which is why we chose to move to Lucernex.
We evaluated Prolease and CoStar. ProLease provided the bare minimum, while functional, lacked the integration piece to other systems. CoStar was the cadillac of systems. Lucernex was a good middle ground.
We already use another Accruent program and plan to transition additional modules next year, so we did not evaluate other companies specifically for the Lease Admin/Accounting piece. We looked at Lucernex as a whole Real Estate lifecyle and it offered us the most in terms of …
SAP and IBM's offering was overly intricate for our needs. Their costs were out of our budget range. We also looked at services from external audit firms, which showed the same result.
We chose Lucernex based on the commitment of building and maintaining the customer/vendor relationship to grow the product, the end user ability to configure the system and the systems functionality to complete all of our lease management needs.
I was not around when the program was selected, but I know at the time that we selected Lucernex mainly because it was the only cloud-based software we knew about at the time and that was a requirement that our IT notified us of late in our search.
I cannot recall exactly what other products we reviewed before choosing Lucernex, but one of the leading factors was how highly customizable the software was. We had previously been using Retail Lease which was an older program with buckets of data stored everywhere. During the …