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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SkySlope
Score 9.9 out of 10
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SkySlope, from the company of the same name in Sacramento, is a real estate software application designed to streamlines the transaction process, enabling brokers to focus on growing their business.
I believe Accruent is well suited for companies with a large amount of leased assets that need to be accounted for under the new accounting standard. Companies with fewer leases would not need an intricate tool of this size. It is suited for both real estate and equipment leases, which makes up the entirety of our portfolio.
SkySlope is most suited for real estate firm document management. I cannot think of another industry that it would be suited for; it is pretty specific. If you have less than 20-30 transactions a year, it wouldn't probably be worth the money versus just scanning. Our company does ~150 per year, and it saves me so much time. It is great for managing brokers of any sized firm with a fair number of transactions.
Lucernex does an excellent job of listening to its customers to continue enhancing the product to make it the best in the industry and to continue to partner with their customers on this endeavor.
Lucernex's product is an intuitive product that allows its end users to customize and manager their own fields and pages to tailor individual company's needs.
Their task manager is not good at all. It is clunky and not very intuitive. In principle, I like the ability to assign tasks to new transactions, but overall this functionality lacks.
If a file is created, it canNOT be deleted. This is very annoying in the case of accidental file creation; it jumbles the archive. Seems like a very easy thing to implement, but support said there isn't currently a way.
The quick audit function is great when files are new, but it is not available for completed files to do the final review. Again an easy implement you would think, but not having this makes reviewing files in the final stages very clunky. It takes forever. Support gave me a workaround, so that helps.
The trainers were knowledgeable and engaging in presenting the materials, and their emphasis on important concepts was helpful (I would rate the trainers themselves a 9!). However, I do not believe there's anything we learned in the in-person training that could not have been taught via live web-classroom. Traveling a significant distance (in our case) to Austin, TX for only approx. 12 hours in the classroom was (in my opinion) not necessary, since the same material could have been presented via live web-classroom and saved us the expense and travel-time. I would encourage Lucernex to consider moving to a live web-classroom format in the future; an online live format would still allow for participation and questions from the participants while saving clients' time and money
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 data mapping process, we were able to easily find a home for all of this "random" data
SkySlope just has a lot more functionality over this software. All three have a comparable digital signature and templating capabilities. but SkySlope has many additional purposes. I have not found another software like it. Other software I demo-ed was not even close, so SkySlope seems to have the market cornered, but I haven't evaluated again for a couple of years.
Lucernex was able to complete our business objective to manage and process all of our Lease Accounting entries within the software.
Lucernex has enabled all of our departments to become better connected, work together to create synergies and transparency to better meet business objectives.
