#1 most frequent
United States of America
83.6%225 installations of 269
What is Accruent Lucernex?
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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Who Buys & Uses Accruent Lucernex
#2 most frequent
Canada
8.2%22 installations of 269
#3 most frequent
United Kingdom of Great Britain and Northern Ireland
2.2%6 installations of 269
Lucernex implementation off to a great start!
Pros
- Accruent provides us with continuous customer support throughout our implementation of Lucernex by having running weekly calls with us to talk through and problems we may be having and to keep us updated on changes in the system.
- The software is custom, so you can fit the software to your specific needs as a company. For example, we will not be utilizing the payment functionality. Accruent works with you to ensure the system is set up for the way you plan to use it.
- The mix of in house and online training is perfect for our busy schedule.
Cons
- Experience with the software: from what we have witnessed thus far, there are a lot of new hires at the company that are still getting a handle on the software. This will only improve with time, as I am sure the new accounting standard caused a mad scramble to ensure the appropriate amount of resources are available for the influx of customers looking for a lease accounting solution.
- Compartmentalized training may be an issue. We noted that a more advanced reporting training is available, which was not included in our scope of work. In addition, training on the equipment side of the software was not included. The training provided should be comprehensive of the way you are using the software.
I would chose Lucernex again and again - great vendor relationship and excellent product functionality
Pros
- 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.
Cons
- While training classes are very in-depth and well taught - we would like to see more on-line classes offered.
- While the reporting feature is easy to use, we would like to see better training/capabilities created for more in depth reporting across modules and for more complex report features.
Return on Investment
- 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.
Alternatives Considered
CoStar Real Estate Manager, Tririga and AMTdirect
Lucernex review
Pros
- Involved implementation team
Cons
- Narrowing down fields to only those necessary initially would make the program easier to use for first time users. The fact that it is so configurable seems to be working against us as a lot of the fields/tabs seem ambiguous and redundant (i.e. expense group, expense type, expense category; having to enter term dates and then having to update the detail screen with commencement date/end date.
- The system doesn't seem to flow easily between areas. It would be more helpful to have a sequential set of inputs that it automatically prompts you to take. Currently it seems like there are multiple steps that you have to just remember to complete one after the other.
Lucernex! Providing You A Lease On Life. The Real Estate Life.
Pros
- Large product family allows them to use technology from one product to improve another
- Helpdesk/Ticket system is very user-friendly, Support team responds very quickly to answer issues
- They have been very receptive and inviting to user feedback as far as improvements to the software
Cons
- Would like to see more webinars/online training or best practice sessions and documentation on various modules within Lucernex
Return on Investment
- Lease negotiation process has improved, we are able to make quicker, sound decisions with all the data at our fingertips
- Internal and external reporting has been enhanced through the use of the reporting module. Reports can be easily made and tailored for reporting needs
- Percent rent and straight line accruals are now automated through the system which cuts down on manual user error from previously using spreadsheets
Alternatives Considered
N/A
My day of training at Accruent
Pros
- Easily able to maneuver around the site - resembles Salesforce platform that I am very familiar with.
- Ability to enter in both landlord and tenant leases, current system we are only able to enter in landlord leases.
- Offsets, alternative rent set ups are easy to set up and manipulate.
Cons
- Only thing so far we need to figure out is setting up split month escalations.
- Had glitches in the e-learning training as site would freeze.
