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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.https://dudodiprj2sv7.cloudfront.net/product-logos/2l/gy/HQD2LEW5C0CK.JPEGI would chose Lucernex again and again - great vendor relationship and excellent product functionalityWe use Lucernex in multiple departments within our organization - Legal, Real Estate, Finance, Tax, AP, Construction, Operations, and Procurement. We use the product to manage the negotiation of store sites and their leases, the building of the stores, and the management of the leases - from payment of rent to the accounting for the leases. We are also now processing our equipment leases out of the product to comply with the new FASB/IASB compliance.,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.,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.,10,Lucernex will be handling the management of the new FASB/IASB standards for our company. We were very pleased with its management of our Straight Line rent accounting and look forward to its management of the new standard.,Lucernex manages all of our store and equipment leases extremely effectively.,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.,CoStar Real Estate Manager, Tririga and AMTdirectLucernex! Providing You A Lease On Life. The Real Estate Life.We currently use LX to house over 800 store leases, mainly for use by our Corporate Accounting and Real Estate departments. We pay all rental transactions through the system, which integrates to our ERP. We book straight-line rent and percent rent accruals and are now in the middle of the transition to FASB 842. Real estate uses the system to run reports used in lease negotiations, or lease admin, such as notice dates. Our Financial Reporting department utilizes many different reports within LX for disclosures in our SEC reporting packages.,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,Would like to see more webinars/online training or best practice sessions and documentation on various modules within Lucernex,8,It is our one and only software solution to put our company into FASB compliance. I have been very impressed with the response by the company to create, test and institute the necessary modules to complete this transition. We have been able to test the new modules for over a year, and feel comfortable with the process as we move forward to go-live.,Many of our leases have rather complex percent rent terms/time periods. It was a bit of a struggle to get some of these calculations to come out correctly as the Landlord would expect. Lucernex worked with us to set these difficult scenarios up on numerous occasions and we have been very happy. We are currently exploring the idea of entering our equipment leases into Lucernex but are still in the discovery phase.,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,N/ALucernex ReviewWe use Lucernex Lease Administration to track all of our lease related data and accounting functions. We use it within our leasing department and have integrations built in to communicate with our accounting system. We use the system to pay our rents, calculate accruals, and do our accounting entries for FASB compliance.,Allows me to customize my fields, pages, and reports to meet my needs. Makes our accounting processes more efficient. Realizes how the retail world works and is able to fit the product to meet our needs.,Training - more in depth training for users More robust reporting without the need for Java or advanced reporting knowledge.,10,The FASB requirements were one of the main reasons for purchasing Lucernex and it has made the process much easier and I am confident that it will be working as we need it to when the new rules go into effect.,I think the system handles all leases very well. It enables you to customize it for your needs.,Makes our lease administration more efficient. Allows us to comply with the new FASB guidelines,AMTdirect and AccruentNot for everyoneWe in Real Estate use Lucernex to house all our data and also link to Accounts Payable to pay the rent. It helps us automate the rent roll process.,It has the capacity to store a lot of data It's easy to log into There is very little downtime,The structure of the software as a whole is very rigid and changes/improvements are hard to come by Search functionality is inexplicably terrible in terms of quickly narrowing results The reporting system is unintuitive and cumbersome The user interface is difficult to change Getting support can be extremely slow, even when we've expressed that a matter is of high priority,1,Unknown,The situations handled well are ones that are straightforward and follow a standard approach. Conversely, when leases are unique in structure there isn't the flexibility to deal with that in a simple way.,Lucernex does not do anything that affects our business objectives any more than other standard software of its kind.,
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Lucernex Lease Administration & Accounting, an Accruent company
5 Ratings
Score 6.1 out of 101
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Lucernex Lease Administration & Accounting Reviews

Lucernex Lease Administration & Accounting
5 Ratings
Score 6.1 out of 101
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July 09, 2018

Lucernex Lease Administration & Accounting Review: "I would chose Lucernex again and again - great vendor relationship and excellent product functionality"

Score 10 out of 10
Vetted Review
Verified User
Review Source
We use Lucernex in multiple departments within our organization - Legal, Real Estate, Finance, Tax, AP, Construction, Operations, and Procurement. We use the product to manage the negotiation of store sites and their leases, the building of the stores, and the management of the leases - from payment of rent to the accounting for the leases. We are also now processing our equipment leases out of the product to comply with the new FASB/IASB compliance.
  • 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.
  • 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.
Lucernex is well suited to meet our company's need to manage our multiple retail concepts. Because we manage our own field and pages, we can configure the system to meet our different needs across our concepts and our ever-changing business needs.
Read Kimberly F Williams, Esq.'s full review
April 05, 2018

Lucernex Lease Administration & Accounting Review: "Lucernex! Providing You A Lease On Life. The Real Estate Life."

Score 8 out of 10
Vetted Review
Verified User
Review Source
We currently use LX to house over 800 store leases, mainly for use by our Corporate Accounting and Real Estate departments. We pay all rental transactions through the system, which integrates to our ERP. We book straight-line rent and percent rent accruals and are now in the middle of the transition to FASB 842. Real estate uses the system to run reports used in lease negotiations, or lease admin, such as notice dates. Our Financial Reporting department utilizes many different reports within LX for disclosures in our SEC reporting packages.
  • 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
  • Would like to see more webinars/online training or best practice sessions and documentation on various modules within Lucernex
The Lucernex software can be perfectly tailored to suit a company's needs. If certain data needs to be captured within your portfolio that isn't delivered out of the box, data fields and customization can easily be placed on pages to house this data. I think any company large or small could use Lucernex, as little or as much as they want to. As a company, we started out planning to use it for tasks A & B, and now use it for C,D,E & F! It also works as a great tool for our Lease Admin folks to keep track of lease renewals and terms.
Read William Rose's full review
April 04, 2018

Lucernex Lease Administration & Accounting: "Lucernex Review"

Score 10 out of 10
Vetted Review
Verified User
Review Source
We use Lucernex Lease Administration to track all of our lease related data and accounting functions. We use it within our leasing department and have integrations built in to communicate with our accounting system. We use the system to pay our rents, calculate accruals, and do our accounting entries for FASB compliance.
  • Allows me to customize my fields, pages, and reports to meet my needs.
  • Makes our accounting processes more efficient.
  • Realizes how the retail world works and is able to fit the product to meet our needs.
  • Training - more in depth training for users
  • More robust reporting without the need for Java or advanced reporting knowledge.
A retail company with at least 100 leases that need to be tracked - might be cost effective with a smaller company.
Read Jessica Mihm's full review
April 06, 2018

Lucernex Lease Administration & Accounting Review: "Not for everyone"

Score 1 out of 10
Vetted Review
Verified User
Review Source
We in Real Estate use Lucernex to house all our data and also link to Accounts Payable to pay the rent. It helps us automate the rent roll process.
  • It has the capacity to store a lot of data
  • It's easy to log into
  • There is very little downtime
  • The structure of the software as a whole is very rigid and changes/improvements are hard to come by
  • Search functionality is inexplicably terrible in terms of quickly narrowing results
  • The reporting system is unintuitive and cumbersome
  • The user interface is difficult to change
  • Getting support can be extremely slow, even when we've expressed that a matter is of high priority
From what I've been told this is a more appropriate program for retail companies. It's less appropriate when you want the program to be tailored to your specific needs.
Read this authenticated review

Lucernex Lease Administration & Accounting Scorecard Summary

About Lucernex Lease Administration & Accounting

The Lucernex Lease Administration and Accounting solution allows companies to manage the most complex real estate and equipment lease scenarios, mitigate risk, and achieve ultimate FASB/IASB compliance. By empowering companies to achieve their mission and enable better decision making, processes become standardized and visibility into real estate and equipment leases increases.

Lucernex Lease Administration & Accounting Features

Has featureFASB/IASB Compliant
Has featureLease Accounting
Has featureLease Administration
Has featureReal Estate Leases
Has featureEquipment Leases
Has featureSeamless ERP Integration
Has featureRisk Mitigation

Lucernex Lease Administration & Accounting Integrations

Yardi Property Management, SAP, Oracle, Peoplesoft, Workday

Lucernex Lease Administration & Accounting Competitors

COSTAR, Tririga, Lease Accelerator

Pricing

Does not have featureFree Trial Available?No
Does not have featureFree or Freemium Version Available?No
Has featurePremium Consulting/Integration Services Available?Yes
Entry-level set up fee?Required

Lucernex Lease Administration & Accounting Customer Size Distribution

Consumers
%
Small Businesses (1-50 employees)
5%
Mid-Size Companies (51-500 employees)
40%
Enterprises (> 500 employees)
55%

Lucernex Lease Administration & Accounting Support Options

 Free VersionPaid Version
Phone
FAQ/Knowledgebase
Social Media
Video Tutorials / Webinar
Email
Forum/Community

Lucernex Lease Administration & Accounting Technical Details

Deployment Types:SaaS
Operating Systems: Unspecified
Mobile Application:No
Supported Countries:All
Supported Languages: Chinese Simplified, Chinese Traditional, Dutch, English, French, German, Japanese, Korean, Portuguese, Russian, Spanish, Thai, Turkish