TrustRadius Insights
Lucernex is a versatile software solution that addresses the challenges of lease administration and compliance with accounting standards …
Overview
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.
Recent Reviews
Product Details
- About
- Integrations
- Competitors
- Tech Details
- FAQs
What is Accruent Lucernex?
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.
Accruent Lucernex Features
- Supported: FASB/IASB Compliant
- Supported: Lease Accounting
- Supported: Lease Administration
- Supported: Real Estate Leases
- Supported: Equipment Leases
- Supported: Seamless ERP Integration
- Supported: Risk Mitigation
Accruent Lucernex Video
Banfield Pet Hospital | Accruent Case Study | Lucernex
Accruent Lucernex Integrations
- Yardi Voyager
- SAP
- Oracle
- Peoplesoft
- Workday
Accruent Lucernex Technical Details
| Deployment Types | Software as a Service (SaaS), Cloud, or Web-Based |
|---|---|
| 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 |
Frequently Asked Questions
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.
Reviewers rate In-Person Training highest, with a score of 7.7.
The most common users of Accruent Lucernex are from Enterprises (1,001+ employees).
Accruent Lucernex Customer Size Distribution
| Consumers | 0% |
|---|---|
| Small Businesses (1-50 employees) | 5% |
| Mid-Size Companies (51-500 employees) | 40% |
| Enterprises (more than 500 employees) | 55% |
Comparisons
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Reviews and Ratings
(26)
Community Insights
TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!
- Business Problems Solved
Lucernex is a versatile software solution that addresses the challenges of lease administration and compliance with accounting standards such as ASC 842 and IFRS 16. Users across various departments including Legal, Real Estate, Finance, Tax, AP, Construction, Operations, and Procurement rely on Lucernex to streamline and improve their lease management processes.
One key use case of Lucernex is in the negotiation and management of store leases. It helps users efficiently handle the negotiation of store sites, track lease-related data, process rent payments, and generate reports for lease administration purposes. Additionally, Lucernex facilitates equipment lease management for FASB/IASB compliance.
Another important use case is the centralization of lease portfolio information. With Lucernex, users can house all their leases in one place and access critical data whenever needed. This not only ensures compliance with ASC 842 regulations but also enables better control over lease-related accounting functions such as rent accruals and payment processing.
Moreover, Lucernex integrates seamlessly with ERP systems for rental transactions and supports straight-line rent and percent rent accruals. This integration enhances data accuracy and enables efficient financial reporting. The software empowers accounting and supply chain departments to adhere to FASB guidelines while facilitating lease administration tasks.
Overall, Lucernex Lease Administration & Accounting provides a comprehensive solution for tracking leases, managing lease expenses, ensuring regulatory compliance, centralizing data, and improving system controls. It is a valuable tool for organizations seeking to streamline their lease management processes and meet accounting standards effectively.
Attribute Ratings
Reviews
(1-19 of 19)Companies can't remove reviews or game the system. Here's why
September 17, 2018
Great Lease Accounting System
We are about 1/2 way through the implementation. We will be using it to calculate our current SL rent and the new 842 schedules.
September 14, 2018
Good value for our needs
Lucernex is used to house our real estate and equipment leases to prepare for ASC 842 adoption.
September 13, 2018
My day of training at Accruent
We are using Lucernex for all our tower, ground, easement leases (over 900). We previously were using Siterra but are moving to this platform.
September 12, 2018
Lease Accounting Software Review
We are using this product for straight-line rent schedules and the new FASB lease accounting standard.
September 12, 2018
I really enjoyed the review!
We use Lucernex for accounting and for our leases for the new ASC 842 .
September 12, 2018
Good Tool, So Far . . .
Our firm is currently using Lucernex within the Finance department to support other business units across the firm. It is providing for us FASB compliance, ERP integration, data centralization and better system controls.
September 12, 2018
Solid tool, intuitive platform
Lucernex is going to be used across the organization, and it allows us to centralize our lease portfolio information.
September 12, 2018
Great Training on Lease Accounting Software
Lucernex Lease Administration & Accounting is being used by our company to serve as a lease document repository and Lease Admin management system as well as to manage our Lease Accounting according to the new ASC 842 regulations.
September 12, 2018
Lease Accounting Solution
Lucernex Lease Administration & Accounting has been procured to help accounting and reporting efforts to adhere to the new ASC 842 & IFRS 16 lease accounting standards. We are in the pre-implementation data collection stages and we hope during implementation to solve our challenges with lease tracking, and accounting for lease expense under the new standards.
September 12, 2018
Lucernex implementation off to a great start!
Initially, we are using Lucernex to implement the new ASC 842 accounting standard. Once it is up and running, we will be utilizing it as a lease portfolio oversight tool for management. Our organization had a very decentralized lease administration process prior to implementing the software. Once it is up and running, we will have a much improved lease administration process.
September 12, 2018
Hope for a Promising Software, but Have Implementation Concerns
We are in process of implementing Lucernex in the accounting/finance department to assist in the adoption of ASC 842.
September 12, 2018
We chose Lucernex for our FASB accounting and reporting needs
Lucernex is being used by our organization primarily to support our adoption of FASB ASC 842 and to manage our leases through a software solution versus Excel.
September 12, 2018
Lucernex review
We are only in the implementation phase, but the goal is for this to be used by the accounting and supply chain departments. The intent behind using the software is to address concerns over new FASB standards as well as facilitate lease administration overall.
September 12, 2018
Let's go Lucernex!
Our organization is in the infancy of the implementation of the Lucernex Lease Administration platform. The Leasing Team will be using Lucernex to manage our leasing portfolio, as well as assisting Accounting in meeting the new FASB accounting standards.
September 12, 2018
Getting ready to implement...
We are currently implementing Lucernex Lease Administration in our accounting department to assist with the adoption of the ASC842 guidelines. We hope to achieve better business processes and reporting.
July 09, 2018
I would chose Lucernex again and again - great vendor relationship and excellent product functionality
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.
April 06, 2018
Not for everyone
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.
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.
April 04, 2018
Lucernex Review
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.