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
Compare with
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
(1-18 of 18)Companies can't remove reviews or game the system. Here's why
September 17, 2018
Great Lease Accounting System
We currently use CoStar, but it has very limited capabilities, which is why we chose to move to Lucernex.
Specifically, the limitations of CoStar are:
Specifically, the limitations of CoStar are:
Reports are difficult to create and standard reports are lacking needed information.
Abstracts are long and cumbersome with no ability to customize
SL schedules can only be run by location instead of all locations combined
September 14, 2018
Good value for our needs
Lucernex is the best valued product for the extent of our needs.
September 13, 2018
My day of training at Accruent
Way better then Siterra, as noted in previous questions
September 12, 2018
Lease Accounting Software Review
September 12, 2018
Good Tool, So Far . . .
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.
September 12, 2018
Solid tool, intuitive platform
For the price point, this allowed us to do everything we needed to do without an excess of useless functionality.
September 12, 2018
Great Training on Lease Accounting Software
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 configuration for all of our real estate needs.
September 12, 2018
Lease Accounting Solution
Lease Query is better.
September 12, 2018
Lucernex implementation off to a great start!
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.
September 12, 2018
Hope for a Promising Software, but Have Implementation Concerns
We selected Lucernex based on our demo that seemed to meet our needs of complying with ASC 842, based on user friendliness and interface.
September 12, 2018
We chose Lucernex for our FASB accounting and reporting needs
The capabilities of Lucernex fit our needs and it appears to be a cost effective choice.
September 12, 2018
Lucernex review
The final reason was the fact that it can be integrated into our AP system to make lease payments automatically.
September 12, 2018
Let's go Lucernex!
September 12, 2018
Getting ready to implement...
We felt Lucernex had a good balance between real estate leases and equipment leases.
July 09, 2018
I would chose Lucernex again and again - great vendor relationship and excellent product functionality
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.
April 06, 2018
Not for everyone
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.
- N/A
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.
April 04, 2018