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The telecom industry is one of the most dynamic landscapes characterized by rapidly evolving technology and changing customer needs. To meet the ever-changing market demands, telecom companies are continually trying to expand their infrastructure. In this effort, leasing has emerged to one of the sought after strategies. But this has brought in added challenge. Organizations
Lease management and administration can be quite complex and challenging for companies with multiple assets or locations, such as the telecom and retail industry players. In addition to that, the unprecedented data deluge and new and evolved regulatory requirements have further compounded the challenges revolving lease management for these sectors. To ensure efficient operations and
Constantly evolving technologies and shifting business norms are redefining the commercial real estate industry, which is also growing at a rapid pace. Given the new reality and the changing trends, governments and investors not just expect a profitable business but are increasingly focusing on commercial property sustainability. Since commercial properties significantly contribute to energy use
Both Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) brought in sweeping changes, compelling real estate industry to rethink not just lease accounting but also lease administration processes. Aside from extensive regulatory changes, proliferation of digital technology, changing stakeholders’ expectations, volatile economic environment and intensifying competition continue to present daunting challenges
Have you implemented commercial lease administration and accounting software? And is it the right one?
Real estate players are increasingly installing lease administration and accounting software. Given the stringent compliance mandate by International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB), expansive portfolios and complex nature of transactions, software applications have become rather mainstream. While some prefer to go for a single vendor approach for both
Lease administration is a commonly used term, even though it is rarely understood in its entirety. As commercial property managers/owners you realize that managing leases is an integral part of your company’s operations. And lease administration is not a one-time task, rather it is a continuous process that allows you to manage and ensure all