Feb 5, 2014

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Ditch the Spreadsheets and Upgrade to Lease Administration Software

If your organization is still using spreadsheets to manage your lease tracking and accounting processes, you probably deal with frustration from the lack of efficiency, effectiveness, and accuracy that are inevitable within that kind of system. The amount of manpower that spreadsheets require for data entry and manipulation wastes money and provides ample opportunity for error. Not only that, but spreadsheet systems are quickly outdated and must be upgraded frequently to even stay afloat. In fact, the grief initiated by spreadsheets is one of the primary drives of most companies shopping for a new and better type of system. Spreadsheets are no longer a viable way to manage your company’s lease portfolio. Lease administration software provides relief from spreadsheet distress.

Lease administration software can overhaul your system and cut out the wasted staff resources and money that a spreadsheet managed system requires. On the micro level, the potential of each lease is maximized, while on a macro level, the processes of your organization are streamlined for greater savings.

Every lease in your portfolio is a valuable asset for your organization, and each one has vital information that can bring in more revenue or cost you more money than it is worthWhen the lease sits in a folder in a file drawer, it is impossible to protect your assets and maximize the financial potential of that information without some outlay of resources from the manpower required to maintain the potential of each lease. Spreadsheets are not able to give you the big picture that each lease contains. Lease management software organizes the valuable information in each document and generates reports that create usable and manageable data so that you don’t lose revenue or waste resources.

Because lease administration software involves accounting, administrative, and legal documents, it frequently has administration controls so that each department has the appropriate level of accessibility for its own functions. Meanwhile, management is able to access all functions to view the processes of each department.  Information isn’t just organized and visible now, it is more easily managed.  Not only that, with increased visibility and organization, it is much easier to make informed decisions and see where improvements need to be made. Reports that outline trends in the market can help set effective benchmarks for your organization, as well.

Lease administration software provides so much more potential for your business while offering new functionalities that increase your management capacity, it is the inevitable alternative for providing the efficiency and effectiveness you need to move your organization forward. With lease administration software, your organization will keep valuable revenue and stay ahead in the market.

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