Until recently, most companies were not paying much heed to their property leases beyond paying the bills. Leases were generally regarded as an expense for doing business. So, managing leases were not deemed to be a priority.
But times have changed now, particularly, after the pandemic. As the companies grow and develop, the number of leases for an increasing amount of properties rises as well. This has led to leasing managers finding it difficult to manage numerous leases at the same time and often leaves room for a lot of errors which could result in serious financial consequences. This is why it has become significant to streamline your lease administration process flow with the help of robust software.
Let’s look at the many ways the lease administration process flow can be streamlined:
Centralize Lease Data
Lease management generally happens with the help of spreadsheets. This system leads to the scattering of lease data and you waste precious time in finding the one you wish to locate. With the help of CRE Lease Matrix, a robust lease management platform, you can centralize the lease data. In this way, all the sensitive and crucial information about leases will be found in one place. You won’t have to waste time and effort in finding the data you want.
Gather & Collate Lease Documents
Assemble lease documents such as commercial approvals, letter of intent, term sheet, agreements & addendums etc. After collating these documents in an indexed manner, the data can be accessed quickly and retrieved faster. The data from the indexed documents can be abstracted into the lease management system by the CRE Lease Matrix team. Then, enter the lease data in a stepwise & segment-wise manner for better comprehension. Don’t worry about inaccuracy for CRE Lease Matrix will implement a maker-checker process to ensure data accuracy.
Digital Documentation
Lease documents can be available in a digitized manner in one place with just a click. Now, don’t need to waste any time making scanning copies and placing them in common folders/network drives. Now, all lease documents will be available to you in the digital library in CRE Lease Matrix. Moreover, critical clauses will be indexed to the pages from the reference documents, thereby empowering the user for a quick glance without going through the trouble of scrolling through the entire document.
Explore Data with Simulations & Alerts
Lease data abstracted will enable you to explore significant metrics including critical dates, escalations, KPIs & portfolio summary more seamlessly and without having to scroll down significant aspects that need to be monitored. It can be configured as periodic alerts by the user.
This is extremely important for streamlining lease administration process in India because if you miss the lease-related deadlines, there could be serious financial consequences. Moreover, forecasting and budgeting of lease expenses/revenues are made easy thanks to pre-built formats. It assists users in averting working in silos and having a centralized reference source.
In a nutshell, there are some ways to streamline lease management process flow. CRE Lease Matrix offers numerous lease management services that can help to achieve the above goal.
So what are you waiting for? Book a demo now!
To know more, visit our website www.creleasematrix.com now.
