When it comes to all the various agreements in your contract portfolio, leases are considered to be the most complex to manage. Lease management can sometimes take up a huge chunk of your time owing to the lack of standardization of clauses and terms, several key dates to keep track of, numerous documents to arrange properly, and so forth. It is even more difficult if the company belongs to a sector that is dependent heavily on leases, such as real estate, logistics, or construction.
Let’s take a look at 3 of the biggest challenges that impact lease management:
- Too Many Spreadsheets and E-mails
If you’re a leasing manager, you will find it too tedious to have the lease documents scattered across a plethora of desktop folders, files, or in spreadsheets and e-mails that are not connected to each other. The challenge in this approach allows for a ton of manual work to be done by the internal real estate team at the company, not to mention the possibility of having a huge margin for error.
In contrast, a centralized source provided by premium lease management software such as CRE Lease Matrix can consolidate all the details from their existing portfolio into one place, thereby making it significantly simpler to track them in real-time. In this way, nothing is missed if an e-mail is un-answered or an old-school spreadsheet is out-of-date.
2. Lack of Accurate Data
When a retailer has millions of data about their leases from all over the globe, the vital details need to not only be stored in a safe and secure manner in a single place but the extracted information should be accurate, in order to make better business decisions.
Moreover, when new shops are launched that lead to new leases being generated, organizations need an effective and robust lease management software India that has a simple but intuitive interface that lets you input new data points. If you’re the best lease management platform, minute details with regards to leasing will be entered, thereby making the retrieval of information all the simpler.
The data is crucial for effective management and improved decision-making. A strong lease management system such as CRE Lease Matrix where data can be entered quickly, tracked, pulled, and arranged into key insights, can help companies increase profitability via a more effective assessment of possible risks and liabilities.
3. Difficulty in Searching Important Data
When your leases are stored in a spreadsheet, your capability to retrieve key data points is limited. At best, you can look for a couple of terms and recognize which contracts are leases or have leases (assuming they are tagged as such).
It is easy to miss important documents that do not fall under the search scope or include many more documents than are viable or required to review. A top lease management software such as CRE Lease Matrix would help in seeking and retrieving vital lease data in a seamless manner.
As we have now discussed the challenges of lease management India, it is now up to you to make the smart choice to opt for CRE Lease Matrix which offers effective solutions to all your leasing concerns.
To know more, visit our website www.creleasematrix.com now.