The retail industry in India has observed massive development and growth in the last decade and is poised to be one of the most influential sectors in the market today. The Indian retail industry has emerged as one of the most dynamic industries thanks to the entry of numerous new players in the market. According to IBEF, the retail industry in this country accounts for more than 10% of the nation’s gross domestic product (GDP) and approximately 8% of employment.
Just like any industry in India, the retail sector was one among the many that were badly hit, owing to COVID-19. One of the challenges faced by retail brands, even during the uncertainties of the pandemic, is to improve profitability while creating value through lease restructuring and management.
The process of retail lease administration has progressed from a mere supporting role to playing a far stronger part. Effective lease management can facilitate handling data in a better way, which will lead to making far better decisions, thereby resulting in profit for both tenants and landlords. However, it is important to choose the correct lease management system in Mumbai to deal with this challenging process effectively. This is where the all-encompassing and robust CRE Lease Matrix can enter the picture.
Let’s look at the top 3 challenges lease management in retail sector faces and the solutions to combat them:
Extracting Data Effectively & Accurately
When a retailer has millions of data points about their stores, store locations, and several leases of their outlets from all over the country, it takes a powerful tool to not only store that information but also to be able to extract the pertinent, authentic details needed to make improved business decisions. Moreover, when new stores are launched, which increases the number of leases; companies need a system that comes with a clear but simple intuitive interface that enables inputting new data points.
CRE Lease Matrix, powered by CRE Matrix, can abstract relevant details from lease data and index it. Moreover, the platform uses a maker-checker approach to ensure the accuracy of the data.
Reminders & Notifications for Critical Deadlines
Sometimes, a retailer can forget about the many lease-related deadlines. More often than not, these critical dates are embedded under the many pages of the leasing contract. So they can frequently be overlooked or missed. If you don’t take timely action, with respect to the deadlines, then it can heavily impact the agreements of the lease and even lead to the financial loss which could eventually impact the bottom line. With CRE Lease Matrix, you don’t have to worry as they have a feature to set reminders and notifications for crucial lease-related dates.
Centralized Repository Data of All Leases
A cohesive system is crucial for effectively managing lease information. Without it, data can become fragmented, leading to challenges in accessing and retrieving important lease details.
CRE Lease Matrix brings all lease data together in one centralized platform. With this unified repository, users can effortlessly access and retrieve lease information. This efficient method removes the hassle of sifting through various Excel sheets or documents, which saves time and cuts down on administrative tasks. Whether you need to review lease agreements or keep track of important deadlines the platform offers quick and easy access to the data you need.
In a nutshell, CRE Lease Matrix offers top-notch lease administration services in MMR and the rest of the country. It can combat and provide solutions to any challenge posed by any company belonging to the retail sector in India.
Explore how CRE Lease Matrix can help you streamline your lease administration. Book a demo now!
