Issue link: https://resources.tangoanalytics.com/i/1465847
STRATEGIC STORE LIFECYCLE MANAGEMENT Why Has Lease Administration Stood Still? Industry Consolidation & Me Too New Entrants The industry has seen significant market consolidation over the past few years – Vista Equity Partners acquired Accruent in 2010, IBM acquired TRIRIGA in 2011, and CoStar acquired Virtual Premise in 2011. Post transaction, some acquirers focused on platform consolidation while some focused on shoring up holes in existing solutions. What none of them have focused on is improving solutions for users. In fact, in many cases, they've introduced new challenges. They now need to determine how to best juggle different technology platforms, and find ways to fit newly acquired solutions into large existing technology offerings. To make matters worse, while consolidation was occurring with existing players, new entrants into Lease Admin- istration built and delivered the same tired capabilities that have been around for twenty years, with the only improvement being a cloud- based infrastructure. These maneuverings have taken the focus away from what really matters to users. Over the last 15 years, it is safe to say that there has been little advancement in the capabilities offered in lease administration offerings. Existing vendors have attempted to dress up their old functionality to look like something new, but substantive changes have been few and far between. Several key factors have kept Lease Administration solutions locked in time. These include the industry's focus on consolida- tion rather than development of products users need, as well its misperception of the role lease administration plays within the broader organization. The result is that the true value of lease-related data, and its relationship to the overall real estate and store development lifecycle, is overlooked. Truth be told, lease information is incredibly valuable and can be considered one of a retailer or restaurant companies' most powerful strategic assets. With both the internal and external forces propelling retailers and restaurant companies to shift their perspective on the impact that effective management of lease administration has on the success of their entire real estate process, let us review the limitations of existing solutions and the opportunities available to retailers. SMARTER STRATEGIES. FASTER EXECUTION. I www.tangoanalytics.com I PAGE .2