Issue link: https://resources.tangoanalytics.com/i/1465847
STRATEGIC STORE LIFECYCLE MANAGEMENT SMARTER STRATEGIES. FASTER EXECUTION. I www.tangoanalytics.com I PAGE .3 Functionality at a Standstill When you look at these solutions, there is ample proof that the focus has not been on the user. Existing vendors claim that their lease administration solutions have evolved beyond the mere tracking of data, and they are finally giving lease administration its due by tracking all property obligations, complying with audit requirements, and most importantly, included in an integrated real estate "lifecycle" process. The reality is that solutions are still locked in a feature/function battle, and what we see are only incremental improvements – essentially the polishing of old functionality – with little focus on user experience, benefit or the broader contributions strategic lease administration can make to the entire real estate process. In reality the only nod to new functionality in recent years is focused on the new lease accounting regulations, a promise solution providers have been promoting for 10 years as regulatory approval has dragged on and on. Existing players have attempted to move from client server to web-based solutions and eventually to the cloud, but have only achieved limited success. In fact, in some cases, these cloud-based solutions have yet to achieve parity with the vendors' original solutions. An unfortunate state of affairs, considering they stopped development on those solutions more than a decade ago. New entrants have attempted to build similar cloud-based solutions, but again, limited func- tionality have left users standing still. User Experience is Overlooked The art of the user experience has evolved dramatically to where the experience must create value for the customer. Sadly, this evolution hasn't happened for lease administra- tion. We like to say "it wasn't built for you" – and that's just a fact. Lease administration solutions were not built with the perspective of the user in mind. Rather than looking through a business lens, available solutions have been built from a technology, data and accounting perspective. Look at any available lease administration solution and users are inundated with screens containing dozens of fields that are rarely, if ever, needed. And not only are they not required, the clutter creates more effort and complexity and delivers little value. In this case, bigger isn't better. Simplicity, in fact, will result in a higher quality outcome. Developing 200 required, well-maintained fields is more valuable to a user, and to the organization as a whole, than 500 fields that are not required and inconsistently managed. Rather than orienting the user experience around the data, lease administration solutions must orient around known processes to make the solution easy to use, involving minimal training and quicker speed to value. Most solutions force users to start with a lease and then drill down to the infor- mation they want. But what about a solution that starts with a genuine, graphical home page, one that provides key information that a user is really interested in and is reorient- ed around the way you work? Additionally, there is wealth of information in the lease administration system which is not being leveraged elsewhere in the lifecycle. A user-oriented solution would not only include lease analytics throughout, but also a stream- lined approach to day-to-day lease administration activities and a central repository of documents that can be utilized across the lifecycle.