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O R G A N I Z A T I O N S W I L L I N C R E A S E
L E A S E P R O C E S S A U T O M A T I O N
Most organizations with large lease
portfolios have some sort of lease software
to organize their documents and manage
routine workflows. But only a fraction of
them have comprehensive lease
accounting and administrative solutions to
optimize their entire lease system. They
have gaps between their financial systems
and lease software, and they're still stuck
manually performing arduous processes
like reconciling pass-through expenses.
In addition to abstraction of lease
information, another opportunity for AI is
around financial analysis. Companies with
100's or 1000's of leases often struggle to
efficiently analyze trends and explain
variances. With AI, detailed analysis can be
conducted in a fraction of the time so
resources can focus more on strategic
decisions than time-insensitive activities
such as rent roll variance analysis.
Any time you can automate repetitive
processes, improve analysis capabilities, or
increase visibility of key information, it
reduces your lease-related costs,
decreases errors, and empowers decision
making. And the larger your portfolio, the
more valuable closing these gaps becomes.
That's why so many enterprises and
international organizations combine their
lease accounting and administration
capabilities with Tango Lease. As a
comprehensive lease solution,
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organizations can be confident they're
taking advantage of every opportunity to
automate lease management processes
and make more informed decisions.
But switching to comprehensive solutions
isn't the only way organizations are closing
gaps in their lease processes. When
common workflows rely on lease data but
don't fall under the purview of lease
administrators or accountants, specialized
(and connected) solutions can improve
other teams' access to information without
cluttering your regular lease software.
For example, Tango Lease Transactions
takes advantage of an overlap of decision-
making data to streamline the lease
renewal process. Stakeholders can see
every upcoming option date and the key
quantitative and qualitative information
they need to make renewal decisions,
without requiring administrators to
duplicate their work and make it more
consumable, or forcing decision-makers to
wade through the entire lease system.
The larger an organization's portfolio, the
more appealing these use-case-specific
solutions become. While companies of all
sizes will look for greater breadth and
depth from their lease solutions, those
with hundreds or thousands of locations
will also look to add specialized tools.
6 Predictions for Lease Accounting and Administration: Prediction #2
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