How Nuvolo Enables Complete Lease Accounting and Administration in One Place

Managing leases can be a time-consuming and costly task.

That’s because, for many organizations, lease management is like navigating a maze. Leases are stored in multiple locations, individual departments are managing their own leases, and there are tens or even hundreds of spreadsheets being used to keep track of all the disparate information.

It’s a frustrating situation for everyone involved. People lose time manually tracking down data, leaders can’t get a clear picture of their full lease portfolio, and the organization misses out on potential cost-saving opportunities.

Plus, what happens when an auditor shows up? If an organization can’t quickly and conveniently access the financial reports for their leases, they might be in trouble.

We believe lease management shouldn’t have to be that difficult. And that’s why, as part of Nuvolo Connected Workplace, we offer comprehensive lease accounting and administration capabilities in a single connected solution.

Here’s a closer look at what it offers.

A Single Source of Truth for All Lease Data

Remember those spreadsheets we were talking about? No one should have to deal with that—after all, it’s not 2002 anymore.

Now, every department can upload their leases to the same solution, which means all of your lease information is conveniently stored in one place. Plus, the interface for data entry is simple, straightforward, and user-friendly, making it easy for nearly anyone to use.

And since Nuvolo Connected Workplace is a fully integrated workplace management system (IWMS), you can also connect the Real Estate product to other parts of the business like facilities maintenance and space management for maximum visibility and data sharing.

Fully Verified Lease Accounting & Compliance

Nuvolo makes compliance simple and nearly automatic.

We’ve successfully completed a SOC 1 Type 1 examination based on the AICPA’s Standards for Tax Services, and lease accounting performed using our solution is compliant with FASB Accounting Standards Codification ASC 842 and International Accounting Standards Board’s IFRS 16.

This third-party verification means that our customers get the benefit of knowing that their lease financial reporting is always compliant and audit-ready.

Tracking and Alerts for Everything Lease-Related

When all your lease information is scattered and siloed in different places, it’s easy to forget important dates like payment deadlines and lease end/renewal terms, which can result in monetary losses. But with Nuvolo, you can make sure you never misplace data or miss a deadline again.

Nuvolo makes it easy to track all your due dates, contacts, renewals, amendments, payments, expenses, lease terms, lease adjustments, monthly rent, insurance, and more—all in a single solution.

Plus, you can set up automated alerts to remind you when a key date or event is coming up.

Seamless Real-Time Data Analytics and Reporting

Our out-of-the-box data analysis and reporting capabilities make understanding key information simpler than ever.

Customizable dashboards allow you to visually present all of your key metrics, and detailed reports with a variety of charts and graphs can be generated in seconds.

And since our solution is fully verified for lease accounting and compliance, these user-generated reports can be utilized directly for financial reporting.

One Solution for All Your Leases

To recap, our lease accounting and administration capabilities make it possible to:

• Leave spreadsheets behind
• Maintain full compliance based on industry standards
• Keep track of all your due dates and other lease information
• Analyze and report on key metrics

And that’s just the beginning of what’s possible when you bring all the pieces you require to manage your leases into a single connected solution.

If you’re ready to revamp your real estate operations and create your Connected Workplace, schedule a demo today to see our solution in action.