As the management of leased space becomes more complex for many organizations, the technology available to do so is still manual or antiquated. Tracking leases in spreadsheets or outdated systems is inefficient and ineffective in properly managing a company’s critical assets. Companies need to have a modern method of managing and tracking leases through their entire life-cycle and drive automation around on-boarding leases, amending leases, renewing and retiring leases in an organization.
Most companies manage their leases on spreadsheets rarely consolidated into a single database. Leases are stored in disparate locations, and their management and tracking are often de-centralized, the responsibilities of individual divisions. Coordination is rare, and economies of scale and other opportunities for optimization are regularly squandered.
Nuvolo’s solution consolidates all organization lease information into a single system of record. Leases are electronically available and managed in a central location. Leases in Nuvolo track critical dates, contacts, renewals, amendments, payments, expenses, lease terms, lease adjustments, monthly rent, and insurance along with many other key attributes. Nuvolo has a fully integrated workplace management system which allows the Real-Estate Management module to be tied into Work Order Management, Asset Management, Space Management, and Capital Program and Construction Management.
By consolidating all the enterprise’s lease information into a single location accessible from any connected device, Nuvolo’s solution provides data analysis and reporting opportunities that enable the optimization of lease expenses, and thus potentially significant cost savings. Features of the Nuvolo solution include:
- Full featured lease administration
- Automated notifications of lease expiration and critical dates
- Lease cost tracking and administration
- Lease renewals and amendments
- Secure, electronic storage and access for all lease documents with version control
- Out-of-the box and user-generated reports and analytics
- Seamless integration with Nuvolo’s Facilities Enterprise Asset Management solution (including our Space & Move module) and IT, HR, and other ServiceNow-based applications