Lease Harbor's legacy began with web-based lease administration software. Our system provides full-featured, 100% web-based lease administration functionality with the flexibility to manage any type of asset. The lease administration functionality integrates seamlessly with our lease accounting and task management features.
Ease of use is a focal point of our software. Using our system, clients have significantly reduced the amount of time spent completing common functions related to the administration of their lease, real property and equipment portfolios. When combined with our lease accounting and task management functionality, the entire lifecycle of a lease from creation through ongoing operation accounting can be managed efficiently and intuitively.
Our system offers a rich set of lease administration features, which include:
Capture and management of future lease obligations through simple and flexible transaction management functionality
Simple transfer of transaction data to finalized lease commitment
General information – common fields for leased, owned, subleased, or any other type of asset
Client-specific information – unlimited custom data fields with data type validation
Subrecords - parent/child relationships for organizing asset portfolios where master agreements are involved
Comprehensive audit trail
Base rent/expense schedules with automated proration
Straight-line and front-loaded expense calculation and reporting
Payments, invoicing, and journal entry feeds with ERP system linkage
Expense item responsibility
Filterable audit trail reporting to support SOX compliance efforts
Flexible user security model
Our system provides functionality above and beyond what other portfolio management systems offer:
Extensive Reporting Capabilities
Our system comes with a comprehensive set of standard reports and a powerful searching/reporting engine that allows users to easily and quickly customize existing reports as well as create their own reports. Reports can range from simple modification of existing reports to detailed company-specific designs. True, drill-down reporting is offered at every level within the portfolio.
In addition to our searching and reporting features, our system provides the ability to create client-specific screens comprised of graphical representations of portfolio information. This allows users to view tabular roll-ups and graphical bar/line/pie charts while providing ability to drill-down into the detailed data used to create the roll-up.
Batching provides for efficient two-way processing of fully-allocated payments, invoices, and journal entries with a built-in, securable approval process. When combined with our task management features, client-specific batching workflows can be created for auditability. In addition to saving both time and money, clients have the advantage of collecting detailed batching history for use in budgeting, strategic analysis, CAM reconciliation, and other cost-saving activities.
Each portfolio in our system is set up using a client-specific multi-level tree structure for navigation and drill-down reporting. Clients can structure and organize their real estate data as their business truly operates, such as by geography, organizational structure, or any other meaningful hierarchy. User security can be assigned at every level in the hierarchy, and then further limited by record type (leased, owned, asset, etc.) and functional area (options, clauses, key dates, expenses, batching, etc.).
Since our first system went live in 2000, a unique portfolio customization model has been a cornerstone of our software. Our steadily evolving customization model allows client-specific information to be captured at multiple levels within the system with no engineering required. Custom fields are easy to create and automatically become accessible to our security and reporting features. We also provide additional customization features such as the aliasing of common select list values to suit the needs and terminology of each individual client.
Our system allows companies to easily manage a diverse user base with granular security rights. Client-defined security groups ensure that all users associated with a security group have the exact same capabilities in the system and greatly reduces the amount of time it takes to administer users. Security groups increase auditability while providing flexibility and ease of administration.
Our system has the unparalleled ability to upload/update data in bulk. Many systems require manual uploads and updates of data through the database back-end. This is not only costly and inefficient, but lacks auditability. Our system allows data to be imported from Excel spreadsheets through the web interface. What typically requires an engineer to accomplish can now be done quickly and efficiently by our support team. This reduces the cost and turnaround time required to make bulk updates to data while increasing auditability.
Electronic Data Exchange
Our web services allow companies to exchange information with internal systems (such as accounting, data warehouse, and business intelligence systems). Additionally, data can be downloaded from our system in standard electronic formats for custom reporting, ad hoc data analysis, or off-line database backups. These downloads can be automated using web services.
For our multi-national users, our system provides effortless conversion of currencies, size measurements, and date formatting. Foreign currency exchange rates can be automatically updated daily or can be managed with client-specific exchange rates. All reports and system features accurately convert currencies and measurements at every level of the portfolio with no user intervention required. Date formats are selected at the user level to accommodate the needs of large global user bases.
Technical Architecture and Methodology
Our system is designed and built using current technologies that are reliable and proven in the web-based application industry. Lease Harbor LCC maintains a current SOC report and our software is hosted in world-class tier III+ data centers that maintain current SOC reports.