The hard cost of fragmented data
Overpayment of rental and occupancy expenses due to poor data control and visibility is an all too common problem for multi-site tenants and is typically hidden.
For many of these businesses the sheer volume of invoices, coupled with a lack of systems prevents the sufficient verification of Landlord or occupancy invoices.
Poor quality fragmented data and time-consuming payment processes typically results in the failure of payment approvals. Over time and across a large portfolio, this can result in the loss of significant amounts to basic error.
Accounts payable automation designed just for tenants
LEFinancials is the LeaseEagle plug-in module for managing invoice approvals and payment tracking, designed to integrate with a Customer’s existing financial system to deliver faster and more controllable invoice processing.
Designed for organisations needing to manage a high-volume of monthly occupancy invoice payments, LEFinancials typically delivers significant time-savings while also providing increased reporting tools for forecasting, accruals management, IFRS compliance and tracking of percentage rents.
9/10 customers with LEFinancials have identified historical payment errors within their lease portfolio.
Customers who’ve implemented LEFinancials achieved productivity gains of as much as 90% and payment recoveries of up to $500,000.
Stay on top of every aspect of your business’ real estate financials, with features like:
Accounts payable processing with auto charges forecasting
CAMS analysis
FASB & IFRS compliance tools
Multi-currency
Accruals management.
With just a press of a button, generate in-depth occupancy reports or even benchmark costs across any site profile.
Features that benefit business
Enhanced Accounts
Payable Automation
LeaseEagle is designed to streamline the monthly processing of Landlord invoices. By aligning the source data, automated contract matching and systemisation can produce productivity gains of as much as 80%, with flexible workflows ensuring that change-management is still in the hands of the business.
Greater Payment
Controls
Improved system controls remove the risk of double-payments, fraudulent payments and other errors to ensure the integrity of processing Landlord and occupancy-services invoices.
Automated CPI
Management & Forecasts
LeaseEagle enables customers to populate their own forecasts for CPI, then automatically provides the official published indices when available. Support for CPI currently exists in nearly thirty countries.
Detailed Financial
Reporting
Good reporting always begins with the quality of the data, and the unification of data sources achieved by LeaseEagle ensures financial reporting can be performed at an aggregated level or for any individual expense, and for any reporting period – monthly rent-roll, quarterly P&L, financial yearly forecast and even commitments for future years.
Automated Occupancy
Cost Tracking
For retailers, benchmarking Occupancy Cost, as an expense, and also as a ratio to turnover, is critical in understanding a business’ real estate, as well as negotiating with major Landlords. Through integrating sales data LeaseEagle provides retailers with an instant and accurate view per location and averaged across their entire portfolio, brand, landlord or store type.
Automated Accruals
Tracking
When processing invoices in LeaseEagle via the LEFinancials module customers are able to have any accruals tracked by location and by expense to ensure any future ‘catch-ups’ by the landlord are billed correctly.
Multi-Currency
Management
For businesses operating across multiple trading regions each location can have financial data entered in the appropriate or contracted local currency, and then reported either in that currency or consolidated at a group level and converted to a defined ‘pivot currency’.
Percentage Rental
Tracking
Automate the calculation of breakpoints and thresholds for percentage rent clauses, as well as the tracking and accrual of any additional rental. Includes natural base rent thresholds, fixed and indexed thresholds and multi-range or rate calculations.
Finance & ERP
System Integrations
Whilst implementing LeaseEagle does not require other systems integrations, the adoption of the LEFinancials module does enable the transfer of data files for invoice transactions, whilst APIs and custom data exports can be configured for broader integrations.
International Accounting
Standards compliance
LeaseEagle provides reporting frameworks for both IAS17 and IFRS16, ensuring that the critical source data stored for customer leases can be utilised for the instant calculation of either ‘straight-line’ rental values or the more recently required balance sheet entries.
User Logging
& Controls
As a component of the LEFinancials accounts payable module all user actions are auditable and can be controlled by the customer.
Advanced Variance
Reporting
When processing invoices LeaseEagle provides automated reporting to determine movements in invoice amounts against prior periods and payments, helping AP teams ensure completeness and accuracy of processing.