In commercial real estate, lease administration has emerged to be a key strategic function to ensure portfolio optimization, cost containment and risk mitigation. However, most companies lack data management skill, infrastructure and expertise in lease administration, which restrict their ability to manage this function effectively.

Inadequate focus on lease administration can result in underutilized assets and missed opportunities to optimize cost and streamline operations. It can also make it increasingly challenging to stay compliant with regulatory standards such as FASB and IASB lease accounting standards.