Managing a large portfolio of leases through their various phases can be an operational burden for many organizations.
Recurve Connect Lease Tracker, powered by HighQ Technology, is a comprehensive tool that greatly simplifies management of leases using an interactive, online platform. You can access and transfer documents within your organization and share them with your real estate counsel and financing teams.
User-friendly dashboards with data visualization help with strategic business planning and customized templates help you quickly prepare frequently used documents. Artificial Intelligence (AI) integrations enable the analysis of lease information across your company’s portfolio to highlight potential issues and liabilities.
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The client had employees around the country who needed real-time access to the company’s large portfolio of lease contracts. They needed to review lease information, make updates, obtain approvals, and execute on a weekly basis. Unfortunately, there were significant pain points in the existing process, including conflicting document versions, missed steps, significant approval delays, and poor management of lease documents once executed. These challenges opened the business up to potential liability and risk exposure.
Once Recurve Connect Lease Tracker was implemented, authorized users could easily access the company’s lease contracts on a real-time basis and generate new lease documents using pre-approved templates. Draft contracts were accessed immediately by both internal and external stakeholders for review, negotiation, and approval without incurring the potential risks of saving local copies, printing, scanning, and even mailing hard copies. Digital document signatures using imbedded DocuSign functionality streamlined document approvals, and auto-generated notifications kept stakeholders on schedule.
The extended team involved in the management of the company’s property leases performed as a unified team once Lease Tracker was adopted, and operational speed increased dramatically. In addition, legal processes are more robust and the company experienced less potential risk associated with its extensive lease portfolio.