Aussie ICT business Synetek Systems Pty Ltd is set to take the pressure off struggling retailers everywhere with the release of an advanced version of their successful application LeaseEagle, a business solution developed with leading cloud technology that delivers a secure, centralised portal for busy retailers to manage leases, franchises, properties, contracts, documents and payments.
The potential for LeaseEagle 4 to turn struggling businesses into successful ones stems from what might seem an unlikely corner—real estate leasing.
CEO Lee Trevena said, “Many businesses will tell you that the biggest strain on their purse strings is the payment of regular wages. But what most retailers fail to manage effectively is real estate, which is typically their second largest cost.”
Also cutting into retail profits is a failure to track rental property cost increases properly, exclusion of lease associated overheads like utility costs from lease negotiations, and relying on landlords to calculate and invoice correct charges. Mr Trevena added; “Landlords have been known to overcharge retailers and we’ve seen customers save as much as $100,000 just by implementing our LeaseEagle software.”
With more than 20 years retail real estate experience, the team behind LeaseEagle 4 is dedicated to helping retailers everywhere reduce the costs of occupancy and mitigate the legal risks associated with managing a retail business. With LeaseEagle, Synetek Systems has helped companies like Boost Juice Bars, Billabong, Priceline and Jeanswest gain control over their store portfolios and lease-related costs.
The new version, LeaseEagle 4 is a highly refined, cutting edge version of its successful predecessor. And with brand new Financial Accounting Standards (FAS) regulations due for release in 2012, the timing for this new release couldn’t be better.
Mr Trevena said, “The new FAS regulations will have a huge impact on how retailers manage their leases, and LeaseEagle 4 will be one of the very first solutions out there compliant with the new Financial Accounting Standards Board (FASB) and International Financial Reporting Standards (IFRS) rules. Basically, LeaseEagle 4 helps retailers mitigate a raft of compliance and management risks that they might otherwise neglect, at great cost to themselves.”
LeaseEagle 4 also includes first rate industry reporting and analysis tools, alerts retailers about critical business events, provides a contracts and communications log, and gives access online at any time to information for over 500 shopping centres. It also offers retailers unsurpassed GIS mapping, scheduled reporting and interactive charting capabilities.
As a cloud application LeaseEagle 4 requires no hardware or software other than a PC, web browser and access to the Internet. LeaseEagle 4 also supports mobile devices, providing a single portal with real-time real estate, franchise, projects, financial and compliance management modules.
Synetek Systems Pty Ltd is an Australian cloud software innovator of information and intelligence solutions for retailers and franchisors. Synetek's award winning delivery model ensures better information systems become an affordable investment and provide real cost saving.
LeaseEagle is Australia’s leading cloud solution for managing and administering Retailer Real Estate.
LeaseEagle solves that by providing a single information portal for your store network with easy-to-use Real Estate, Franchise, Projects, Financial and Compliance management modules.
The release of LeaseEagle 4.0 in 2011 also enables the industry’s leading reporting and charting tools for live portfolio analysis and performance benchmarking.
Smarter Solutions for Retailer Real Estate