Lucernex Technologies announced today that Aaron’s, Inc. (NYSE: AAN) has selected Lucernex’s Lx Retail to manage its over 1,800 Company-operated and franchised stores in 48 states and Canada.
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Dallas, TX– Lucernex Technologies announced today that Aaron’s, Inc. (NYSE: AAN) has selected Lucernex’s Lx Retail to manage its over 1,800 Company-operated and franchised stores in 48 states and Canada.
“After evaluating our operational requirements, we realized that we needed more than just a replacement for our legacy lease administration system. We needed an integrated approach to managing our real estate. Lucernex offers a solution that will allow us to manage the entire store life cycle in one database and on one platform,” said SVP of Real Estate, Paul Doize. “Lucernex has clearly applied their top-down knowledge of real estate to design a solution that will provide value to our entire organization, from the executives to the lease administrators, real estate accountants, and the franchise management team.”
Robert Abdul, VP of Sales for Lucernex, described the selection process as gratifying. “We were able to demonstrate how our single end-to-end solution will eliminate multiple systems of record for real estate as well as many manual processes. Our standard integration with Buxton for site selection and market analysis seamlessly supports our project management, lease administration and rent accounting capabilities. The ability to integrate with their Lawson financial system instills confidence that finance and accounting has accurate data across the entire real estate lifecycle including regulatory reporting for FASB13".
Lucernex conducted a survey on FASB readiness with the NRTA. In discussing these findings in a recent blog, Joe Valeri, President of Lucernex, said “it was clear that more companies are looking at the potential for greater cost control, more efficiency and added flexibility in lease accounting that is provided in a SLM technology platform. In recent sales opportunities, retailers are asking questions about how they can integrate processes across the lifecycle of a store in ways that don’t just automate their processes but allow them to dramatically improve their store lifecycle management.” The Lx Retail platform includes functionality for more efficiently managing market analysis, site selection, lease analysis, construction management, lease administration and rent accounting as well as capital project management.
About Aaron's, Inc.
Aaron's, Inc. (NYSE: AAN), the nation's leader in the sales and lease ownership and specialty retailing of residential furniture, consumer electronics, home appliances and accessories, has more than 1,800 Company-operated and franchised stores in 48 states and Canada. Founded in 1955 by entrepreneur R. Charles Loudermilk, Sr. and headquartered in Atlanta, Aaron's has been publicly traded since 1982. For more information, visit www.aarons.com.
Founded in 2000, Lucernex Technologies provides real estate professionals with powerful software tools to guide them through the real estate store life cycle. It is the only solution designed “by retailers for retailers” and can manage any size portfolio of leased and owned properties. Fortune 500 companies in the commercial real estate, hospitality, retail, construction and engineering industries, both in the United States and Europe, have been utilizing Lucernex Technologies software solutions every day to ensure compliance, mitigate risk and empower effective growth. As an innovative leader in retail real estate solutions, Lucernex continues to grow its customer base by applying its Web-based software expertise and real estate development insight to provide advanced tools and services for business. For more information, please visit www.lucernex.com.