The Top 3 Functionalities to Prioritize in Lease Management Software

Illustration of real-time lease data, compliance tracking, and API integration across devices

We asked 15 industry experts in commercial real estate to identify the functionalities most vital to them when choosing a lease management platform. Their answers surfaced three clear priorities:

  • Real-time, accurate, easy-to-understand data
  • Compliance with accounting standards (ASC 842, GAAP, IFRS 16)
  • Integration with ERP systems

Read about why experts prioritize these functionalities below:

1. Real-time reporting, accuracy, and easy-to-understand data

Today’s finance and real estate teams can’t afford to wait on lagging reports or dig through complex spreadsheets to understand what’s happening in their portfolio. Platforms that offer real-time visibility, intuitive dashboards, and in-depth analytics help teams make faster, smarter decisions.

John Mac, an entrepreneur at UNIBATT, explained it simply:
“A platform that gives you live, customizable reporting turns finance from reactive to proactive.” He noted that having real-time access to lease data allowed his team to renegotiate terms and optimize cash flow before problems escalated.

For industries like e-commerce and logistics, that immediacy can be a competitive advantage. Joe Spisak, CEO of Fulfill.com, shared: “Real-time dashboards with drill-down capabilities let you identify exactly which SKUs or leases are hurting profitability.” Without that level of granularity, profitability becomes a matter of guesswork. Platforms that surface the correct information at the right moment don’t just improve operations; they help teams stay agile in a constantly shifting market.

2. Compliance with accounting standards (ASC 842, GAAP, IFRS 16)

Lease accounting regulations are complex, and even minor oversights can have significant consequences. That's why compliance features, such as automated tracking, audit trails, and up-to-date disclosures, are must-haves for any serious lease management platform.

Lyle Solomon, Principal Attorney at Oak View Law Group, emphasized:
“Accurate time-stamped records are invaluable in audits, disputes, and legal reviews.” He looks for systems that can automatically store contract versions and generate alerts for key dates, such as renewals and rate changes.

Ahmed Yousuf, a financial author and lease accounting expert, agreed: “A system that tracks changes and logs approvals without relying on spreadsheets is a game-changer.” These features don’t just reduce risk, they also save finance teams hours every month and make audits significantly less stressful. When a platform helps ensure compliance as part of your day-to-day workflows, it transforms a regulatory burden into a built-in safeguard.

3. Integration with accounting systems and APIs

The ability to integrate with ERP systems, accounting tools, and payment platforms is crucial for reducing manual work and maintaining a clean, connected source of truth. Lease management systems that offer this capability provide users with a workflow that saves time and prevents errors in the data migration process.

Niclas Schlopsna, CEO of Spectup, put it bluntly:
“Integration gaps are hidden costs—not just financially, but operationally.” He’s seen companies struggle when tools don’t sync properly, leading to extra reconciliation work, delayed reporting, and missed deadlines.

Dennis Shirshikov, Head of Growth at Growthlimit, saw firsthand how real integration can streamline operations: “Switching from batch uploads to an integrated API reduced our close process from five days to less than 24 hours. It also eliminated thousands in recurring errors.” Software that integrates seamlessly isn’t just convenient, it keeps your systems aligned and your processes scalable.

What lease management software is best for your business?

Finding the best lease management software for your business depends on several key factors, including the size of your portfolio, whether you lease or sublease, the compliance standards you follow, and other relevant considerations. But essential things to look out for include:

  • Making sure your software meets the compliance standards your company needs
  • Ensuring it integrates with your existing ERPs
  • Testing the software with your actual lease data to verify accuracy and usability

If your platform isn’t delivering on all three of these essentials, it’s time to start evaluating alternatives.

Try a demo with the leading lease management compliance software today.

Contributors

Special thanks to the following industry experts for sharing their insights:

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Brooke Colglazier

Marketing Manager

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