In the late 90s, we had a realization; the way companies manage their leases and contracts is incredibly inefficient. A decentralized, manual system of spreadsheets is not only overly time-consuming but also creates significant risk for oversight. At that point, the contract management systems on the market were mainly loaded onto individual PCs via floppy disks. Our clients had lease administrators spread out across the country, and lease acquisition specialists and brokers acquiring new sites daily.
While any software-based system would be a significant upgrade for an organization, the solutions available at the time lacked in a few key areas: Configurability, Integration, and Reporting. To address these issues, we founded DataNet, and introduced our flagship product, LeaseNet, built on a configurable database application platform to offer a web-based lease management system to meet the individualized needs of businesses, regardless of size or industry.
Configurability:
No two businesses are exactly the same, and every industry has different sets of contract management needs. At DataNet, we provide configurable templates to create a highly customized system for each of our clients’ portfolios, so each stakeholder can easily see the data they need when they need it. Tracking the right contract features and asset data for each type of contract in your portfolio is critical to maximizing the revenue potential of your assets. Sharing data with the right stakeholders at the right time will streamline your internal processes. The configurability of LeaseNet extends beyond tracking selected data points for different contracts and assets. It also enables granular security for users and roles down to the field level, setting date, option, and clause types by contract and asset type. Other features include creating hierarchies, supporting multiple journals and operating companies, unlimited dashboards with re-usable visualizations, defining API calls, and more, while keeping everyone in sync through common interfaces and workflows.
Integration:
LeaseNet is designed to be a fully integrated part of your software and process ecosystem.
DataNet’s Accounting Module provides you with a complete lease financial reporting system, including schedules for straight line and capitalization of payment and receivable streams. Automatically create coded check and invoice records which can be fed to virtually any accounting system including Oracle, SAP, Lawson, Great Plains, and QuickBooks. Our Accounting Module also allows you the flexibility to make managerial accounting decisions that match your asset depreciation and amortization schedules based on your knowledge of your business while conforming with FASB standards.
Beyond financial processing, LeaseNet’s Configurable, Flexible API end points and pre-built connections allow our clients to connect to virtually any line of business system. GIS systems, Operational databases, Document Repositories, Digital Signature services are supported by multiple connection methods to allow your workflows to evolve in your IT environment.
Reporting:
Ad hoc reporting tools allow users to easily generate real-time reports and visualize them across charts, graphs, gauges, and maps. Armed with ad hoc reporting functionality, your employees will no longer need to solely rely on static reporting. You don’t need to pay your team to gather data. Instead, empower them with the tools to ask and answer questions about their data in real-time. You can also create multiple versions of your reports, filtering your cash and accrual data by any number of criteria, and even saving your personal report versions for access with a single click from your home page.
In 1999, we delivered our first software solution for one of the most contract-intensive industries: telecommunications. The client came to us with thousands of contracts, each with unique considerations. These were complex contract terms specific to their industry, such as circuits, pole attachments, risers, right of entry, rack space, roof rights, equipment, maintenance, and more. Our solution made these situations easy to track and from which the client could easily generate real-time reports.
Since our founding over 20 years ago, we have gone on to serve clients in real estate, telecom, utilities, energy, higher education, transportation, and general business – in the United States, Canada, Latin America, the Asia Pacific Region, and Europe – supporting multiple currencies and languages. But we have not taken our foot off the gas, continuing to add new features to meet the contract management demands of our industry-leading clients.