Companies Harness Lease Data for Growth Edge
Leading companies are harnessing lease data to accelerate growth and gain a competitive edge. By unifying finance and real estate teams around shared data, they're breaking down silos, enhancing visibility, and speeding up decision-making processes. This shift is transforming lease data from a mere compliance necessity into a powerful enterprise resource.
Mark McDonald, President of CoStar Real Estate Manager, a subsidiary of CoStar Group, is at the forefront of this change. Initially introduced in 2020 to meet compliance requirements, CoStar's lease cost accounting software has rapidly evolved into a broader digital transformation of the finance department.
Automating repetitive lease accounting tasks frees up resources for high-value work and strategic initiatives. This automation, coupled with the ability to scale lease accounting platforms with organizational growth, prevents complexity paralysis. Moreover, analyzing lease data to uncover patterns, inefficiencies, and opportunities boosts value and drives strategy. By connecting lease data to forecasting, automation, and analytics, companies are turning compliance into a competitive advantage.
The strategic use of lease accounting software is optimizing costs, aligning real estate and finance teams, and guiding organizational growth. As companies like CoStar demonstrate, leveraging lease data can move businesses faster, think bigger, and act smarter, ultimately driving smarter decisions across the enterprise.
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