May 23, 2016
Irving, TX – Tango, the leading provider of Strategic Store Lifecycle Management solutions, today announced the launch of their new Lease Administration solution. Tango’s solution goes beyond the traditional capabilities of Lease Administration and accounting, and recognizes the strategic importance of lease data in informing real estate strategy, driving operational efficiencies and identifying opportunities to reduce occupancy costs. Built with the user in mind, Tango’s Lease Administration solution avoids the pitfalls of traditional products, making it easy to use and implement, which means minimal training and quicker speed to value.
“Lease Administration functionality has been at a standstill for the past 15 years and the incredibly informative power of lease data has been overlooked,” explains Bart Waldeck, Tango’s CMO and Senior Vice President, Product Strategy. “Tango’s Lease Administration offering not only provides a far superior user-focused experience, but it was built from the ground-up to be compliant with the new FASB/IFRS regulations. Furthermore, we’ve taken a new perspective on age-old Lease Administration and accounting requirements, while taking a leap forward in leveraging readily available Lease Administration data to inform real estate strategy decisions.”
As the only solution that provides true integration across the entire real estate lifecycle and delivers a backbone of analytics, Tango enables leases to be both a consumer and provider of critical real estate data. With Tango, leases not only consume data to ensure compliance to contract terms and conditions, they also provide critical data to ensure renewal decisions are made in the context of store performance, relocation opportunities, changing competitive dynamics and overall market strategies and goals.
“Tango has a history of building innovative solutions for retailers and restaurant companies that challenge the paradigms of traditional IWMS solution providers. Our innovative Lease Administration solution follows in the footsteps of our unique Geospatial Analytics, Market Planning, Site Selection and Project Management solutions, each of which were designed ground-up to truly address the strategic challenges faced by our customers,” says Pranav Tyagi, Tango’s President and CEO. “Our approach to Lease Administration is immediately resulting in a strong, positive reaction by restaurant and retail companies, and the first wave of implementations are underway.”
Tango’s depth of industry experience, including a team that grew up in the Lease Administration space, is of particular importance given the recently finalized FASB rules regarding capitalizing leases. “Having access to all the necessary lease data to ensure compliance and to understand the impact these new regulations will have on their company is critical to our customers,” explains Mr. Tyagi. “Partnering with Tango means retailers can address the broader, more strategic requirements of Lease Administration, including adapting to a changed regulatory environment.”
If you are interested in a demonstration of Tango’s Lease Administration offering, Tango will be at ICSC RECon May 22-25, 2016, in Booth N1718.