TANGO PRODUCT DETAILS
Address both the day-to-day operational requirements of lease administration and accounting and ensure compliance. Unlike traditional IWMS or point solutions, Tango streamlines the process of data entry, dramatically improves ease-of-use and reduces implementation time and cost by delivering out-of-the box best practice functionality on day one.
Administer leases with ease from abstraction through management of options, terms, clauses, co-tenancy and more.
Aggressively manage occupancy cost by automating complex calculations, reconciliations and billings.
Achieve FASB & IFRS lease compliance with the only proven solution built from the ground up for the new regulations.
Reporting & Visualization
Let data insights identify issues and steer and prioritize lease management activities.
Streamlined, intuitive home page.
- Centralized notifications of all timely lease management decisions supports the active management of hundreds or thousands of leases.
- Role-based user interface utilizing badge icons provide actionable insights into all lease-related items.
- Receive immediate alerts to items that require attention.
Prioritize lease management, lease administration and accounting tasks and approvals
Ensure time-sensitive lease management decisions are proactively managed and work is streamlined.
- Review and approve invoices, recurrent payments and tasks based on client-configurable systematic workflows without routing to the lease record.
- Directly access the lease details page of each lease requiring approval for a more comprehensive view.
Rest assured that workflow histories are updated automatically
Track key dates and clauses, options and contracts
Avoid data overload and ensure lease management compliance through proactive tracking of financial obligations, key dates and clauses, options, contacts and all other critical lease information.
- Monitor expirations, renewals and other KPIs through automated alerts on the My Actions dashboard, ensuring you never miss upcoming key dates.
- Proactively manage each change event including terminations, extensions and asset retirement.
- Track and manage real estate contract obligations: real estate lease agreements, owned property agreements, space use agreements and service level agreements.
Streamline abstraction and manage key lease items from an easy-to-use interface
Capture all required lease data, including key terms and dates, to ensure compliance with all lease terms and lease accounting regulations.
- Automatically capture basic lease details and handle default calculations, including pro rata share.
- Support everything from a basic abstraction of key dates and dollars to a more detailed and thorough abstraction.
- Set up rent and other periodic expenses with full flexibility regarding payment frequency, multi-currency support, and automated sales and value-added tax calculations.
Centralized view of all lease details
Lease administration software with built-in capabilities for a user to generate a detailed, formatted lease abstract PDF with a single click.
- Automatically create a lease abstract (including options, recurring schedules, etc.) for further review, tuning and processing through an automated quality assurance audit and approval workflow.
- Structure raw lease clause data using a consistent question-and-answer protocol to transform unstructured clause language into strategic lease portfolio information and analytics.
- Extensive configurability: all field labels and drop-down values are client-definable.
Ensure regulatory compliance by recording the who, what and when
Lease administration software built from the ground up to comply with the new IFRS and FASB lease accounting standards and manage all lease types, which including real estate, equipment and embedded leases.
- Approval workflows provide quality assurance checks on abstracts and tiered financial approvals based on client-specific governance and business rules.
- Keep a record of all changes and historical notes from lease inception to termination, including historic value, updated value, and user, date and the time the change was made.
- Amend an approved lease, document the reason and record the historical versus amended state based on amendment type.
Actively track and manage all equipment leases across the enterprise
Centralize management of all equipment leases to mitigate risk, avoid missing critical dates and support compliance to regulatory standards.
- Visibility into lease term, options and expenses will ensure you never miss a key date or status change.
- Consolidate all equipment leases in a central repository for easy reporting and FASB/IFRS compliance.
- Built in FASB (840 & 842) testing to determine if the lease is Capital (Finance) or Operating.
Generate rent rolls, manage one-time payments and exceptions
Complete complicated rent and other financial calculations, straight line rent streams, manage and forecast accruals, and automate journal entries while aggressively managing variable expenses.
- Employ full rent roll capabilities inclusive of one-time and recurring payment generation, with the ability to organize leases into specific groups for rent roll generation.
- Calculate and manage straight-line rent schedules while automatically factoring in specific accounting calendars, free rent periods and likely term.
- Review, audit and approve payments prior to interfacing with the accounting system, with full integration to ERP for payments, receivables and journal entries.
Improve landlord-tenant negotiations and retail lease structures through active percentage rent management
Fully automate the process, integrating sales data, performing calculations and triggering payment in your accounts payable system.
- Calculate and/or pay rent on a monthly, quarterly or annual basis.
- Enable calculation against pro-rated or annualized breakpoints, as well as lease year-end gross up functionality.
- Easily factor in exclusions and offsets to ensure calculations are accurate and avoid over-payment.
- Visualize and report on all data related to percentage rent.
Pay only what you owe through template-based reconciliations
Compare landlord invoices to lease terms to avoid overpayments and penalties and ensure effective lease management.
- Easily conduct desktop audits and feed critical data into analytics to provide a portfolio or landlord-level view of expense trends to identify outliers.
- Perform template-enabled desktop audits at the line item level or variance cap to alert when the CAM account total exceeds the user-defined percentage variance.
- Tackle the most complex retail leases, including four different cap on expense scenarios: total cap on the reconciliations period, cap at the line item level, group caps and cumulative caps.
- Contrast current and previous period amounts and calculate percentage change.
- Compare the landlord’s detail bill with the stated lease terms to ensure accuracy and compliance.
- Automatically generate the true up payment or credit once an audit is confirmed and approved.
Simplify tenant/subtenant administration
Proactively manage your subtenant portfolio in your lease administration software to ensure collection of rent and the ability to stay on top of delinquent accounts.
- Generate sublease invoices, including CAM obligations.
- Track invoices and receipts for each subtenant.
- Report on aged delinquencies and posting credits to accounts receivable systems.
Classify your leases properly to ensure conformity to FASB ASC 842
Leverage built-in lease classification questions and functionality to identify the classification type (finance vs. operating) to support FASB compliance.
- Support the standards requirement to bifurcate real estate leases by easily identifying and managing bifurcation schedules on a single lease record.
- Establish balance sheet entries to set up right-of-use assets for each lease.
Operate under the current standard while supporting the setup and analysis of the new rules and their impact on your business
- Straight line operating and finance leases under FASB 840/842 and IAS 17/16.
- Create multiple schedules to support continued operation under the current standard.
- View detailed schedules, as well as produce comprehensive reports and necessary journal entries.
Beat lease administration software to transform raw lease data into actionable insights
Harness market knowledge, monitor lease metrics and track key space and occupancy indicators in real-time.
- Supports real time reporting and contains several pre-configured reports along with ad hoc report creation capabilities.
- Equip managers to make better decisions with real time information through pre-configured and ad hoc reporting.
- Employ rich, out-of-the-box reports to keep a pulse on fixed and variable occupancy costs, variances in landlord charges and geography-specific nuances.
- Provide standard footnote disclosures to support both FASB-840 and FASB-842 standards.
- Spot patterns, trends and correlations utilizing a robust self-serve business intelligence suite of products, including ad hoc data analysis and visualization.
- Connect lease analytics and mapping to provide richer information for accurate decision making.