Modules

Here is the hierarchical relationship between Lucernex modules.

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The Portfolio is the umbrella entity containing Sites, Projects, and Locations. Locations have these child entities:

• Equipment contract

• Parcel

• Stand-alone equipment asset

• Facilities with real estate contracts. One of the facilities has a capital project as a child, which is shared with a program.

There is also a program with two capital projects. The portfolio, site, project, location, one of the facilities, and the equipment contract have equipment assets as children. There are two prototypes that are separate from the hierarchical structure.

In Lucernex, a Portfolio is the umbrella entity in the system that all other entities belong to. Your organization can use a portfolio for a brand, geographical area, or for any other system of classification. For example: the Blackwood Furniture Stores portfolios, the North American portfolio, the Retail portfolio. There can be more than one portfolio.

You can use the Program module to group and manage capital projects. You can view your schedules and budgets from a high-level. Example uses:

• HVAC upgrades

• Store refreshes

• Signage updates

• Parking lot re-stripes

The Program module also has a purpose-built Program Bidding sub-module. The Program Bidding sub-module includes the following features:

• a Q&A component which makes communication between internal and external participants easy

• one central place for managing the bid packages on a project

• one central place for bidders to manage, create, and condition their bids

  Bidders have multiple options for entering costs:

  • They can enter a total cost for a line item and split it across all capital projects in the program,

  • They can enter the cost per project and have Lucernex auto-calculate the total, or

  • They can enter unique amounts for individual capital projects.

• configurability

After you’ve awarded a bid at the program-level, Lucernex pushes the costs that you’ve approved and awarded down to the individual capital projects. This reduces your overheard when you’re managing large volume programs and allows you to immediately kick off the next phase of the capital projects in the program.

The Prototype module is used to create and manage templates for construction projects. For example, a retailer may have three standard prototypes: a small store, a medium store, and a large store. Stores falling in these three categories would all share a common or similar floor plan. Prototypes are not tied to geography or an entity chain and are typically only used for new builds. The Prototype module is not directly linked to any other module.

Arguably, the most heavily used section of the Prototype module is the Documents page. The Documents page of a prototype is often used by clients to house floor plans, architectural documents, MSAs, and other documentation.

The Change Management sub-module can be used for tracking minor updates to a prototype. Major updates may correlate with an entirely new floor plan or design initiative. Work with your management team to determine the distinctions between major and minor changes.

The Site module helps you determine the best place for your new facilities. You can use the Site module to assemble and submit site selection data to your real estate committee. The Site module also integrates with Intalytics, a third-party demographics tool that you can use to capture insights into your potential markets. You can also store data about nearby competitors, anchors, and tenants on the Summary page:

Once you have selected a site, you can convert the site to a project. When you convert a site to a project, you can move all site data to that project, and either:

• Create a new location at the same time and delete the site record.

• Link the project to an existing location that you select and delete the site record.

To convert a site to a project, your organization must first purchase the Project module and request it to be enabled.

A limited version of the Site module is displayed if your organization uses the RE Transaction sub-module and has not purchased a license for the Site module

You can use the Project module to manage your organization's projects including schedules, budgets and project documentation once a site is chosen. For instance, before you create a project such as a new building, you can complete a site selection process in the Site module and then convert a site to a project. When you create a project, you can either create a new location and link to it or link to an existing location.

These sub modules and pages are available from a Project depending on the configuration your organization and System Administrator have chosen:

• Demographics: Manage site planning and forecasting with the Intalytics integration.

• Equipment: Manage equipment associated with your project.

• Pro Forma Lease: Generate financial statements to facilitate comparisons of historic data and projections of future performance.

• Bidding: Create and manage bids depending on your role, such as solicit, collect, and manage bids from bidders including Q&A between internal and external participants.

• Cost Tracking: Manage construction costs and invoicing on your projects and capital projects.

• Reports: Create and manage reports associated with the project.

The Parcel module helps you manage the parcel access records and property taxes associated with the lots, plots, or land you own. Parcels are children to locations, and parcels can be linked to one or more RE contracts.

A location in Lucernex is the physical place where one or more of your facilities is located. Locations are created either before or at the same time as a project, after the site selection has been finalized.

Locations can have a one-to-many relationship with your facilities—for example, there can be multiple offices in a building, or stores in a shopping mall. The Location module can also be used to store data about the complex or center where your facilities are located, the equipment stored or utilized at the location, or any work orders associated with the equipment.

An important thing to remember about locations is that tax rates stored at the location-level filter down to your contracts and equipment contracts unless they are overridden.

Record details about a space. For example, once a project to build an office is complete, you can use a facility to record details about that office. A location can contain multiple facilities such as, multiple offices in a building, or multiple storefronts in a shopping mall.

You can link a real estate contract or a capital project to a facility from the facility's Summary page or in the Setup Wizards.

A capital project is created when there is work to be done on an open operating facility with the exception of relocation scenarios. Capital Projects can be created from two areas in the application: from the Program module and the Facility module.

The Capital Project module also has a purpose-built Bidding sub-module. The Bidding sub-module includes the following features:

• a Q&A component which makes communication between internal and external participants easy

• one central place for managing the bid packages on a project

• one central place for bidders to manage, create, and condition their bids

• configurability

The Lucernex Contract module allows users to create, track, and manage real estate lease contracts. The Contract module is compliant with the ASC 842, IFRS 16, and GASB 87 lease accounting standards and can be readily made SOX compliant. There can be more than one contract associated with one location or one facility.

The Contract module includes:

• Details: Basic contract information such as users assigned to the contract and documents

• Abstract Info: Lease abstract information such as terms, covenants, and key dates

• Payment Info: Expense schedules and one-off payments

• Accounting Info: Load accounting assumptions, run ASC 842 tests, and create and manage accounting schedules

• Accrual Info: Create expense and percentage rent accruals

The Lucernex Equipment Contract module allows users to create, track, and manage equipment lease contracts and equipment assets. The Equipment Contract module is compliant with the ASC 842, IFRS 16, and GASB 87 lease accounting standards and can be readily made SOX compliant.

Equipment Contracts can be associated with a location for tax purposes but are not always linked to a location. Equipment Contracts can have a one-to-many relationship with equipment assets (the equipment itself). For example, you could have one contract which covers 200 photocopiers.

The Equipment Contract module is broken into four parts:

• Details: Basic contract information such as users assigned to the contract and documents, and equipment assets

• Abstract Info: Lease abstract information such as terms, covenants, and key dates

• Payment Info: Expense schedules and one-off payments

• Accounting Info: Load your accounting assumptions, run ASC 842 tests, and create and manage your accounting schedules

Equipment Assets are most often associated with Equipment Contracts, but can also be associated with Portfolios, Sites, Projects, Locations, and Facilities. An equipment asset cannot be associated with more than one entity, but entities can be associated with multiple equipment assets.