MARKETING
How to Cut Costs & Improve ROI with Lease Management Software
As a corporate occupier, managing lease portfolios is inevitable, and ensuring they are properly managed is essential. However, a large lease portfolio makes keeping track of all the obligations and deadlines regarding each lease more challenging. Understanding and effectively managing all aspects of a lease is key to ensuring that business is done properly and that financial aspects are monitored. Failing to get deep insights into lease details can cause unnecessary expenses and lack of compliance when it comes to lease accounting standards. Fortunately, lease management software can not only help businesses avoid such situations but it can also provide the necessary tools to reduce unnecessary costs and maximize the return on lease investments. Here’s how lease management software can help you manage your lease portfolio.
Improved Visibility
To best manage a lease and all obligations associated with it, having a deep understanding of all details associated with it is key. This includes everything from critical dates, reports, updates, modifications and terminations, among others. Having all this information in a single, centralized system with easy-access increases visibility and productivity when it comes to tracking leases. This is essential to mitigating risks and staying on top of all important aspects of your leases. Lease management software allows you to access all lease information easily and efficiently, providing you with the assurance that all decisions and actions made regarding a lease are completed in a timely and accurate manner to avoid penalties or additional costs.
Actionable Insights
The best way to determine how to cut costs, reduce risks and even influence revenue is by looking directly at the lease data. Lease management software, by storing all lease information in a single, centralized location, enables easy access and the possibility of turning the available data into actionable insights. Being able to calculate tenancy costs, knowing the risk exposure and understanding the real estate optimization opportunities are essential to saving costs and increasing revenue. As such, you can be sure that all decisions made regarding a lease are based on relevant information to ensure they are effective for your business.
Improved Analysis
Being able to identify and access all lease information that is valuable to your business to make decisions about the future is essential to reducing costs and improving ROI. As such, being able to analyze your leases and the corresponding terms allows you to make the best decision regarding the future of those leases. Whether it is terminating a lease early, terminating it on time, renewals or even changes to an existing lease, it’s necessary to properly analyze the terms, obligations and special clauses of a lease to determine what the best course of action is regarding that lease. And understanding a lease as much as possible can help in making the best cost-effective decisions for your business. Whether it’s renegotiating a new lease monthly rent, removing costs for unused services and even challenging costs for services not included in the lease term, with lease management software you are in the position of ensuring that any decision made regarding your lease portfolio will reduce costs and improve the
ROI for your business.
Reporting and Compliance
Lease management software is a great tool for your team to use when managing the company’s lease portfolio as it makes reporting and compliance easy and accurate. It allows for everyone responsible to have access to lease information to work together to make cost-effective decisions and strategies. Furthermore, with the help of lease accounting software, companies can become ASC 842 compliant by having the tool that can automatically generate a report according to FASB reporting standards. Companies can be sure that reports are accurately submitted on time and that no extra money was spent on additional resources needed to report leases through the balance sheet.
Reducing costs and improving ROI are some of the main goals for companies as they support the overall success of the business. Fortunately, when it comes to corporate leases, these goals can be supported with the help of tools, like lease management and lease accounting software, which help keep all lease information in a centralized location, enabling those responsible to access it and make the best lease decisions for the company.
MARKETING
Trends in Content Localization – Moz
Multinational fast food chains are one of the best-known examples of recognizing that product menus may sometimes have to change significantly to serve distinct audiences. The above video is just a short run-through of the same business selling smokehouse burgers, kofta, paneer, and rice bowls in an effort to appeal to people in a variety of places. I can’t personally judge the validity of these representations, but what I can see is that, in such cases, you don’t merely localize your content but the products on which your content is founded.
Sometimes, even the branding of businesses is different around the world; what we call Burger King in America is Hungry Jack’s in Australia, Lays potato chips here are Sabritas in Mexico, and DiGiorno frozen pizza is familiar in the US, but Canada knows it as Delissio.
Tales of product tailoring failures often become famous, likely because some of them may seem humorous from a distance, but cultural sensitivity should always be taken seriously. If a brand you are marketing is on its way to becoming a large global seller, the best insurance against reputation damage and revenue loss as a result of cultural insensitivity is to employ regional and cultural experts whose first-hand and lived experiences can steward the organization in acting with awareness and respect.
MARKETING
How AI Is Redefining Startup GTM Strategy
MARKETING
More promotions and more layoffs
For martech professionals salaries are good and promotions are coming faster, unfortunately, layoffs are coming faster, too. That’s according to the just-released 2024 Martech Salary and Career Survey. Another very unfortunate finding: The median salary of women below the C-suite level is 35% less than what men earn.
The last year saw many different economic trends, some at odds with each other. Although unemployment remained very low overall and the economy grew, some businesses — especially those in technology and media — cut both jobs and spending. Reasons cited for the cuts include during the early years of the pandemic, higher interest rates and corporate greed.
Dig deeper: How to overcome marketing budget cuts and hiring freezes
Be that as it may, for the employed it remains a good time to be a martech professional. Salaries remain lucrative compared to many other professions, with an overall median salary of $128,643.
Here are the median salaries by role:
- Senior management $199,653
- Director $157,776
- Manager $99,510
- Staff $89,126
Senior managers make more than twice what staff make. Directors and up had a $163,395 median salary compared to manager/staff roles, where the median was $94,818.
One-third of those surveyed said they were promoted in the last 12 months, a finding that was nearly equal among director+ (32%) and managers and staff (30%).
Extend the time frame to two years, and nearly three-quarters of director+ respondents say they received a promotion, while the same can be said for two-thirds of manager and staff respondents.
Dig deeper: Skills-based hiring for modern marketing teams
Employee turnover
In 2023, we asked survey respondents if they noticed an increase in employee churn and whether they would classify that churn as a “moderate” or “significant” increase. For 2024, given the attention on cost reductions and layoffs, we asked if the churn they witnessed was “voluntary” (e.g., people leaving for another role) or “involuntary” (e.g., a layoff or dismissal). More than half of the marketing technology professionals said churn increased in the last year. Nearly one-third classified most of the churn as “involuntary.”
Men and Women
This year, instead of using average salary figures, we used the median figures to lessen the impact of outliers in the salary data. As a result, the gap between salaries for men and women is even more glaring than it was previously.
In last year’s report, men earned an average of 24% more than women. This year the median salary of men is 35% more than the median salary of women. That is until you get to the upper echelons. Women at director and up earned 5% more than men.
Methodology
The 2024 MarTech Salary and Career Survey is a joint project of MarTech.org and chiefmartec.com. We surveyed 305 marketers between December 2023 and February 2024; 297 of those provided salary information. Nearly 63% (191) of respondents live in North America; 16% (50) live in Western Europe. The conclusions in this report are limited to responses from those individuals only. Other regions were excluded due to the limited number of respondents.
Download your copy of the 2024 MarTech Salary and Career Survey here. No registration is required.
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