Case Study: Genesco improves lease management and compliance with Accruent EMS

Genesco reduces lease signing time by 20% with Accruent EMS

Genesco, a specialty footwear and apparel retailer with over 1,500 stores, faced a challenge with disconnected workflows and a lack of visibility across its Legal, Real Estate, and Finance departments. This led to inefficient lease negotiations and a failure to comply with the FASB 842 accounting standard. To address this, the company turned to the vendor Accruent and its Lucernex product suite.

By implementing Accruent's Lucernex solution, Genesco created a single source of truth for lease administration, project management, and site selection. This resulted in synergized workflows and improved collaboration, reducing the time to sign new leases by approximately 20%. The solution also ensured FASB compliance and provided centralized asset tracking, which helped the company identify over $15,000 in savings on printing equipment leases alone.

Genesco