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Axxerion Blog

The latest articles on property, lease, maintenance and contract management
Office Building

Service Cost and CAM Reconciliations: Everything You Need To Know

By Property ManagementNo Comments

Property management systems, Lease Management Systems, and advanced Integrated Workplace Management Systems (IWMS) need to manage the Common Area Maintenance (CAM) charges and allocations to tenants automatically and smoothly.  Because of the lack of a reliable, automated process, this is usually performed in Excel spreadsheets which is tedious and error prone. Service Costs and CAM Reconciliations Service costs are net charges billed to tenants in a commercial lease and are paid by tenants to the landlord of a commercial property. Service costs often include Common Area Maintenance (CAM) charges where each tenant pays their pro rata share of a property’s…

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March 15, 2019
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Lease compliance - FASB ASC 842 - IFRS 16

New Lease Accounting Standards Compliance (FASB/IFRS)

By Contract Lifecycle ManagementNo Comments

Lease accounting processes are now required to comply with new Accounting Standards Update (ASU) under the FASB 842(US) and IFRS 16(European) standards. This would fundamentally change the lease accounting practices in ways not seen in decades. First to be impacted are public entities (starting 1/1/2019) and then all entities public and private (starting 1/1/2020). They will be required to change the accounting for leased assets such as buildings, vehicles, furniture and fixtures, office equipment, rolling stock, aircraft and manufacturing equipment to name a few. Who in your or any organization has a definitive list of all leased assets? What about…

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February 20, 2019
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CMMS Use Cases

Work Request – Work Order Processes for CMMS

By Maintenance ManagementNo Comments

In day to day managing of the buildings, issues big and small are reported.  A CMMS needs to have the functionality to treat the reported problems appropriately based on their urgency, severity and other factors. It starts with someone calling in to report an issue or submitting it in a portal or by sending in an email.  Depending on how the maintenance group is setup in a company, a call center employee receives the reported issue and creates a service request in CMMS.  A service request is a simple object that captures the issue, the person who reported it, location…

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February 15, 2019
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Penn South Selects Axxerion Property Management and CMMS

By Maintenance Management, Property ManagementNo Comments

January 2019 Penn South (www.pennsouth.coop) in Manhattan selects Axxerion Property Management and CMMS after a thorough review of the systems in the market. Below is the announcement from the organization on their selection. “Penn South is a 15-building, 2,820 unit affordable housing cooperative located in three city blocks in the heart of New York City. The in-house management team has long been an industry-leader in adopting new technologies and implementing best practices and prides itself on providing high-quality service to its shareholders. Penn South recently signed an agreement with Axxerion and will be implementing the software over the coming months….

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February 13, 2019
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business team looking at axxerion software

CMMS with Integrated Emergency Notification

By Maintenance ManagementNo Comments

In day to day management of real estate and properties, there are issues that need to be communicated to the occupants in a timely manner. There are cases when a scheduled repair such as a PM (preventive maintenance) work order on an elevator should be reported to the occupants. In other emergency cases, such as a case of broken main or an unfortunate case of a shooting in the vicinity, the residents need to be immediately alerted. CMMS for Emergency Notifications During the day, the maintenance and emergency issues are reported to the maintenance groups and in off hours they…

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February 12, 2019
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handshake while handing over keys after signing contract

How to Manage Your Keys, Security and Access Using an IWMS

By IWMS, Property ManagementNo Comments

An Integrated Workplace Management System (IWMS) (or Computer Aided Facilities Management –  CAFM system) is expected to manage keys and access for employees and visitors including contractors. Setting up the locks, cylinders and keys The system needs to track the locks, cylinders and keys as types of assets. For each type, all the related attributes need to be collected as database fields and stored with the item. Attaching Locks to Areas and Assets Once you define a lock, you need to be able to assign it to an area, an asset or a vehicle. The assignment should be easy, and…

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January 16, 2019
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industrial photo with axxerion software

What is the Most Efficient Way to Manage your CMMS Customers and Projects?

By Maintenance ManagementNo Comments

As a maintenance service provider in HVAC, electrical, custodial and other disciplines, there are several considerations in selecting a CMMS.  As you sign up a client for any work, you would need to encourage them to setup a contract for long term maintenance which indicates the services, costs and payments and a set of preventive maintenance activities that needs to be done, how often and by who. This is a win-win situation where the client benefits from the preventive maintenance and you would be the best choice for performing this work for the client. CMMS needs to provide the tools…

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January 11, 2019
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business meeting/brainstorming

How to Post a FASB (ASC 842) or IFRS 16 Capitalized Lease into a General Ledger

By Contract Lifecycle ManagementNo Comments

There are two related accounting standard regulations for lease capitalization which will go into effect as of the beginning of 2019. One is ASC 842 which stands for Accounting Standard Codification Topic 842, Leases (ASC 842). ASC 842 is developed by FASB which stands for Financial Accounting Standards Board and used to be called FASB 13. ASC 842 follows the US GAAP. FASB and GASG (Governmental Accounting Standard Board) and a part of Financial Accounting Foundation (FAF) organization. ASC 842 applies to the companies in the United States. The other standard is the European counterpart of ASC 842 which is…

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November 18, 2018
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business people gathered around desk

17 Contract Lifecycle Management (CLM) Software Features

By Contract Lifecycle ManagementNo Comments

Contracts and agreements are an important part of any company’s operations. Some address the legal obligations between the company and other parties and some relate to purchase/sale of products and services among other things. Since contracts are negotiated individually and changes are made on a case by case basis, they require legal reviews and management approvals.  Once a contract is in place, it needs to be monitored for compliance, expiration and renewals and triggered events as required. Amendments and subcontracts need to be generated as needed over the life of a contract. Despite the importance of the contract management process,…

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November 11, 2018
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maintenance button on keyboard replacing enter/return

Paper-Based Maintenance Management to Automated Work Order Conversion (CMMS)

By Maintenance ManagementNo Comments

Axxerion converts clients from paper-based maintenance management and work order systems to complete CMMS automation resulting in significant savings. The paper-based work orders are inefficient and error prone. In a paper-based setup, work orders are generated either manually or through a system on a daily basis. They are then printed, stacked and separated in groups for technicians and vendors. This process already delays the distribution of work orders by at least a day. The technicians stop at the office in the morning and pick up their work orders and then stop back at the end of the day to drop…

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November 5, 2018
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