CraftWorks Selects Lucernex as Partner of Choice for FASB Compliance

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CraftWorks implements Lucernex OneClick™ to meet new FASB lease accounting standards

Lucernex

Lucernex

Lucernex’s broad integrations and in-depth reporting will provide immense value to us, while allowing us to have one source of truth during our transition into FASB compliance

CraftWorks Restaurants & Breweries, Inc., the largest craft brewery restaurant operator in the United States, has selected Lucernex OneClick™ to manage their real estate leases and lease accounting.

With FASB Topic 842 and IASB IFRS 16 effective dates looming on the horizon, transparency into leases and lease accounting has gone from recommended to an absolute necessity. Lucernex OneClick is an out of the box solution that provides this transparency to users across the world. The Lucernex Cloud Platform allows OneClick to be available when and where customers need it the most, ultimately allowing complete visibility and a single source of truth.

“Having worked with Lucernex’s solutions previously, I’ve had exposure to the meaningful, personalized support they provide,” stated Maren Martinson, lease portfolio manager, CraftWorks. “When searching for a FASB compliant software, a platform that provided visibility and could easily integrate with our accounting software was mandatory. Lucernex’s broad integrations and in-depth reporting will provide immense value to us, while allowing us to have one source of truth during our transition into FASB compliance.”

Lucernex OneClick is a leading Real Estate Lifecycle Management solution used by companies all over the world. The solution controls real estate costs through proactive lease and contracts management. It is a complete, preconfigured real estate lease management and accounting solution that can have companies up and running in as little as two weeks.

“OneClick is the perfect solution for Craftworks. It was designed for growing companies who need enterprise-level software without the enterprise-level prices,” stated Michael Nuzum, chairman of the board, Lucernex. “FASB’s new regulations have had a huge impact on companies who manage a lot of leases. These impacted companies need a partner who can guide and support them throughout this change. We are excited to be the partner of choice for CraftWorks.”

About CraftWorks
CraftWorks Restaurants & Breweries, Inc. is the largest craft brewery restaurant operator in the country with nearly 200 franchised and company-owned restaurants primarily operating under the Old Chicago Pizza & Taproom, Gordon Biersch Brewery Restaurants and Rock Bottom Restaurants & Breweries brands. As a leader in the craft beer focused casual dining segment, CraftWorks also operates strong regional brands, and employs more than 12,000 people throughout the U.S. All of CraftWorks' restaurant brands have innovative menus with made-from-scratch food and a vast selection of unique craft beer, as well as unbeatable service and loyalty programs with over a half-million active members. Based in Broomfield, Colo., CraftWorks is not only committed to serving its loyal guests, but also the communities in which its restaurants operate. The CraftWorks Foundation has contributed millions of dollars, positively impacting communities throughout the country. For additional information about CraftWorks, the Foundation, and its restaurant brands, please visit http://www.craftworksrestaurants.com.

About Lucernex
Lucernex provides cloud-based Real Estate Lifecycle and Enterprise Contract Management solutions to both emerging and enterprise companies around the globe. Our analytics, market planning, site selection, real estate contract management, equipment contract management, project management, facility management and maintenance management solutions are used by our valued customers every day and helps them drive revenue, reduce costs, ensure compliance and mitigate risk. For more information please visit us at http://www.lucernex.com.

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Suzanne Anderson
Lucernex
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