SOURCE: Accruent

Accruent

July 26, 2012 07:00 ET

Panera Bread Co. Adopts Latest Accruent Lease Solution

AUSTIN, TX--(Marketwire - Jul 26, 2012) - Accruent, LLC, the leading provider of real estate and facilities solutions, announced today that Panera Bread Company has selected Lease Administration 8 (LA8), the latest generation of Accruent's lease administration solution.

Panera operates more than 1,500 bakery-cafes in more than 42 states, the District of Columbia, and Ontario, Canada. They have used the Accruent suite of retail location management solutions for site selection and project management since 2006. However, Panera sought enhanced lease management functionality from its current solution.

"We were required to use spreadsheets in conjunction with our previous solution," noted Panera Senior Manager of External Reporting Mike Duckworth of the time-consuming process. Panera's continued success in the fast-casual dining market required them to evaluate alternatives to their current method of managing real estate.

"The Accruent solution demonstrates a clear understanding of our business processes and the functionality retailers need in order to achieve ROI," noted Duckworth. Specifically, Panera was impressed with LA8's functionality in co-tenancy, CAM reconciliation and streamlined reporting.

Drawing on more than 15 years of experience as the leader in retail lease management solutions, LA8 represents the "best of the best" of Accruent's previous solutions. The solution was designed through analysis of the best practices of hundreds of leading retail clients.

Duckworth and his team also sought a provider committed to a long-term partnership. By working with Panera to develop an understanding of the financial value they would receive through adoption of LA8, the Accruent team demonstrated their commitment to delivering tangible customer success and established itself as the superior solution provider in the market.

Having already adopted Accruent technology for managing the rest of their retail lifecycle, Panera exhibits an understanding of the fiscal benefits associated with a purpose built lifecycle solution. With the addition of the LA8 solution to complete their lifecycle management suite, Panera is now on target to receive maximum value from Accruent's suite of location performance management solutions.

About Panera Bread Company

Panera Bread Company owns and franchises 1,591 bakery-cafes as of June 26, 2012 under the Panera Bread®, Saint Louis Bread Co.® and Paradise Bakery & Cafe® names. They feature high quality, reasonably priced food in a warm, inviting and comfortable environment. With their identity rooted in handcrafted, fresh-baked, artisan bread, Panera is committed to providing great tasting, quality food that people can trust. Their bakery-cafes have a menu highlighted by antibiotic-free chicken, whole grain bread and select organic and all natural ingredients, with zero grams of artificial trans-fat per serving, which provide flavorful, wholesome offerings. The menu includes a wide variety of year-round favorites complemented by new items introduced seasonally with the goal of creating new standards in everyday food choices. In neighborhoods across this country and in Ontario, Canada, customers enjoy warm and welcoming environments featuring comfortable gathering areas, relaxing decor and free internet access. The bakery-cafes routinely donate bread and baked goods to community organizations in need. Additional information is available on the company's website, http://www.panerabread.com.

About Accruent

Founded in 1995, Accruent provides organizations with enterprise software to manage their real estate and facilities. Accruent consists of four market-leading products for the retail, higher education, wireless, corporate, public sector and commercial property management industries. Accruent's customer base consists of 800+ customers, including 40% of the Top 100 Retailers, 20% of the Fortune 500, four of the top five wireless carriers, 60% of the cell towers in the US, and over 100 leading universities. Customers use its software to acquire, build and maintain their facilities and manage over $100B of expenses annually. Accruent's customer mission is to deliver the highest ROI of any application its customers can implement. For more information, please visit www.accruent.com.