Case Study: Organizing a Rapidly Growing Portfolio With Leasecake

About Smile Partners

Smile Partners provides back-office resources and services to independent dental practices throughout the Midwest and the Southeast United States. Practices affiliated with Smile Partners have peace of mind knowing operations, purchasing, staffing, marketing, financials, and more are all covered.

The Problem

Smile Partners needed to organize a rapidly growing portfolio. Still, the primary catalyst for selecting new software was adopting the ASC 842 accounting standard. “We looked at a few different options, including LeaseQuery,” Gabe said. “But we needed a platform to support ASC 842 compliance, and Leasecake was the winner.”

The Solution

Leasecake delivers as promised for Gabe’s lease accounting needs. “One example is that we have to export monthly journal entries based on geography,” Gabe said. “I talked to our rep about it, and he quickly showed me how easy it is to flip the right switch and set up the report.

Saving Time

Before Leasecake, Gabe spent much of his time reviewing leases and other documentation for every acquisition. That job is extra challenging with leases not written in clear, concise language. But with Leasecake, he merely forwards everything to our Abstraction Team and then spot-checks the output a few days later.

Quick Answers

When a Smile Partners location manager had to take care of an unusual maintenance issue, there was a question about whether the tenant or landlord was financially responsible. The manager contacted Gabe, who quickly found the appropriate clause in the lease and resolved the issue. With Leasecake, that research took minutes rather than hours.

What Gabe Loves About Leasecake

“One of the many things I love about Leasecake is the commenting feature. I first used it during the abstraction process when I wanted to double-check a rent schedule. So I tagged Heather on the Customer Success team. She responded right away to answer my question and show me how to make updates. I never wait long for a reply when I use that feature.”