Are you considering starting a new equipment leasing program? Or putting more focus on your existing program to comply with the new lease accounting rules? If so, our team of leasing experts can help advise you on best practices. We work with numerous Fortune 500 companies who have optimized their equipment leasing programs and saved millions in the process. From finding more competition to bid on your leasing RFPs to helping you close your books each month, our professional and managed services teams can assist you.
Enterprise Leasing Strategy
Use our Best Practices
Are you following best practices for real estate and equipment leasing? Are you using competition to drive down financing costs? Are you using software to track end of term and minimize evergreen payments?
If not, our team of leasing experts can help you redesign your business processes to take advantage of industry best practices.
We will evaluate your processes, controls, systems and organizational design to identify areas for improvement. Whether you are trying to simply comply with new accounting rules or find a few million in savings, we can assist. Our team can custom design a enterprise leasing program that meets your specific goals – even for complex decentralized models in which tens of thousands of people are authorized to initiate a lease.
We can help you quickly implement your leasing program as well. We will track down all of your leases and upload them into a centralized database. Whether they are centrally warehoused on Sharepoint or scattered across a thousand file cabinets, we will find the leases and convert them into electronic format. Then we will compare our files to your general ledger and ERP to identify and reconcile inconsistencies.
Sourcing New Equipment Leases
Save 6-8% with Competitive Bidding
Are you looking to get more competitive financing rates, but struggle with where to find the time to manage an RFP and bidding process? No problem. Our Equipment Lease Sourcing experts can help. We’ve helped negotiate several hundred billion of equipment leases over the past five years in countries around the world.
Generating the RFP
First, we will help you write an RFP that outlines the types of equipment you are looking to finance and the types of contract terms you are hoping to receive. Then we will match your RFP to the leasing companies that can best support your credit rating, ticket size and geography. Think LendingTree for Leasing. We maintain relationships with over 500 leasing companies around the world.
Selecting a Bid
We will analyze and rank the bids helping you reach a short list of proposals. And if for some reason there isn’t enough competition, we will get on the phones and recruit more leasing companies to bid. You pick the winner and we will notify the rest. We can even support your legal team as you negotiate Master Lease Agreements using our standardized contracts.
Managing the Day-to-Day Leasing Program
Let Our Experts Do the Heavy-Lifting
Would you like to do more real estate or equipment leasing, but don’t have the leasing expertise in-house to support a higher volume of activity? We can take all of this complexity off your hands. Let our leasing experts apply best practices to manage mid-term and end-of-term for you.
We can act as an extension of your finance department, performing all the day-to-day activities to keep your equipment leasing program on track. We will manage the dialogue between you and your leasing companies, routing all POs, term sheets, lease schedules and certificate of acceptances back and forth to the appropriate people. We will make sure each leasing document is uploaded into our system, first checking for all the proper signatures and making sure what you ordered is what you actually received.
ERP & General Ledger
We can help setup integration between LeaseAccelerator and your ERP or General Ledger. Our technical teams have experience connecting to SAP, Oracle, Ariba and other popular accounting applications. Once our applications are connected to yours we will monitor the data on both sides to make sure it is accurate, complete and up-to-date. Where inconsistencies exist, we will take ownership for reconciling them.
Mid-Term and End-of-Term
Put an End to Evergreen Fees
Are you losing money on your leasing program? You are not alone. Even the largest and most innovative companies are leaving millions of dollars on the table by not better managing leases at the end of their term. Our leasing experts can help you pinpoint where the losses are coming from so you can stop the bleeding.
During the course of a 36 or 48 month lease a lot can happen. Equipment might move from place-to-place. It might get reassigned from person-to-person. Your company might reorganize, offshore or start a merger. We will track how all of these changes impact your leases, ensuring that you can accurately account for each piece of equipment. And we will also make sure the leasing company’s systems are kept up-to-date so the right taxes are paid.
End of Term
For each lease coming to term we will send you a package analyzing the economics and logistics of various options. You decide whether you want to renew, return or buy out the equipment. We will make sure that all the right people are notified and all the necessary documentation is submitted to the leasing company. Our team will send emails, make phone calls and even camp out in your lobby (if necessary) to make sure you never miss a deadline and never pay evergreen fees again.
Quarterly Financial Reporting
Monthly Close, 10-Qs and 10-Ks
How many weeks does it take for you to produce monthly and quarterly reports on leasing? Does your process involve rolling up spreadsheets from various different countries into a consolidated report that no one is really sure is 100% accurate? Let our leasing experts handle your financial reporting for you. We can do in minutes what it takes most companies weeks to do.
We will produce all the debits, credits, amortization schedules and other accounting details needed for your monthly close process. Our team will track everything that happened during the month from new leases and renewals to equipment disposals and buyouts. Once we have completed all the necessary accounting, we will upload the journal entries into your Oracle or SAP system, ensuring everything reconciles between our system and yours.
Reconciliation & Reporting
We will generate all the monthly reports you need for Wall Street (10Qs/10Ks) and your CFO (internal budgeting and cash flow assessments). We will compare all the numbers making adjustments in prior periods or recording catch-up adjustments in current periods as necessary. So you can take a little R&R of your own knowing that everything ties together.
Learn More about Enterprise Lease Accounting
White Papers, Handbooks and Research Studies
Authored by PwC, this white paper explains the complex world of equipment leasing including the key organizational, process and systems challenges associated with managing assets such as airplanes, medical devices and construction equipment to furniture, laptops and printers.
There are some similarities between real estate and equipment leases. Both have been neglected and under-funded at most organizations. There has been little investment in the people, systems and processes to support real estate and equipment leases.
Learn the 15 Critical Success Factors for Equipment Leasing. Learn how to standardize your lease versus buy analysis; how to competitively source financing; and proactively manage your end of term. By applying these industry best practices you can save millions.