Enterprise-Wide Lease Census
Ten Places to Look to Find All of Your Leases
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Learn the Five Questions to Ask
- Who Negotiates the Leases?
- Who Provides the Leases?
- Who Manages the Leased Assets?
- Who Reports on the Leases?
- Who Pays for the Leases?
Identify Leases in Categories:
- Real Estate
- IT and Data Center Technology
- Vehicle Fleets
- Material Handling Equipment
- Office Furniture and Equipment
How to Conduct Your Enterprise-Wide Lease Census
Since the publication of the new lease accounting rules, one of the most common questions asked by Fortune 500 companies is – How do I find out what we lease? In most cases, your real estate team knows what buildings we lease. But what about all the other things you lease – photocopiers, office furniture, laptops, servers, forklifts, trucks, cars or even aircraft?
It might sound surprising that big companies would not know what they are leasing, but it is understandable when you consider that most large organizations have highly decentralized leasing processes.
Of course, it is inaccurate to say that any company doesn’t know what they lease. Various people within the organization know exactly what is leased and what is owned. But the leasing data is not centralized into a single database. And in fact, until the recently announced lease accounting changes, there was little accounting motivation to track all leases in a single enterprise-wide application.
But creating a master list of your leases is actually not that hard. It is simply a matter of identifying the individual people within the organization that know what buildings, vehicles, furniture, laptops and other equipment is being leased.