Digitize your leasing program and integrate it into a reliable and accurate global close process.
For many firms, compliance initially appeared to simply be a question of applying known calculations, judgements, and policies against the data in their lease portfolio. What these organizations are now finding is that maintaining the completeness and accuracy of this data moving forward is an extremely complex process of considerable scale that requires business process changes. Only through the application of advanced technology can this challenge be overcome.
Introducing Lease Accounting 2.0 by LeaseAccelerator.
Accounting for Complexity
Automate policies, judgements, and decisions.
With many solutions, challenges like lease classification, variable rent, non-lease components, and short-term leases with reasonably certain renewal options are passed off to staff to deal with manually. This human intervention introduces costs, delays, and risk of errors.
LeaseAccelerator provides companies with a true lease accounting subledger that automates the application of judgements and decisions based on consistent policies and advanced logic, eliminating unnecessary cost and risk to drive the evolution to Lease Accounting 2.0.
Challenges of Ongoing Compliance
- Ensuring continuing accuracy and completeness of lease data to withstand audit scrutiny
- Managing data to support the global close without significant investments in additional headcount
- Documentation to create an audit trail and prove consistent application of accounting policies
Hidden Costs of Lease Accounting
Learn about the hidden costs and of the new lease accounting standard and potential solutions.
Lease Lifecycle Management
Leverage technology to ensure completeness and accuracy of your lease accounting data.
Maintaining complete and accurate lease accounting data requires the ability to constantly capture and record all of the changes that occur to leases and their underlying assets over the lease lifecycle as part of the monthly close. This means regularly communicating with asset users to confirm the status. For any reasonably sized portfolio, this quickly becomes unscalable as a manual process.
LeaseAccelerator fully automates the process of stakeholder communication using a defined workflow and alert structure. It generates emails with automated forms, interprets and records the responses, and creates audit trails – all without the cost and risk of human intervention.
Manage the New Global Close By:
- Digitizing the ongoing processes around lease accounting
- Automating lease management to ensure completeness and accuracy of lease data
- Leveraging technology rather than people to reduce the risk of human error as well as costs of additional headcount
The Right Partner for Long-Term Support and Success
Align with a partner who delivers world class training, customer support, and success.
With any process evolution, success depends on the dedication of your vendor in standing by you from the very start and throughout the life of your solution. Choosing LeaseAccelerator means that experts who understand lease accounting – not just software – are with you from the very beginning, getting your system up and running, training every member of your core team, and answering any and all support questions quickly and effectively. Our customer renewal rate is well over 98% precisely because we stand behind our technology now, and as long as you use it.