Global Manufacturing Company Automates through ASC 842 Transition

Thanks to LeaseAccelerator Lease Accounting Software

Learn how a multinational manufacturing company automated the ASC 842 compliance process to improve case flow and time savings.

  • Compliance – This Company successfully transitioned to ASC 842 on January 1, 2019. The accounting team was able to perform the monthly close on time and file its first interim statement (SEC Form 10-Q) in March 2019. 
  • Management – The Company’s leases were scattered throughout the globe, and the accounting team quickly realized they had more leases than they thought. LeaseAccelerator allowed the Company to easily centralize their leases.
  • Cost Savings  The accounting team has used the evergreen report to ensure leased assets are being returned on time and payments are being stopped. Plus, automating through LeaseAccelerator reduced costs as well.