Accounting groups from geographically disbursed global business units were able to upload leases easily for Corporate Accounting access.
Better lease portfolio management
The Company now has better visibility of all leases and evergreen reporting capability to track lease terminations. In addition, they can automatically convert different currencies and integrate with multiple ERP systems.
Automation for ASC 842 compliance
Having all lease information in one system made it easy for the Company to generate journal entries, perform reconciliations, and run the necessary reports to be compliant with ASC 842.