Our expertise also spans into Government Accounting Standards Board compliance (GASB) for industries such as government, public higher education and not-for-profits.
3. Gathering lease data is only the first step
Today, many companies are using spreadsheets to track leases, making it nearly impossible to extract the necessary data. Replacing those spreadsheets with a scalable system and a disciplined approach to lease administration management is no longer just a “nice to have” wish list item; it’s a business requirement. In fact, a PwC/CBRE survey found that almost half (43%) of respondents said they expect to implement a new lease management system to comply with the standard.3
Our lease accounting systems and processes reduce the number of manual touchpoints, decrease the risk of errors, integrate lease data with AP and ERP systems and improve reporting capabilities.
Accurate, complete data is all in one place and available for reporting, analysis and compliance. Our turnkey lease administration solution collects and integrates your lease data, automates workflows, works across platforms and helps you comply with new FASB and IASB lease accounting regulations.
4. With FASB & IASB lease accounting deadlines looming, time is running out
The 2018/2019 compliance deadlines are around the corner and there’s much work to get done. For many businesses, the new guidelines mean an organization-wide overhaul — with just months left. Now is the time to start. Even government, public higher education, non-profit and other industries with later GASB deadlines benefit by beginning the transition now.
The size of the initiative can put a substantial strain on in-house resources that are already stretched thin. Working with our specialized experts keeps the work on schedule and complete by the deadline.
With RICOH Lease Administration Services, you get a specialized implementation, data migration, abstraction and integration partner.
Using our proven practices and deep knowledge of lease administration, we can help you be compliant in as little as six months. Your tailored solution delivers automation, improved management and scalability.