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They Said ASC 842 Compliance Was Easy, But Was It Really?

Mon, Jan 7, 2019 @ 08:51 AM / by Bramasol Leasing Administration Team

They promised that a standalone solution would work as well as any integrated solution and that integration and data management/migration were easy. And, that reporting is a snap. But is it really?

As the leading experts in SAP Leasing Solutions for ASC842 and IFRS 16, we know what works. Integration can be hard. Data validation is required far more than you expected and reporting is anything but a snap, especially if you need data from your ERP as well as your leasing solution. 

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What if you could have a solution that:

• Is fully Integrated with SAP, now and in the future 
• Relies on the same SAP Master Data, including vendor, asset, and GL
• Has disclosure reports that provide drill down, drill through AND drill back capability
• Is certified by a Big Four accounting firm to provide correct accounting and journal entries.

You’d want that!

With SAP Contract and Lease Management (CLM) you can have it all and more. It is the most comprehensive and feature rich leasing solutions for SAP users and is fully integrated with SAP ERP and SAP S/4 HANA. Together with Bramasol’s Disclosure Reporting Tools, it also provides complete disclosure reporting capabilities in accordance with ASC 842 and IFRS 16, while allowing you to drill down from the highest level to the lowest and even back to the actual lease contract or asset with just a mouse click. And, because SAP partnered with PWC to certify the solution you can rest assured that you will spend less time proving out to your auditors that you have complied. 

Best of all, you don’t have to start from scratch. We have helped companies just like you move from disconnected or stand-alone systems to integrated solutions leveraging the data, classifications and report structures you have spent time on. 

If you have managed to comply with a stand-alone solution congratulations. Now it is time to take it to Phase 2 and check out SAP Contract and Lease Management.  

Visit our website to learn more or click here to Request a Demo. 

At Bramasol we want to help you turn compliance into competitive advantage and to lay the foundation for your finance transformation.

Topics: Leasing-Hot-Tips, SAPLeaseAdmin

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