As public companies have worked over the past two years to comply with new ASC 842 and IFRS 16 leasing standards, they have taken a variety of paths to achieve the initial compliance requirements. Depending on each company’s specific requirements and the extent of their lease portfolios, their journey to compliance may have been comprehensive or might have taken a limited approach with a “path of least resistance” philosophy to minimize disruptions.
However, those companies that took a limited approach using standalone solutions or spreadsheets are now discovering they’re stuck in a dead-end with regard to integrating and optimizing lease compliance within their overall business operations.
As the leading experts in SAP Leasing Solutions for ASC 842 and IFRS 16, we've seen it all and 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.