最近的变化FASB, IFRS and GASBregulations, organizations have increasingly focused on the lease accounting side of their business. This makes sense, of course, as a failure to attain compliance canlead to penaltiesand cause organizational chaos down the road.
However, more and more organizations are forgetting the lease management side of their business, or they’re searching for solutions that focus solely on lease accounting and not lease management. This is ultimately short-sighted. By focusing strictly on lease accounting when searching for a software solution, organizations lose sight of the opportunities offered by managing their entire lease portfolio with one solutions, namely, operational efficiencies and costs savings.
Why You Need Lease Management Tools
Too often, organizations find themselves reliant on old or outdated tools for lease management. The most common of these is, of course, spreadsheets. An overreliance on Microsoft Excel and otherspreadsheet platformswill limit the lease management capabilities of any organization.
However, selecting just any software solution can be dangerous as well. With the implementation of ASC 842, IFRS 16 and GASB 87 standards, thousands of companies globally now require a solution with expanded depth and a comprehensive reporting method.
A myriad of different software solution vendors have appeared as a quick fix to meet this need, offering varying degrees of low-cost functionality. With a pressing need for an accounting solution, accounting departments have often ended up purchasing lease solutions that didn't include lease management – sequentially limiting its capability.
Lease Management in the Age of COVID-19
During the COVID-19 pandemic, having a handle on your lease data is more critical than ever. Retail organizations have discovered this firsthand, with many moving locations to better accommodate co-tenancy and their customers' desire for more options when it comes to shopping, such as buy online then pick up in-store.
Organizations should be looking to negotiate more flexible lease terms, allowing them to shorten lease terms and stipulations.
时间又一次，零售组织主要是主要的租约的困难情况，因为租赁条款如何 - 通常被捆绑在长期租赁条款或在试图谈判时面临严重的惩罚。
A Solution that Does Both
Now that the dust has settled on the latest lease accounting standards, companies have realized that they need a solution that offers a full suite of lease management capabilities.
滚球体育比滚球体育比分直播Accruent的LX合同offers both lease administration and lease accounting, helping organizations manage complex real estate and equipment lease scenarios, mitigate risk, and achieve FASB and IASB compliance.
Our Lx Contracts solution scales with the business, providing organizations a solution that grows alongside them. From real estate portfolios to equipment and operational leases, Lx Contracts gives organizations a solution that spans the gaps between departments and allows for a streamlined, easily attainable compliance process. Having both real estate and accounting on one solution – under one metaphorical roof – brings teams together and makes processes that were once challenging, simple.
With LX Contacts, lease data is readily available and referenceable for any user at any time.
By pivoting to a comprehensive, sophisticated solution that focuses on lease accounting and lease management, organizations will be setting themselves up for both the short and the long term. Gaining lease visibility across your portfolio will positively impact current and future financial decisions.