Buying technology for cross-functional teams can be notoriously nightmarish, especially as you dive in and realize you need to expand your scope, shorten your timelines, or overhaul your processes along the way. It can be overwhelming, especially in lease management.
Real estate lease documents are complicated, convoluted, and constantly changing, with big implications for the bottom line (not to mention looming FASB and GASB compliance deadlines) if the process isn’t managed correctly. And yet, for most businesses, the lease portfolio is both the second largest cost center behind payroll and the area of their finances they have the least visibility into and control over.
The right lease management software won’t just spit out compliance calculations – it will transform your business and the way your team works together, surface insights to help you stay on top of timelines and obligations and save you money by making sure you’re leveraging your leased assets as efficiently as possible.
It starts with complete and correct lease portfolio data, and a team aligned on processes, budgets, responsibilities, and goals. It’s easier said than done, but we’ve built a free tool to help companies on the path to compliance manage expectations, timelines, requirements, and teams.
We’ve helped more than 700 companies take control of their lease portfolios and achieve compliance with IFRS, FASB and GASB lease accounting standards, and we’ve seen first-hand how complicated (and time-consuming) that process can be for companies.
In everything we build, we aim to embed and automate industry best practices so our clients don’t miss any potential savings – and don’t have to think twice about it. Whether you choose Visual Lease or another solution, we thought it important to embed these learnings within a planner to help you understand what it takes to hit these deadlines – or even better, get ahead of the curve.
So, we tagged our lease management and accounting experts internally and teamed up with the lease accounting experts at RSM and Grant Thornton to create a convenient tool to help you plan for these important deadlines and map out your plan for success.
The Lease Accounting Milestone Planner is the industry’s most comprehensive tool to help companies plan for FASB and GASB lease accounting standard compliance.
Simply enter the compliance standard you need to comply with and the target date you’re aiming to finish by and we’ll lay out a timeline for you and your team complete with milestones you can easily add to your calendar and resources to help you nail every step in the process.