LeaseSolution is a progression from a lease portfolio management business started in 1992. Having designed and produced a first-generation system for the old business, the same founder established LeaseSolution 20 years later, primarily to develop LS2. Our specialist software is unique in combining both lease management and lease accounting in a single system. This’ addresses the challenges of IFRS16 and ASC842 new lease accounting whilst maintaining ongoing data integrity through comprehensive portfolio management.
Preparing’ Lease Portfolios
To meet new lease accounting compliance, portfolio data needs to be collated and each’ lease judged and categorised. The impact of the three transition options then needs to be measured and important decisions made. The task even’ more complicated because of ‘ the lack of suitable systems and processes. In many cases, leases for properties and a variety of other assets are contained within spreadsheets, or several different archaic systems. Documents and data may be confused, mislaid, unmanaged or scattered across different sites and separate countries. LS2 has been designed and built over the past 5 years to simplify and automate the entire transition process and beyond. With limited time remaining, this functionality will become a critical tool to those now preparing to meet lease accounting compliance.
LeaseSolution ‘“ The Specialist Answer To All Your Leasing Issues
With 25 years portfolio management experience and a unique system with the critical combination of lease management and lease accounting functionality, we are well positioned to provide unparalleled assistance through the three stages of IFRS16 and ASC842 compliance: preparation; transition; and ongoing reporting, management and control. We have a solution for all three stages that simplifies the overall process, saves time, reduces cost and will ensure that compliance is met in a timely fashion. Thereafter, LS2 sets company-wide controls’ to maintain data integrity for future’ financial reporting.
The Right Experience And Expertise
This has been our specialist subject for the past 25 years at LeaseSolution, allowing us to bring a confident and intuitive approach to simplify what could easily become a complicated and expensive saga with IFRS16 and ASC842 compliance. Our past responsibilities have included long-term involvement with many blue-chip companies such as 3m, HJ Heinz, Veolia Water, WH Smith, and GE on a global scale. This included gathering, evaluating and organising lease portfolios, preparing for ongoing management and financial reporting
Our 25 years’ hands-on experience in delivering client lease portfolio management services, was invaluable and critical to the development of LS2. We learnt from the limitations of our previous two systems and included flexibility and agility within LS2 that is completely unique and unparalleled by any other.