ValuD: TRIRIGA lease accounting tool to meet FASB/IASB compliance


The new FASB/IASB leasing standards have created ripples in the facilities industry with companies scrambling to achieve compliance before the 2019 deadline. Unfortunately, many of the organizations who fall under this statute do not have a streamlined lease administration process… Accounting and consulting firms have leveraged their technical expertise to guide companies in their path forward.

One such global audit, tax, and advisory firm elected to develop and market a hosted lease management tool to aid their clients in achieving FASB/IASB compliance… The firm selected IBM TRIRIGA for its extensive out-of-the-box capabilities, but wanted to add validations like specifications for when to review assumptions and to ensure accountability of balance sheet accuracy. The firm wanted to leverage the enhanced functionalities of the IBM TRIRIGA Real Estate Manager and selected ValuD as their strategic partner for implementation and development…

The leasing tool had to be adaptable to include future enhancements and had be deployed seamlessly to the firm’s customers. As a result, a hosted delivery model was chosen to ensure customers were on the latest release… The lease accounting tool was one of the first to be launched in the market exclusively for leasing standard compliance. The firm attracted new clients which created a new revenue stream. The firm’s clients achieved statutory compliance, gained better control over their lease portfolio and process efficiency, and improved security with the hosted model…

[Admin: To see other related posts, use the ValuD tag.]

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