In recent years, there has been a growing demand for scalable lease administration solutions. This accelerated demand can be attributed to poorly managed lease data and resource constraints in the lease administration department.(more…)
Why companies should consider outsourcing lease administration activities
Supporting the administrative costs of a company’s real estate can be a significant drain on resources. Organizing, managing and monitoring leases is a significant challenge, especially where there is limited in-house support. Any delay in payments or missed timeline can cost companies thousands of dollars.(more…)
Lease Administration: Step-By-Step Guide To Overcome The FASB Compliance Challenges
With the aim of covering some major accounting gaps, the new accounting standards came into force for public companies as of December 15, 2018. To comprehend the impact of the new accounting standards, we spoke to many companies who shared their experiences on the implementation of the new accounting standards. Most of them had the same thing to say – the compliance requirements are nothing like they expected it to be.
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Case Study – How RE BackOffice is assisting a leading retailer with effective and efficient Lease Administration Services
The high attrition rate in the lease administration department remains a big concern for many companies. For a leading retailer, it was no different until they found an effective solution. Here’s their story!
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Lease Abstraction: 7 things to do before getting your leases abstracted
Planning on getting your leases abstracted? Here are 7 things to do before getting your leases abstracted.
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FASB ASC 842 : It’s inevitable : Issues that companies should be prepared for
Did you heave a sigh of relief when the FASB compliance was pushed out to 2021? Your relief may have come a little too soon. Companies who have implemented or started the implementation process can tell you that it’s not an easy transition. This is especially true because the number, term, and type of lease will affect compliance. If your company is yet to get started on the implementation under the new standards, you may want to consider the following issues –(more…)