Where are you at in your leases project? Have you settled on a lease accounting system? Do you have a plan for how you will gather all of your leases and begin pulling the critical data together? How confident are you that you’ve identified all of hiding places in your organization for the lease information including shared folders, binders, SharePoint sites, filing cabinets, spreadsheets, George’s desk, and even camouflaged within other agreements?
One thing we can be confident about—if the new accounting standards have highlighted your organization’s critical need to better manage all of your contracts and agreements, you’re not alone.
Of course, I’m about to tell you that we can help!
- policyIQ is centrally accessible and easy to populate—helping you to bring order to all of your decentralized structured and unstructured lease data.
- Easily customize templates and standardize the approach to capturing lease data (and complement your lease accounting tool).
- Use reports within/across leases to examine data and identify gaps.
- Customize workflow and leverage policyIQ’s secure platform to request specific data from specific individuals and fill gaps.
- Attach reference materials or supporting documentation, as needed.
- Customize policyIQ for each area to store executed leases and track lease data on an ongoing basis.
- Simplify oversight for management review at a high level.
- Implement controls and data governance providing evidence of entire data collection process and resulting data.
And if you’re not sure that you have adequate leasing talent on staff, RGP can support you with subject matter expertise to lead and/or support your team and ensure successful implementation of the new standards. If you haven’t worked with us in the past, what you will experience is a different level of professional partnership. We will transfer knowledge and leave your team better equipped to address challenges that arise in the future.
Contact us to learn more about our talent and technology to support your data collection, contract review, compliance, audit, policy management and other initiatives. We’re looking forward to working with you!