The consensus is that the task of data collection to implement the new accounting standards is a daunting one.
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!
Is your project for bringing your company into compliance with the Revenue Recognition Standard underway?
With the January 2018 effective date fast approaching, organizations (public, private, and non-profit) are pressed to come up with a plan to review each of their agreements, and for each one that is in scope, to work through each of these five steps:
RGP’s Revenue Recognition subject matter experts (SME) have developed an approach that effectively addresses all steps of the complex standard. And, again, RGP has gone the extra distance to develop a technology solution that will help you to tackle this effort. Beyond the repository for contracts and the secure data room for document review and project management, policyIQ now has a solution to both simplify and standardize detailed contract reviews while providing oversight, progress reporting, visibility for management review, and evidence for external auditors.
If you haven’t yet defined your approach for assessing your organization’s contracts and setting a course for compliance with ASC 606 by the deadline, don’t worry. We have a complete, cost effective solution and we’re ready to help you make up some ground. Contact us for more information.
You worked for months (years for some), listening to promises from several different people who kept handing you off and never addressing your concerns. You found yourself with more time and money invested than you care to admit and you have grown to look at all software providers with skepticism (if not disgust).
Does this sound familiar?
I hear you. Your frustration was echoed by countless people that I spoke with at a national conference in March. Because a number of people felt compelled to share their horror stories about other providers with me, I got comfortable jumping quickly to the things that make us different than the typical software company:
RGP is NOT a software company! Integrity is at the core of our firm. We want to create great relationships and serve you so impressively that, when you need a consultant, you already know the quality that you can expect from us.
We don’t have a huge policyIQ booth at conferences and our software does not have the huge price-tag required to pay for that presence (policyIQ starts at <$5k/year).
We don’t sell multiple modules or products and aim to upsell you. policyIQ really does accommodate multiple business areas and needs in one affordable tool.
Our goal is to solve for your information, content, process, and workflow challenges across the Governance, Risk and Compliance (GRC) space, not to land a sale.
Your sales person does not make commission or hand you off to an implementation team that’s unaware of promises made during the sales process—we walk alongside you the whole way and help to tailor the implementation to your organization’s needs.
Our product does what we tell you it does (and we answer truthfully if you ask us about something we don’t do or plan to develop).
We have a support team that truly cares to give you excellent and timely service.
We think of our clients as part of our community with whom we will have a long partnership. We listen to your needs, plans, wishes and heartaches and work continuously to problem solve with you.
We’re proud to be a misfit among typical software providers.