Opportune's Lease Accounting Outsourcing Solution
Complying with the new lease accounting standard (ASC 842) should not be a costly, time-consuming endeavor. The ideal lease accounting solution enables a company to comply with ASC 842 while, in parallel to improving efficiency and minimizing costs, allowing clients to focus on their core businesses. Opportune offers an outsourced lease management and reporting solution that accomplishes those ASC 842 objectives through a turnkey service.
OPPORTUNE'S OUTSOURCED SOLUTION PROVIDES:
- Output: Calculates and delivers journal entries that can be easily uploaded into your existing ERP. Additionally, Opportune provides the necessary data for disclosure requirements.
- Platform/Systems: The foundation of Opportune's turn-key solution is the market-leading Nakisa software running on the Amazon AWS cloud platform.
- Processes and Personnel: Opportune’s experienced U.S.-based consultants are ready to deliver best practices solutions for your ASC 842 needs. Opportune guides your organization through the financial reporting and change management process of ASC 842 adoption.
- Centralized Repository of all Lease Agreements: Opportune's solution allows you to view your entire lease portfolio from multiple perspectives. In addition, Opportune manages the ongoing changes in your lease portfolio (additions, amendments and expirations) throughout the year.
- Audit Support: Opportune's outsourced SOC 1 solution can reduce your external audit fees by providing audit support data that will increase efficiency and reduce substantive testing requirements.
BENEFITS OF OUTSOURCING
- Immediate output from a proven, reliable source: Opportune's outsourced centralized solution for lease agreements provides document management, archiving, journal entries and reporting from Nakisa, an industry leader in lease accounting solution.
- Minimal impact to current lease management process: Outsourcing reduces clients’ need to significantly reorganize their current organization and processes to centralize data under a self-implementation approach.
- Lower cost to implement and execute: Elimination of software licensing, hardware, IT, audit and accounting personnel costs, which can provide a savings of between $250,000 to $300,000 per year.
- Experienced professionals focused on the ASC lease standard: Dedicated Opportune subject matter specialists on the lease standard and operation of a complex software solution.
HOW TO GET STARTED
Contact Adam Sanderson at email@example.com or at 214.914.5477. We will initiate the introduction of our technical reporting and process teams to assess your current state of lease aggregation, complexity and requirements.