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To the Power of Human

Feeding the Need for Lease Accounting Compliance

Jul 3, 2019 |
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Client

A multinational food processing and marketing leader

RGP engaged with a multinational food processing and marketing leader with a $450M lease obligation and over 10,000 assets, to execute their Lease Data Capture Program. Our collaborative partnership with our Client helped them successfully meet the new lease accounting standard.

Our Client struggled with data decentralization, quality and completeness, and needed a project manager to lead and execute their Lease Data Capture Program in order to meet the requirements of their new lease system, and then oversee the system implementation.

What We Did

  • Developed a program to provide data governance across all business units and in conjunction with other external providers.
  • Performed an assessment of the lease data and identified gaps.
  • Established an equipment lease data repository addressing the new leasing system requirements.
  • Deployed our proprietary tool, policyIQ®, to design a process to capture lease updates and modifications.
  • Worked with the software provider to determine use cases and resolve bugs and other implementation issues.
  • Led and supported the lease accounting system implementation, including ‘go-live’ support, month-end closing, and integration of a recently acquired business’ lease portfolio into the live system.

Impact

  • Performed project management activities to achieve our Client’s objectives with efficiency and ensured all identified issues were resolved in a timely manner.
  • Provided direction and guidance on change management to support our Client and facilitated relevant activities.
  • Supported significant business process transformation.
  • Created export capabilities that allowed all lease data to be uploaded in the new leasing system.
  • Positioned our Client for compliance with the new lease accounting standard well in advance of the effective date which allowed them to better manage their lease portfolio.
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Client

A multinational food processing and marketing leader

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