A multinational food processing leader with a $450 million lease obligation and more than 10,000 assets struggled with data decentralization, quality, and completeness. They needed to comply with the new ASC 842 lease accounting standard, implement LeaseAccelerator software, and better manage their lease portfolio.

To address these challenges, we provided comprehensive support, including:

• Project Management: Led the project management efforts to ensure a structured and efficient approach
• Lease Data Assessment: Conducted a thorough assessment of lease data and identified gaps
• Data Governance Program: Developed a program to ensure data quality and completeness
• Business Process Transformation: Supported significant transformations in business processes to align with the new standards
• Change Management: Provided direction and guidance on change management to facilitate smooth transitions
• Software Implementation: Worked with LeaseAccelerator to determine use cases, resolve bugs, and address implementation issues
• Go-Live Support: Provided support during the go-live phase, month-end closing, and integrating a recently acquired business’s lease portfolio into the live system

Initially, the client needed a project manager to lead and execute their lease data capture program for their new lease system. Our role quickly evolved to manage the entire system implementation. Our work enabled the client to achieve compliance with the ASC 842 lease accounting standard well in advance of the effective date. Our strong relationship led to an extended engagement, where we provided “hypercare” to instill system knowledge. When the client upgraded to a new ERP system, they returned us to ensure the lease accounting platform and SAP instance worked together seamlessly, maintaining data integrity.