Take Charge of Lease Management & Compliance
SAP RE-FX Software: The 360° Operating and Finance Lease Management Solution
Be strategic in the administration of lease operations.
Eliminate manual systems and redundant paper by creating a single source of truth, centralizing operations globally, providing transparency; avoiding redundancy, and increasing data accuracy.
SAP RE-FX implementation can be carried out on-premises, via the cloud, or as a hybrid deployment.
Gain Truth & Compliance in a Unified Platform
SAP Contract and Lease Management is a unified platform serving both lease administrators and accountants that features standardized leasing processes, real-time lease valuation, and eliminates financial interfaces.
Natively integrated with S/4HANA, SAP Contract and Lease Management provides the ability for users to do 3 things:
- Comply with changing contract and lease accounting standards.
- Optimize to minimize manual intervention, saving time and cost.
- Transform the lease function into a strategic asset.
In this product introduction, SAP’s Global Solution Owner for Real Estate & Contract Management, Thomas Anderson, talks about the value of these 3 product features.
Why Partner With Sierra Digital on Contract & Lease Management?
If there’s a provider with a greater number of proven success stories in Contract and Lease Management upgrades, we don’t know who they are.
Sierra Digital has outstanding experience in the delivery of Contract and Lease Management solutions for organizations that need to meet ASC842, IFRS16, and GASB87 reporting without delay or error.
We make it simple, by providing service in two parts: First, we supplement SAP RE-FX with proprietary automation tools and accelerators that speed implementation and reduce cost; and each project we undertake is afforded a comprehensive approach that is battle-tested.
Canopy Solution Extends Value-Adds To SAP RE-FX Software
Pre-Configured Modules
On SAP S/4 HANA and ECC, and available with SaaS convenience in the Azure Cloud, Built-in US Company Code Chart of Accounts, Fixed Assets Configuration, RE-FX Module for managing the Lease Contracts.
Customized Set-Up
Based on Business and Functional Requirements, Sierra’s team will help you define, align, upload, and digitize contract & lease assets in a few simple clicks.
Ready-Made SEC Reports
Run pre-created SEC-required Lease Management Disclosure reports in out of the box in minutes.
Pre-Built Interface API
Available to send the required Financial Data to any downstream systems.
Sierra's Comprehensive Project Approach Sets Us Apart
Our Project Approach includes:
- Impact Assessment and Solution Design
- Lease Discovery and Data Collection
- Process and Reporting Optimization
- System Implementation
- Control and Process Documentation and Training
- Project Management
Read our White Paper to learn more about Sierra Digital’s full scope of thought on Contract and Lease Administration, including our Methodology, Toolware and Accelerators.
5 Key Benefits of Sierra's Canopy CLM Solution
Accelerated Deployment
Go-Live in as little as 6-8 weeks.
Superior CLM Expertise
Sierra is the most experienced CLM implementation provider in North America, having been engaged on over 40+ CLM projects to date.
Digitization of Leasing Contracts
Enables journet to Single Source of Truth.
Enabling Automation
Reduces human-centric, error-prone scenarios and readies you to take full advantage of an MX-driven world.
Leverage of Existing Investments
Sierra Digital will help you chalk out a roadmap to assure a sustainable solution.
Source: bisnow.com
Is Canopy from Sierra Digital Right for You?
Do you have a plan in place attain contract & lease accounting standards compliance?
Are you aware of the deadlines that apply to your organization for compliance?
Have you considered the CLM function of your organization for the opportunities it presents as a strategic and business driver?
Have you considered questions beyond compliance, such as those related to optimization and transformation of the contract and lease accounting processes?
Given what you know about CLM today, can you foresee that automation can save you time and money?
Contract & Lease Management Resources
A Roadmap to ASC 842 Compliance
In a recent survey conducted by the Deloitte Center for Controllership, only 20 percent of finance leaders said they were “prepared” or “very prepared” to comply with ASC 842. It is the most significant change to lease accounting in 30 years — impacting every company that has leases, whether real estate, equipment, printers, furniture, etc. Compliance will require broad organizational programs and significant changes to lease management processes and systems. Get up to speed with this white paper, courtesy of Bloomberg Tax.
ASC 842: Private Companies Have Another Year To Deal With Compliance, And They'll Probably Need It
The Financial Accounting Standards Board has given private companies and non-profits in the U.S. until December 15, 2020 to start treating their operating leases on their balance sheets as liabilities.
GASB.org
Governmental Accounting Standards Board (GASB) establishes accounting and financial reporting standards for U.S. state and local governments that follow Generally Accepted Accounting Principles (GAAP). The GASB standards are recognized as authoritative by state and local governments, state Boards of Accountancy, and the American Institute of CPAs (AICPA).
FASB.org
Financial Accounting Standards Board (FASB) is the independent, private-sector, not-for-profit organization that establishes financial accounting and reporting standards for public and private companies and not-for-profit organizations that follow Generally Accepted Accounting Principles (GAAP). The FASB is recognized by the Securities and Exchange Commission as the designated accounting standard setter for public companies. FASB standards are recognized as authoritative by many other organizations, including state Boards of Accountancy and the American Institute of CPAs (AICPA).