EY announces a strategic alliance with LeaseAccelerator and Ernst & Young LLP (EY US) to provide a transformational lease accounting and contract management service offering for organizations of all sizes. The alliance will also be activated in Germany with additional global expansion over time. Combining EY teams’ experience and global footprint with LeaseAccelerator’s industry-leading lease accounting and lifecycle management software, the alliance provides organizations with a managed service capable of filling needs globally.
Read More: GlobalFintechSeries Interview with Christian Spaltenstein, Managing Director – Americas at AFEX
Organizations are beginning to move past the basic compliance needs for their IFRS 16 Leases, the recently updated lease accounting standard from the International Accounting Standards Board (IASB), which changes how to account for leases in financial disclosures. Due to this transition, experienced and dedicated lease accounting and contract management services can help simplify the management of global lease portfolios and provide customer-defined outcomes.
Read More: GlobalFintechSeries Interview with Christian Spaltenstein, Managing Director – Americas at AFEX
Financial executives in a variety of organizations should consider transitioning from manual, fractured and expensive workstreams to a highly automated and compliant lease accounting process. This upgraded approach provides accuracy and timeliness of lease data, consistent application of policies and transparency of critical lease terms. Transparency is key to unlocking the hidden potential in organizations’ leased assets – reducing costs, preserving cash, generating new free cash flow and increasing the flexibility of contractual obligations. Lease portfolio control and flexibility have never been more essential as businesses face new challenges and economic instability due to COVID-19 disruption and in the aftermath.
