Page 9 - eBook-Real-estate-leases

Summary and Next Steps

With only a few months remaining to get ready for compliance with ASC 842 and IFRS 16, companies need to start their
implementation projects as soon as possible. As a co-innovation partner with SAP and a leader in delivering purpose-
built compliance solutions, Bramasol has worked closely on the development and deployment of lease accounting
compliance capabilities.

For companies that need to manage real estate assets as well as moveable assets such as equipment, we recommend
SAP Contract and Lease Management, which is tightly integrated with existing SAP platforms and can also interface to
other legacy ERP and financial systems.

Comprehensive
Enables compliance with Capabilities for handling management of lease
IFRS 16 and ASC 842 lease both real estate and portfolio during transition
accounting standards moveable assets
to the new standards

Key benefits of SAP Contract and Lease Management

Future-proof support
Disclosure Reporting Native integration, rapid for SAP roadmap
with required
accounting lookback implementation time and platform evolution
reduced TCO
and statutory reporting (e.g. S/4HANA and
beyond)

Undertaking a proactive implementation program now will not only improve company-wide lease management
capabilities of all asset classes. It will also establish a solid foundation of process discipline, lease accounting and
auditable lease assets to prepare you for compliance with the changes to lease accounting standards coming in 2019.

The resultant improvements in contract and asset management will also deliver ongoing benefits in the areas of
productivity, agile reporting, audit readiness and Financial Transformation over the longer term.

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