9 Key Functional Deficiencies Driving Companies to Replace ASC 842 Software
Adoption of ASC 842 was challenging enough. No company implemented new lease accounting software expecting to replace it just a couple of years later. But many are doing just that. Why? Because many buyers found out the hard way that under-developed systems lacked important functionality in these nine key areas. This forced accounting teams to spend countless hours creating manual workarounds in spreadsheets, leading to lost productivity, control issues and serious audit challenges.
If your existing software is missing these essential, time-saving functions – or if you’re looking to implement the company’s first solution – get the system that can do all this and more. CoStar.
CoStar is trusted and recommended by more leading accounting firms and service providers to manage and report on real estate and equipment for compliance with ASC 842 and IFRS 16 guidance. If your lease data is already in a database, upgrading is easier than you’d expect. Search “CoStar Lease Accounting” to learn more or visit
costarmanager.com.