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Lease Fix

Ease the Lease

Overview

Implementation of lease accounting standard with Lease Fix

The new lease accounting standard is leading companies to re-engineer the way they manage and report lease agreements for compliance and ongoing lease management.

The need to gather and analyze relevant data to comply with the new accounting standard poses significant challenges for many organizations.

The new lease accounting standard is leading companies to re-engineer the way they manage and report lease agreements for compliance and ongoing lease management.

This process could help to improve the way companies collect data and the insights they receive from it in the future. PwC’s approach involves forming an iterative feedback loop by combining advanced technology and the firm’s in-depth accounting experience.

All companies will need to assess the extent of the standards’ impact so that they can address the wider business and organisational changes as may be required.

Lease Fix is a solution that helps to identify, collect, analyse and report data for enhanced compliance and control on lease agreements.

It combines several key features, and enables companies to address data-related challenges, quantify lease rentals and automate calculations while managing the technical requirements of the lease accounting standards.

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Lease Fix

Benefits of Lease Fix

Enhanced controls

Lease Fix uses a range of technologies to boost performance across specific business functions. Furthermore, it has robust IT general controls to maintain strong IT security.

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Accelerated extraction of lease terms

Its advanced technologies automate the process of extracting lease terms and clauses, and thereby enable accelerated extraction and saving of time.

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Automated calculations

The proprietary calculation engine quantifies the impact of these new standards, including transition periods. The calculations are automated to increase efficiency and reduce human error.

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Technical expertise

PwC’s approach involves forming an iterative feedback loop by combining advanced technology and the firm’s in-depth accounting experience.

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Analytical reporting

It does not stop here, through integration with ERP, the output can be directly posted on the general ledger.

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Contract Governance

This tool is designed to support various forms of reporting, spanning accounting, disclosures and business intelligence, which can generate analytical insights for your management, and hence can add value to the entire process while ensuring the maximum security.

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Key differentiators

  • Automated calculations and reporting
  • Secured cloud-based hosting
  • Artificial Intelligence (AI) enabled
  • ITGC and SOX controls enabled and compliant
  • Easy and simplified user interface 
  • All accounting and financial disclosure reports
  • Supports multiple legal entities within a group in one single instance
  • Support lease transactions in all foreign currencies
  • Allow modifications and subsequent changes with comparative analysis 
  • Integration with ERP at input and output levels
  • Enhanced reporting, including customisable reports for budgeting, forecasting and internal MIS reporting
  • Consider all aspects of lease accounting including ARO

Assistance with all your reporting needs

Accounting

Monthly journal report

Monthly journal report

Lease summary report

Lease summary report

JV report with GLs

JV report with GLs

Disclosures

Financial statement disclosures:
ROU Gross block

ROU Gross block

ROU class-wise

ROU class-wise

Lease Liability maturity

Lease Liability maturity

Borrowing's classification

Borrowing's classification

Group reporting packs

Group reporting packs

Business intelligence

Lease analytics

Lease analytics

Payment schedule

Payment schedule

Interactive charts

Interactive charts

YoY - P/L impact

YoY - P/L impact

Non-GAAP measures

Non-GAAP measures

Built by using sturdy platforms

Responsive user interface
Responsive user interface
Business component layer
Business component layer
Relational database
Relational database
Document management
Document management
Analytical reporting
Analytical reporting

Have you reached out to your contacts to schedule a demo?

For further details contact : in_pwc_leasefix@pwc.com

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