My employer (large S&P 500 company) is undergoing its ASC 842 implementation and is currently shopping around with providers and their software packages designed for both 842 implementation and post-adoption. We have looked at a few vendors (including from a couple of the Big4 firms), but haven't made any decisions yet, and haven't yet seen a suite that has of yet knocked our socks off. If anyone has a package they have purchased and to date used in the implementation and would be willing to share insights, I would appreciate that.
ASC 842 (new Lease GAAP) Software - Any suggestions on a good software/provider
Answers
Same poster of the original question - and a point of emphasis I should have made in my original question. Also of importance to us is a software that can also help with leases/contracts that are deemed out of scope from an 842 perspective, but we'd still like to have a software that could help us with the tracking and coordination of our non 842 leases.
Anon
I can't help on ASC 842 software itself, however permit me to ask:
How well documented are your requirements? Example: have you written out your key use cases/business scenarios that represent your needs?
Have you prepared an evaluation method that is objective and weighs critical areas higher than non-critical?
Have you used that evaluation method to compare different vendors' solutions?
References are great to get, like you are asking for here, but in the end, your needs must inform your decision.
Best regards
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