Lease Management & Lease Accounting Software Solution - Lease Fix
A SaaS-based solution that helps identify, collect, analyse and report data on lease agreements
A PwC India Lease Management Software
Lease Fix is a Saas-based solution that is key in identifying, collecting, analysing, and reporting data for compliance and control on lease agreements.
It supports organisations to address data-related challenges, quantify lease rentals and automate calculations while managing the technical specifications of the lease accounting standards.
Major challenges in managing lease agreements
Compliance and Regulatory Changes
Companies grapple with staying compliant amidst evolving regulations, ensuring lease agreements align with legal requirements
Complex Lease Structuring
Navigating intricate lease terms and structures demands expertise, posing challenges in optimising agreements for financial efficiency
Lease Accounting Standards
Adhering to stringent accounting standards requires meticulous record-keeping, making compliance with IFRS 16 and ASC 842 is challenging
Lease Portfolio Optimization
Optimising diverse lease portfolios for cost-effectiveness and strategic advantage presents challenges in balancing short-term needs with long-term goals
Streamlining Lease Agreement Data with PwC India’s Lease Fix Solution
Lease Fix is an innovative SaaS-based solution designed to streamline lease management processes for organisations. With its robust features, Lease Fix excels in identifying, collecting, analysing, and reporting crucial lease agreement data, ensuring compliance and control. This powerful tool not only addresses data-related challenges but also quantifies lease rentals with precision.
By automating complex calculations and seamlessly managing the technical specifications of lease accounting standards such as IFRS 16, IND AS-116, and ASC-842, Lease Fix empowers businesses to navigate the intricate landscape of lease management effortlessly. With Lease Fix, organisations can confidently tackle lease-related complexities and enhance operational efficiency, setting the stage for improved financial decision-making and strategic planning.
01
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
02
Automated calculations
The proprietary calculation engine quantifies the impact of these new standards, including transition periods. The calculations are automated to increase efficiency and curb human error
03
Technical Expertise
PwC’s approach involves forming an iterative feedback loop by combining advanced technology and the firm’s in-depth accounting experience
04
Reporting
The solution offers a wide range of different customisable reports, which provide comprehensive information required for the creation of management reports
05
Contract governance
The tool acts as a centralised repository for a company’s lease agreements, enabling easy upload, search and retrieval of these agreements
Unified and 360 dealership view with Dealers and Distributors Experience Platform
The new lease accounting standard is for companies to re-engineer the way they report lease agreements for compliance and ongoing lease management.
The need to gather and analyse relevant data to comply with the new accounting standard challenges many organisations.
This process could help to improve the way companies collect data and insights in the future. PwC’s approach involves forming an iterative feedback loop by combining advanced technology and the firm’s in-depth accounting experience.
Why should you opt for PwC’s Lease Management & Accounting Software?
- Automated calculations and reporting
- Integration with ERP at input and output levels
- Allow modifications and subsequent changes with comparative analysis Artificial Intelligence (AI) enabled
- Secured cloud-based hosting
- ITGC and SOX controls enabled and compliant
- All accounting and financial disclosure reports Easy and simplified user interface
- Support lease transactions in all foreign currencies
- Enhanced reporting, including customisable reports for budgeting, forecasting and internal MIS reporting
- Supports multiple legal entities within a group in once single instance
- Consider all aspects of lease accounting including ARO
