Download - Lease App Presentation
ABC Co. LEASE Package
IntroductionA brief overview of the LEASE package process
1
What is the LEASE Package?
◉ The LEASE Package is an excel file containing a list of future cash obligations under various types of leases:○ Office leases○ Venue leases ○ Retail leases
How the LEASE Package is used
◉ Quarterly, this excel file is emailed to Division managers and each column is updated to reflect the future cash obligation.
◉ The accounting team reviews each of the updates for reasonableness.
For example...
We have an office lease with a future cash obligation for rent.
The 2016 column shows the amount of rent owed for the year.
First sent to a Division
◉ Each Division manager then emails the same excel file to multiple finance and accounting teams.
1st - Email Division
2nd step
◉ Each Division manager then emails the same excel file to multiple finance and accounting teams.
2nd - Email Local Team
Local Staff makes a change.
The Local teams will update the file and send it back to the Division.
This is the previous amount reduced by 3 months of rent.
3rd - file sent back to Division to be aggregated
Division compiles multiple excel files into one master.
The Way It is Now2
This is the current workflow
Automated workflow
Last - a few key stats3
200People duplicating data entry
5Weeks each department gains annually by automating this process
40Countries with employees involved in updating the excel file.