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Hosted by: Real Estate SIG within Financials Community

The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) recently announced the release of new accounting standards that define how organizations must account for leases.  Essentially, these accounting standards stipulate most leases must be reported on each company’s balance sheet, increasing the risk of regulatory noncompliance and inaccurate statutory reporting.  SAP Real Estate Management is used to optimize the portfolio of global assets and supports the regulatory compliance of these new accounting rules.  This solution provides a single point of entry for collection, validation of lease contract data, performs valuation calculations and generates the financial postings derived from these calculations.  Using Digital technology and machine learning to drive real estate leasing processes is a huge productivity driver.  See how the SAP partner LEVERTON uses machine learning to read, tag and abstract leases, significantly reducing the amount of time for lease abstraction.

Speakers:

Tom Anderson, SAP

Abhinav Somani, Leverton