A strategic new partnership between Binary Stream and Express Information Systems empowers companies to streamline complex lease administration within Microsoft Dynamics GP (GP). This partnership will build on a 30-year legacy of helping CFOs streamline and manage lease accounting processes.
Attempting to scale operations while remaining compliant with standards like ASC 842, IFRS 16, and GASB 87 presents a challenge for companies worldwide. Some solve the complexity by overhauling their current ERPs at great expense. Lak Chahal, CEO of Binary Stream, points out that GP can handle scaling lease management without increasing overheads with the right upgrades.
“A lot of lease management solutions require companies to invest in a brand-new ERP rather than working with them to improve capabilities of the system they’re already using. This approach is an expensive mistake to make, often requiring a lengthy implementation and integration process and a lot of training on new processes and tools. It’s possible to manage the complexity of many leases within GP, and we’re here to help companies do that.”
Property Lease Management is full of features that CFOs need to simplify lease management. Here are some of the critical advantages of the upgrade:
- Streamline complex rate schedules, renewal terms, and charges with intuitive wizards
- Manage multiple levels of revenue and expense leases customized to suit your unique business model
- Gain real-time insights across your entire lease portfolio using detailed property analysis, vacancy, rent roll, and lease summary reports
- Comply with accounting standards like ASC 842, IFRS 16, and GASB 87
One of the most significant advantages of Property Lease Management is that it allows companies to operate from within the familiar interface of GP. Making integration and implementation a lot quicker than if companies were to invest in a brand-new ERP.
Express Information Systems commented on the future of this partnership.
“Working with companies to realize the full potential of GP is what we do. We’re excited to work with Binary Stream and look forward to seeing where this partnership takes us.”
If you would like to find out more about how Property Lease Management can help you, you can read more about the solution here.