Managing lease contracts has always been a challenge for retailers but it has become even more time consuming and complicated to handle since IFRS16 came into effect. Large volumes of data are manipulated on spreadsheets every month to get to the figures that need to be included in the Balance Sheet. This leads to calculation errors, risk of data loss and non-compliance.
SAP Contract and Lease Management is a simple route to getting rid of these issues. And it can actually do a lot more than ensuring compliance with minimal manual intervention. It offers a streamlined approach to all stakeholders, enabling communication and collaboration at the right stages of the lease lifecycle.
SAP Contract and Lease Management is available in SAP ECC and S/4HANA landscapes. The user interface is straightforward and intuitive and it can be fully run on Fiori. The different contract stages, from initial creation to financial postings, can be mapped to different business roles, which can be a huge benefit when multiple users participate in the management of contracts. The cash flow can be simulated multiple times, ensuring that the contract lifecycle only starts when all the calculated values are correct.
Renewals and break options can be linked to a contract and important dates can be created as reminders. This highlights very easily which are the key dates for a contract and help the business stay on top of upcoming events.
Eliminates offline maintenance of complex spreadsheets
Considerable reduction of manual effort
Integration with SAP Finance
Easy to consume user interface
Accuracy in cash flow calculation
Segregation of duties
Automated calculation of financial postings
Possibility of notifications workflow