SIG Resource Center

Love it or Lease it? How Finance and Procurement Can Have a Love-love Relationship

At the start of the 2019, public companies began to adopt one of the biggest accounting changes in history. The new lease accounting standards will result in trillions of dollars of leases being transferred onto corporate balance sheets by 2022. The project has been a major work effort at many companies, requiring procurement and accounting organizations to review thousands of leases to gather the data needed to perform the calculations. Although the deadlines have passed for most public companies, the work effort for lease accounting is just beginning.  

In this educational session, we will discuss the impacts of the new leasing standards to enable procurement to love what you lease and will explore the broader topic of how best to partner with accounting. Discussion topics will include new ways that the procurement and finance relationship can work together on topics such as financial reporting, spend analysis, accounts payable automation and supply chain finance.

Sourcing Management
Contract Management