CoStar Real Estate Manager, a division of CoStar Group, Inc., is pleased to announce that Kelly Kepley has been named vice president of Lease Services at CoStar Real Estate Manager. Kepley brings extensive lease management experience to her new role with the industry-leading lease management software provider.
“New procedures and federal standards, such as the upcoming lease accounting changes, causes a sudden influx of data elements that need to be processed accurately,” said Kepley. “With CoStar, I’m looking forward to working with the best in the industry to provide comprehensive lease accounting compliance implementation resources.”
Kepleys’ role will be critical as companies race to comply with new lease accounting standards. New standards require companies to recognize practically all obligations for real estate, equipment and other leased assets on their balance sheets. In her new role, Kepley will advise customers on CoStar’s end-to-end lease accounting, lease administration and lease management software solutions. CoStar Real Estate Manager supports every aspect of the real estate lifecycle, enabling corporations to better manage the execution of set strategies to meet company goals. With numerous successful enterprise lease accounting implementations, CoStar’s Fortune 1000 customers monitor, control and continuously optimize corporate leasing practices.
“Kelly has a very customer-centric approach that we are excited to have on our team,” said Andy Thomas, president of CoStar Real Estate Manager. “With her vast industry experience and expertise in lease accounting, lease management and lease administration solutions, Kelly will be valuable in helping our customers face the challenge of complying with the new lease accounting rules.” With time running out until the new lease accounting standards take effect for private companies, CoStar’s software is a recommended solution for companies that have not yet met lease accounting compliance. It also enables them with ongoing lease management solutions and benefits that go beyond compliance. CoStar’s Lease Manager software is delivered in a software-as-a-service (SaaS) format and offers out-of-the-box functionality that includes balance sheet impact, classification tests, amortization schedules, journal entry processing and GL system integration. To ensure compliance with Sarbanes Oxley’s requirement to demonstrate effective internal controls and procedures for financial reporting, CoStar’s platform completes an SSAE 16 audit annually.