An important part of lease accounting compliance is selecting a lease accounting software that will readily integrate with existing systems such as Oracle, SAP, Microsoft Dynamics, PeopleSoft, Blackline, Lawson and JDEdwards. When vetting software providers, consider the vendor’s enterprise integration experience.
CoStar: Examples of successful Oracle integrations
CoStar has a strong track record of successful integrations, including delivery and support of more than 500 enterprise integrations with ERP and accounting GL/AP/AR systems, including many Oracle integrations. In fact, CoStar manages $4B+ in monthly rent payments for enterprise customers.
CoStar has successfully completed Oracle integrations for purchasing, sales, vendor, fleet and/or custom systems for customers in the following industries:
- The consumer division of financial services multinational bank
- The world’s largest logistics company
- A wireless carrier which serves almost 80 million customers in the U.S.
- A nationally-known flooring manufacturer
- The largest chain of off-price department stores
- A manufacturer of high-end luggage and bags
- An upscale retailer and a brand of clothing and fashion accessories
- A distributor of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials
- An international healthcare provider
Day 2 considerations: After the lease accounting software and Oracle integration is complete
After the initial integrations, processes, policies and controls are in place to ensure every lease is reported accurately and updated regularly, the lease accounting software solution should deliver on “Day 2” expectations on how it makes day-to-day accounting operations easy and accurate. During demonstrations, see how the easy the software solution makes processes such as capturing new leases, tracking changes to leases, managing the end-of-term, implementing systems, customizing policies and automating the asset tracking processes.
The smart choice, the proven choice When performing an enterprise-level integration, it’s not time to gamble. CoStar’s reliability and subject matter expertise have proven reliable resources during hundreds of Oracle integrations and compliance implementations. CoStar’s proven lease accounting software solution also integrates easily with IT, fleet, real estate asset management systems and reconciliation product/modules.