Case Study: Community Bank N.A. achieves streamlined lease compliance and operational efficiency with FinQuery

How LeaseQuery Is Improving Effciency and Collaboration at Community Bank N.A.

Community Bank N.A., a publicly held New York bank managing about 250 leases, needed a lease accounting solution to comply with the new lease standard and Sarbanes-Oxley Section 404 while giving Facilities visibility into lease terms and renewals. Accounting Supervisor Monica Hoffart led the search for software that could centralize lease data, provide approvals and notifications, and support auditability — and selected FinQuery’s lease accounting software.

FinQuery implemented a platform with approval workflows, data validation, audit trails, email notifications and read-only access for Risk Management, and even reviewed contracts to help identify embedded leases. The results included responsive support (responses cited within an hour or two), auditors able to trace reports back to the general ledger for a smoother audit, quicker access to lease terms for insurance procurement and facilities negotiations, and day-to-day efficiency gains such as answering lease questions on conference calls without fetching paper files.

Community Bank N.A.

Monica Hoffart

Accounting Supervisor