Case Study: a major telecommunications company achieves more accurate multinational lease accounting with FinQuery LeaseQuery

Major Telecommunications Company streamlines 7,500+ leases with FinQuery

A major telecommunications company faced significant challenges managing its multinational lease portfolio using a prior solution that was primarily a real estate tool. Their previous software was ill-equipped to handle their 7,500 leases across 30 companies in multiple currencies and jurisdictions, leading to inefficient data, high costs, and unresponsive customer support from their former vendor. They needed a dedicated lease accounting solution that could comply with both IFRS and US GAAP standards.

By switching to LeaseQuery powered by FinQuery, the company implemented a solution that delivered accurate multi-currency accounting and an intuitive user experience. FinQuery provided responsive, expert support and a functional dashboard that improved efficiency and internal controls. The results included more accurate accounting, a significant reduction in centralized review work, and the ability to push SOX compliance down to the local level, streamlining their entire financial reporting process.