Case Study: Tyson Foods achieves greater lease visibility and ASC 842 compliance with insightsoftware LeaseAccelerator

Tyson Foods Achieves Greater Visibility Into Lease Portfolio

Tyson Foods, a large global food processing and manufacturing company, needed an integrated software solution to achieve ASC 842 lease accounting compliance. With decentralized data spread across 15 sources, the company faced data quality and completeness issues, and also needed asset-level accounting, SAP integration, and support for a 4-5-4 fiscal calendar. Tyson Foods turned to insightsoftware and its LeaseAccelerator product to address these requirements.

insightsoftware implemented LeaseAccelerator as Tyson Foods’ lease subledger for its entire portfolio of 2,000 leases, replacing multiple legacy systems and connecting with general ledger and accounts payable systems. The implementation was completed in six months with a small cross-functional team, and the company gained greater visibility into its lease portfolio, improved lease management, and achieved ASC 842 reporting compliance without adding cost or headcount.

Tyson Foods

Brian Martfeld

Director of Corporate Accounting