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Road to Compliance: Guide to Comply with FASB ASC 842

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STRATEGY POLICY INVENTORY DATA SYSTEM PROCESS CONTROL SUSTAIN 19 tangoanalytics.com ROAD TO LEASE COMPLIANCE | SYSTEM You experienced a bait and switch You were told that your solution was compliant, only to be forced into a new solution because yours is not being upgraded. Since you must do a full implementation anyway, treat this as an opportunity to review better options in the marketplace. Newer, more innovative solutions may address more of your requirements going forward. You've been nickel and dimed Are you being forced to pay for support? Are you being charged for new reports? That doesn't sound like a mutually beneficial partnership with your vendor. Your compliance upgrade costs are as much as a full implementation If your so-called software partner is telling you that the upgrade you need to undertake to ensure compliance to the new standards will cost as much as it would to implement a full solution, you should probably consider breaking up. In fact, you might take this opportunity to seek out a new partner that is interested in growing and developing with you. Your data is being held hostage You've been using a solution, and now you need your data. Seems simple, right? It turns out some vendors hold your data hostage and require additional payment to access it. Make sure any vendor you work with will allow you to access your data without paying a ransom. 04. 05. 06. SYSTEM 03.

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