The Tepa Companies Achieved 50% Savings with LeaseCrunch

When considering alternatives, Tepa's auditors recommended LeaseCrunch due to its reputation and comprehensive features. Key functionalities such as journal entry exporting, footnotes, and amortization scheduling caught Tepa's attention, promising to streamline their audit processes significantly. The dual-access capability with Moss Adams, their auditing firm, was particularly appealing, facilitating seamless collaboration.

Since implementing LeaseCrunch, Tepa has experienced numerous benefits. Kelly Sias, the Controller at Tepa, highlights the ease of training new members on the platform.

“By leveraging LeaseCrunch, the accounting team can now focus on higher-value tasks, with plans to expand usage to staff accountants and accounts payable personnel. The platform's ability to centralize lease data has simplified processes for various departments beyond accounting, including fleet management and accounts payable.”

LeaseCrunch's impact extends beyond the realm of accounting, providing invaluable support to cross-functional teams within Tepa. Kelly elaborated on the significant advantages experienced across departments:

• Enhanced Payment and Lease Tracking: LeaseCrunch acts as a checklist for monthly lease payments, enabling efficient tracking without the need for cumbersome spreadsheets. This improvement prevents payment errors previously caused by inaccurate rent spreadsheets, ensuring updated lease payment information and greater accuracy in payments made.
  
  
• Improved Data Accuracy: Previously, each department maintained its own spreadsheets or lists, leading to inconsistencies and inaccuracies. Kelly explained, "Our AP person had her own spreadsheet then our fleet manager also had a list that wasn't always up-to-date. With LeaseCrunch, all lease data is consolidated into one platform, eliminating discrepancies and ensuring data integrity.”
  
  
• Enhanced Collaboration: By providing a single source of truth for lease information, LeaseCrunch facilitates seamless collaboration between departments. Kelly emphasized, "Now we have one place where they can all find the information they want... Here is the lease, here is the amount that's due this month, and here's what we do for the auditors." This centralized approach fosters collaboration and streamlines communication across the organization.

Tepa anticipates significant time and cost savings with LeaseCrunch. They spent double the amount they’re spending on LeaseCrunch trying to manage, reconcile, audit, and maintain them in various spreadsheets and locations. By transitioning from manual spreadsheet management to a streamlined software solution, the company expects to save hours previously spent on lease calculations and data reconciliation. This newfound efficiency not only boosts productivity but also enhances accuracy, ultimately contributing to bottom-line savings and achieving an impressive 50% reduction in lease management costs.

In summary, Tepa's transition from spreadsheets to LeaseCrunch represents a strategic move towards enhanced efficiency, accuracy, and collaboration. By leveraging LeaseCrunch's comprehensive features, Tepa has streamlined lease management processes, empowered its team members, and positioned itself for continued growth and success in the dynamic construction and engineering industry. LeaseCrunch's impact extends beyond accounting, providing invaluable support to cross-functional teams. From streamlined payment processes to centralized lease tracking, improved data accuracy, and enhanced collaboration, LeaseCrunch catalyzes organizational efficiency and effectiveness. With LeaseCrunch's cross-functional benefits, Tepa is better equipped to navigate the complexities of lease management and drive sustainable growth in its industry.