PeopleSoft Lease Administration
Founded in 1915, Delaware North is headquartered in Buffalo, New York. They are a global food service and hospitality company, with services including food service management, hotel management, gaming operations, retail, and more.
Thanks to Elire’s longstanding partnership and relationship with Oracle, as well as Elire’s reputation as the foremost leader in PeopleSoft Lease Administration, Oracle referred Elire to Delaware North to assist and advise them on a Lease Administration implementation project. As part of this engagement, Elire was tasked with assisting and guiding Delaware North with the implementation of PeopleSoft’s Lease Administration module for all Payables and Receivables Leases under the new ASC-842 lease accounting standards.
Elire also leveraged its expertise on managing and reporting leases to advise Delaware North in adjusting to the new ASC-842 lease accounting standards.
Delaware North had challenges similar to many of Elire’s clients who faced the adoption of new ASC-842 accounting and reporting standards. Transitioning to new accounting standards created a need for Delaware North to find and classify all leases including those embedded in contracts, which required additional time and energy to ensure project completion.
Delaware North also presented the additional challenge of needing to implement PeopleSoft Lease Administration concurrently with a PeopleTools upgrade and PeopleSoft Financials Image update. This presented the challenge of having to coordinate a new module implementation while upgrading/updating Delaware North’s current PeopleSoft Financials footprint.
In January 2022, Delaware North was able successfully go-live with its PeopleSoft Lease Administration module. By simultaneously executing a PeopleTools and PeopleSoft Financials Image Update alongside the implementation of the Lease Administration module, Elire ensured that Delaware North was ready to address the new ASC-842 accounting and reporting standards. Elire worked to provide Delaware North with guidance and expertise on lease management, ultimately fostering a smooth transition to new ASC-842 standards.
Elire continues to provide ongoing support to ensure that Delaware North is equipped to adjust to its new Lease Administration Module and associated processes.
Interested in learning more about how Elire can assist your PeopleSoft team? Visit our PeopleSoft Services Page or contact our team at [email protected].
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