Case Study: Discoveryaarzoo.bramasol2023-02-15T00:31:56-05:00
Case Study
Bramasol helps Discovery Inc, a global leader in real life entertainment to automate lease accounting disclosure solution.
Discovery, Inc., a global leader in real life entertainment, serving a passionate audience of superfans around the world with content that inspires, informs and entertains. Discovery delivers over 8,000 hours of original programming each year and has category leadership across deeply loved content genres around the world. Available in 220 countries and territories and 50 languages, Discovery is a platform innovator, reaching viewers on all screens.
The Problem
Discovery Inc needed an automated lease accounting disclosure solution that was compliant with ASC 842/IFRS 16. This solution needed to fit their existing processes to enable efficient financial statement close.
Key Challenges
Centralize disclosure reporting that includes countries with disconnected systems.
Currency exchange rates are not fully maintained especially for countries with disconnected systems.
Liability forecast follows a rolling 12-month cycle.
Difficulty in reconciling disclosure with some management reports.
Security concerns over updates to configuration and manual tables.
Key Challenges
Centralize disclosure reporting that includes countries with disconnected systems.
Currency exchange rates are not fully maintained especially for countries with disconnected systems.
Liability forecast follows a rolling 12-month cycle.
Difficulty in reconciling disclosure with some management reports.
Security concerns over updates to configuration and manual tables.
Solutions
Bramasol developed Table to facilitate manual entries of lease cost, payment, variable cost, and other categories as source data for reporting.
Exchange rate triangulation functionality to report on group currency.
Rolling 12-month cycle feature to Maturity Analysis report.
Report details such as contract name, asset class and asset number to FASB/IFRS reports to simplify reconciliation of some management reports.
Audit trails to disclosure configuration and manual tables that included details on who made the change, value changed, date and time.
Bramasol approach helped client achieve scale and high performance
As an expert in CLM installations, Bramasol helped Discovery Inc with implementation, consulting and training to help install the lease disclosure solution and efficiently automated the lease disclosure process.
Key Highlights:
The solution was delivered in a matter of weeks and enabled Discovery to take a manual disclosure process and turn it into an effective automated one.
Feedback / Customer Says:
Bramasol enabled us to automate our lease disclosures and they completed the work efficiently, on time and within budget.
Results:
10%
reduction in total cost of ownership
15%
increase in joint team productivity
100%
automated lease accounting disclosure solution
22%
increase in productivity related to critical operations requirements
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Find out more about how we can help your organization navigate its next. Let us know your areas of interest so that we can serve you better.
