Diane Broscombe: Leasing Executive - Meet The Leasing Experts
What does your role involve?
My role is to look after the European sector of one of our largest accounts for a global IT outsourcer. I do all the administration for their lease portfolio; compiling all the new quotes, organising lease expiry processes and anything that needs updating on our lease portfolio management software “LOIS”.
Describe a typical day in the office
Start off by making a cup of tea. I’ll check my e-mails and see what has come through overnight as we have clients around the globe – in the US, Australia and right across Europe. If we have some new invoices or a new spreadsheet of assets, I’ll look into getting them uploaded into the lease portfolio on LOIS and get in touch with the project contact. I’ll look at the expiries and any end of lease notice dates that are coming up and see if I need to raise any purchase orders or renew lease schedules, chasing up for the end of lease decisions – just doing what comes up as and when to manage our customers’ lease portfolio.
The most common thing is making sure leases are completed correctly. Getting them started is fairly easy as we are going to lessors to quote. Getting them finished and making sure the leases are compliant within the customer’s accounting system, gathering any purchase orders and asking around the world for end of lease decisions before the notice deadlines to avoid unwanted extensions can be a lot trickier. Everything’s on the cloud-based software, so it’s a lot easier to track and report on the hundreds of leases, but the sheer scale can get hectic (even for leasing specialists!)
What part of your role gives you the greatest satisfaction?
Tackling something that’s been particularly challenging. Recently, one of our largest customers upgraded their internal accounting systems, which meant adapting LOIS and their lease portfolio to comply with their new accounting processes. It was a huge task as they lease a great deal of assets across the globe, but as all the lease documents were compiled and organised on LOIS, it made it a lot easier to get LOIS and the lessors on board with their new system so they can accurately account for their leases and manage their assets.
What part of your role gives you the greatest challenges?
As we deal with some big companies, I need to make sure I have the correct contacts. We work with international lessees around the world so time differences can be a problem. Sometimes when we’re at our busiest, they’re fast asleep! Managing such a large lease portfolio can be a 24 hour job and I end up checking lease schedules or contractual obligations in bed so nothing important gets delayed!
Also, with companies that have a multinational reach, sometimes the language barrier can get in the way. Most of the time we get things in English, but occasionally we’ll have to translate the terms and conditions of a lease contract and Google Translate isn’t always the most reliable!
If you could describe Innervision in three words, what would they be?
Money-saving, Fun and “Great-to-work-for” (that counts as one word right?)
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