Mid-market companies need to ensure compliance with new FASB regulations (credit: Carlos Muza).
DALLAS—Tango, provider of lifecycle management and integrated workplace management system solutions, recently unveiled a new lease administration and accounting solution created specifically to meet the needs of mid-market organizations. Tango helps these organizations oversee day-to-day operational requirements and ensure compliance with new lease accounting standards (FASB ASC 842 and IFRS 16) by automating and streamlining accounting for real estate property, equipment and embedded leases, calculating ROU asset and lease liability, and accurately reporting from a single solution.
"Considering that real estate represents a top two expense line item for most mid-market companies, it's essential they gain the visibility and insights to help them identify savings opportunities within their lease administration and accounting processes, as well as ensure compliance with new FASB regulations," said Pranav Tyagi, Tango CEO. "Until now, the mid-market was forced to choose between less robust lease administration and accounting solutions that didn't fully meet their needs or rely on time-intensive and expensive manual approaches."
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
