Energy Leader Streamlines Lease Management with Netgain & Bridgepoint’s Automated, Scalable Solutions 

Before Bridgepoint:

• Manual lease tracking in spreadsheets led to inefficiencies and errors. 
• A single accountant managed all leases, creating bottlenecks. 
• Inconsistent lease commencement dates caused financial discrepancies. 
• Lack of system integration made reporting and tracking difficult. 

   

After Bridgepoint:

• NetLease automated lease calculations, eliminating manual spreadsheets. 
• Streamlined processes reduced workload and improved reporting accuracy. 
• Customization enabled better lease tracking, including VIN numbers. 
• The finance team received training, ensuring long-term efficiency. 

Project Overview

The client – a leading provider of intelligent, affordable, clean, and turnkey power and fuel solutions for remote and grid-parallel applications – faced challenges managing an increasing volume of vehicle leases. With only one individual handling lease accounting manually via spreadsheets, the company needed an efficient and automated solution.

Bridgepoint Consulting was chosen to implement NetLease within the client’s existing NetSuite environment, leveraging our strategic partnership with Netgain, our proven NetSuite expertise, and our longstanding relationship with the client.

Business Challenge

As the client expanded its operations, the number of leased vehicles increased significantly, creating a strain on their existing manual lease management processes. A single accountant was responsible for managing all lease-related tasks, leading to inefficiencies and an increased risk of errors.

The growing volume of leases required complex manual calculations in spreadsheets, making it difficult to maintain accuracy and consistency. Additionally, the client faced inconsistencies in lease commencement dates and periods, which had the potential to impact financial calculations.

Time management also became a challenge as the large accounting team needed to be involved in NetLease meetings, adding another layer of complexity to the implementation process.

Furthermore, the client needed to ensure their lease accounting aligned with auditor guidance, making it critical to establish a structured and accurate approach. Without an automated solution, the lease management process was unsustainable, requiring excessive manual effort and increasing the risk of inaccuracies.

Approach

Bridgepoint Consulting implemented NetLease within the client’s NetSuite environment, ensuring a smooth transition from manual spreadsheets to an automated lease management system.

1. Discovery & Planning

Our team began the project with a kickoff meeting involving key stakeholders from finance, management, and IT to establish project objectives and align expectations. We then developed a tailored list of discovery questions to assess the client’s lease management needs, ensuring a comprehensive understanding of their requirements.

Once we were granted access to the client’s NetSuite Sandbox and Production environments, our team conducted a thorough review of the company’s chart of accounts, classifications, and existing lease records to ensure proper system alignment and data accuracy.

2. Implementation & Testing

Our team maintained a structured approach through regular meetings, ensuring steady progress and issue resolution. NetLease was configured within NetSuite to align with the client’s financial processes, while inconsistencies in lease commencement dates were addressed with auditor guidance.

Before moving to Production, we conducted thorough data validation in the Sandbox environment to ensure accuracy and compliance.

3. Go-Live & Training

Lastly, our team finalized the lease data migration and successfully transitioned NetLease into Production. To ensure a smooth adoption, we provided comprehensive training to the finance team, equipping them with the knowledge to efficiently manage lease tracking and reporting.

Ongoing support continued after implementation as our team assisted the client with custom reporting and optimizing lease data entry to meet their evolving business needs.

Results

Bridgepoint Consulting’s expertise enabled the client to transition from manual lease tracking to an automated NetLease system, significantly improving efficiency, accuracy, and scalability. The implementation streamlined lease accounting, ensuring compliance with financial standards and reducing the workload on the finance team.

The client also experienced the following quantifiable benefits:

• • Elimination of manual spreadsheet calculations, reducing the time spent on lease accounting and improving accuracy.

• • Streamlined monthly lease journal entries, significantly decreasing processing time.

• • Enhanced customization capabilities, including the ability to track vehicle leases with VIN numbers, which was previously unavailable.

• • Automated lease calculations, ensuring accurate financial reporting and alignment with accounting standards.

• • Improved collaboration and visibility across the finance team, enabling better decision-making and lease management.

While the implementation project has concluded, the client is now well-positioned to manage its growing lease portfolio efficiently. The automated system supports future expansion, and Bridgepoint continues to provide ongoing support for NetLease reporting and system optimizations.

Services Provided