Outsourcing Lease abstraction aids in better compliance management

SKJ Juris Services Pvt. Ltd.Urban and Civil

Nov 18, 2019 (26 days and 18 hours ago)

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Compliance management is a process whichensures that a set of people are following a given set of rules. These rules are generally termed as the compliance standard or compliance benchmark. The compliance management may take many forms including procedures, documentation, a mix of policies, security controls, third party audits, technological enforcements, and security controls.

Outsourcing Lease abstraction aids in better compliance management

Compliance management is a process whichensures that a set of people are following a given set of
rules. These rules are generally termed as the compliance standard or compliance benchmark. The
compliance management may take many forms including procedures, documentation, a mix of
policies, security controls, third party audits, technological enforcements, and security controls.
Models for Compliance Management
There are two widely used Compliance management models: -
● The Ten Commandments
o This model sets forth the rules and punishes those who don't comply with them.
There is almost no help for transgressions and this model is largely inflexible. It
suffers from a significant breakdown when there is room for interpretation. It works
well when there is less variance regarding compliance.
● Quality Management
o This method allows judgment calls to be made in most of the cases, even though the
regulations are not in favor. It is generally believed that every rule may not be
followed in every circumstance and thus, exceptions must be allowed so that the
business operates as best it can while following most of the rules as possible.
The model of Quality Management is widely adopted over the Ten Commandments due to the
flexibility of the former. It enables companies,that have multiple standards to follow, with some
flexibility in adopting those standards by ensuring that the judgment calls are not ultimately in
detriment of the company’s interest. These judgment calls may be done by the company itself or by
an LPO.
Outsourcing Lease Abstraction
Lease Abstraction Services
are outsourced to assist a company in a property deal. Lease Abstraction
Companies are very beneficial when it comes to preparing the Lease Abstract as:
● With high expertise, they provide proper guidance during a deal.
● Provides round the clock assistance.
● Minimizes the chance of an error.
● Reduce the time needed for drafting the Lease Abstract.
Benefits of Outsourcing Lease Abstraction in Compliance Management
The LPO gives a critical advantage in Compliance Management, where a service provider may work
on relevant Financial Accounting Standards,Board Reports and disclosures on a monthly basis.
● The experienced lease accountants of a Lease Abstraction Company audits and validates the
reports cautiously.
● Access to this expertise in an LPO supports in management and adhering to relevant
financial reporting requirements as per the business needs.
● The most important aspect of hiring a Lease Abstraction Company is the assurance of proper
governance of the process. It eliminates the risk of non-compliance and cost overruns.
● Round the clock service from a Lease Abstraction Company enablesthe organization in
preventing the violation of the rules and minute errors in the deal.


Role of SKJ Juris
Lease Abstraction providersbridge the gap between the compliance standards and their acceptance.
And hiring them brings profits which outweighs the cost it takes.
SKJ Juris is among the best
Lease Abstraction Company
in the world, which appreciates the
compliance standards of the partner organizations. At SKJ Juris, the highly qualified experts provide a
transparent service within the time limit by maintaining the quality of the service. We have built our
great portfolio in the field of LPO and we arewidely renowned for our high-class expertise, efficient
and effective methodology at an affordable price. We deliver lease abstraction services by
understanding the basic purpose of outsourcing services, that is offering them at controllable
costs.By offering world-class lease abstraction services, ourlease abstraction company pays
meticulous attention to the client requirements and provide services that meet and exceed the
requirements of the clients.