Drummond Company implemented PeopleSoft Lease Administration

Drummond Company, in conjunction with their partner MIPRO Consulting, implemented PeopleSoft Lease Administration. Based in Birmingham, Alabama, Drummond Company, Inc. operates as a privately owned entity engaged in coal, coal products, oil and gas, and real estate ventures.

Drummond needed to be ASC 842 compliant. The project required centralizing Drummond's lease data for over 50 AP leases, including international leases. MIPRO worked with Drummond's accounting and application specialists, emphasizing knowledge transfer in each phase of the project. The project included using MIPRO's custom-designed Lease Administration methodology, utilizing Lease Administration's built-in internal controls, creating a standardized data conversion process, and minimizing customizations. The project was successfully completed on time and under budget meeting reporting deadlines.