Virgin Voyages cuts lease accounting from hours to 20 minutes with Trullion AI
Virgin Voyages relied on Excel for lease accounting across a complex portfolio, where manual formulas caused errors and inconsistencies, tracking amendments was difficult, and preparing journal entries often took over five hours. The impending ASC 842 compliance requirement added urgency to find a better solution.
How it works
Common implementation structure
How this type of workflow is generally built, generalized across documented cases — not tied to any one vendor's stack. Click any stage to read what happens there. Specific products that implement these stages appear in “Tools commonly seen” below.
Stage 1 · Lease contract upload
A lease contract is uploaded to Trullion's platform to initiate processing.
Tools used
TrullionExcel
Outcome
Trullion's AI-powered platform transformed Virgin Voyages' lease accounting: tasks that once took hours now take just 20 minutes, monthly reconciliations are completed in under 30 minutes, and auditors gained confidence through transparent reporting aligned with the general ledger.
What failed first
Excel's lack of standardization made audit and review harder, and its manual, decentralized approach produced inconsistencies and missed updates across a diverse lease portfolio.