Black Owl typical implementation process:
Discovery & planning: Assess lease portfolio size, data readiness, ERP integration needs and define the project scope.
Configuration & setup: Configure the system (entities, currencies, charts of accounts, accounting standards), prepare import templates, connect to ERP/GL systems.
Data migration: Clean existing lease data, map it to the templates, import master data and lease contracts into Black Owl.
Testing & validation: Run test uploads, validate journal-entries, reports, month-end close process, and ERP integration.
Training & change management: Train finance/lease-admin teams on the system, workflow changes, lease entry/modification process and reporting.
Go-live / cut-over: Switch from old process (spreadsheets or legacy tool) to Black Owl platform, validate real-time operations.
Black Owl Systems platform can be customized to fit specific business needs; here are many of the data-points that show how it supports customization:
It supports field-mapping of journal entries and exports: you can “Configure exports, map fields, automate uploads … Choose your file format (CSV, XML, JSON). Define field mappings (GL codes, cost centres, business units).
It supports custom attributes for leases – you can “Create custom attributes for data capture and tracking.
It supports customizable reports and dashboards – “Customizable Reports … Dashboard & Customizable Directory.
It supports multi-entity / multi-company / multi-coding structures – you can allocate lease costs to “multiple centres, ventures, and other objects” and support “multiple companies and coding structures.
It supports multi-currency and foreign exchange customisation – automatic daily FX rate imports, cumulative translation adjustment support; manual override options for FX & IBR (incremental borrowing rate) for custom settings. Black Owl Systems.
Mass upload and re-mapping of data – “Mass Upload & Re-map. Quick setup and easy remapping options
It works with any ERP system and supports different integration methods – You can “fit into your existing workflows … Choose your file format … Push via SFTP, API, or CSV file export.
It supports industry-specific solutions – The “Industry-Specific Solutions” page says “We serve a wide variety of industries. We customise lease accounting solutions to meet you and your business needs.
Support for various lease types and standards across lessee and lessor sides, which shows built-in flexibility (e.g., operating, finance, short term, low value, non-lease contracts) under ASC 842, IFRS 16, ASPE 3065.
Workflow/approval customisation – e.g., the feature list mentions “Approvals & Notifications” (so you can tailor the workflow of lease approvals and notifications)
Implementation speed based on configuration – it notes “Our cloud platform can be delivered, ready to load leases in days… small businesses can be up and running within weeks… larger organisations live in one to two months.” This suggests configurability rather than heavy custom coding.
Unlimited users and entities supported, suggesting scalability and tailored setup as opposed to one-size-fits-all.
They provide guidance through data migration, system configuration, and user onboarding — as part of the implementation process.
Training is offered in various formats according to user reviews: in-person, live online webinars, documentation, and videos.
They emphasise “minimal IT involvement” — meaning the training is designed for finance/lease teams rather than requiring heavy technical skill.
Onboarding appears to include helping users with the basics: lease entry, lease changes, generating journal entries and reports.
Customer support is strongly rated: user reviews highlight responsive support teams during implementation and afterwards.
The vendor states that inquiries (for product guidance, implementation advice, etc.) are handled promptly (e.g., contact page indicates response within one business day).
According to independent review platforms, their support includes a help-desk, FAQs/knowledge base, email support, and possibly phone/chat support.
Black Owl security measures:
Black Owl holds SOC 1 Type 2 and SOC 2 Type 2 certifications, offering assurance around system security, availability and processing integrity.
They operate a secure and scalable cloud infrastructure, which is noted in their feature list (“Secure and Scalable cloud infrastructure”).
Their Privacy Policy states they employ “reasonable measures to protect… personal information from unauthorized use, access, disclosure, alteration, destruction or loss.
Ownership (Implied): The policy primarily addresses how Black Owl Systems (BOS) collects, uses, and discloses personal information about the user. It does not explicitly state that the user owns the data they input. For the core lease accounting data entered into the software, the policy is less clear, as it focuses on personal information like contact details and website usage.
Retention: Black Owl Systems retains your personal information for as long as necessary or relevant for the purposes listed in the policy, or as required by any applicable legal and retention obligations.
The policy grants users rights related to accessing and modifying the personal information that BOS possesses:
Black Owl terms and conditions:
Scalable Subscription Plans: Black Owl offers tiered subscription models (Small Business, Large Companies, Enterprise, CPA Firms) that can be upgraded as your lease portfolio grows. This implies renewals are flexible and can be adjusted based on evolving business needs.
Unlimited Users & Entities: All plans include unlimited users and entities, which suggests that renewals do not require renegotiation of user limits.
Customizable Features: Renewal may include access to additional features like multi-currency support, ERP integrations, and advanced reporting, depending on the selected tier.
Support Continuity: Renewals maintain access to free or premium support depending on the plan, ensuring continuity in service.
No Mention of Auto-Renewal: The site does not explicitly state whether contracts auto-renew or require manual renewal, so this would be clarified during onboarding or in the formal agreement.
Deployment Timeline: The software can be deployed in 4–8 weeks, and cancellation during this phase may depend on how far along the implementation is.
Partner Support: If cancellation occurs during implementation, partner firms may assist with data migration or transition, though this is not explicitly stated as a formal policy.
Black Owl adhere to the following compliance standards:
The platform supports lessee and lessor accounting in alignment with ASC 842 (U.S. GAAP) for both operating and finance/sales‐type leases.
The solution supports IFRS 16 (International Financial Reporting Standards) for lease accounting across finance and operating leases, including low value, short-term and non-lease contracts.
It also supports Canadian private enterprise accounting through ASPE 3065 (Canadian Accounting Standards for Private Enterprises) for leases.
Black Owl
بواسطة Black Owl Systems Inc
