Case Study
Transcending Static Repositories
Why GGI Adopted Spacebase to Modernize Equipment Lease Accounting
Key Results
Hours → Minutes
Month-end lease journal entries reduced from hours to minutes
~80% Reduction
Audit time for equipment leases cut by approximately 80%
30+ Tabs Replaced
30+ Excel tabs replaced with a single system of record
10–20 Hours Saved
Annual audit prep time eliminated for finance leadership
GGI Overview
About General Glass International
General Glass International (GGI) is a leading custom glass fabricator and national distributor of architectural glass, offering specialty glass products for commercial and architectural applications. With operations across multiple locations and a portfolio of specialized equipment supporting fabrication and distribution, equipment lease accounting is a meaningful part of GGI's financial operations.
The Challenge Prior to Spacebase
Before adopting Spacebase, GGI managed lease accounting in Excel. While spreadsheets offered flexibility early on, they became increasingly difficult to maintain as lease activity grew and ASC 842 requirements evolved.
Equipment leases presented particular challenges compared to real estate leases. These leases often involve shorter, overlapping terms, frequent changes, multiple schedules tied to individual assets, and higher volume across reporting periods.
As lease activity increased, reviewing and reconciling equipment lease data in Excel became increasingly difficult. Relying on spreadsheets also made it harder to trace assumptions through schedules, journal entries, and financial reporting with confidence, increasing review time during close and audit preparation.
"The most challenging part was aggregating the information across 30+ tabs in Excel. Typically, we only reviewed this data at fiscal year-end during the audit. Ultimately, this became very time-consuming and expensive to have the auditors reconcile."
Bill Paulin, Chief Financial Officer, GGI
Finding the Right Solution
Why GGI Chose Spacebase
As GGI sought to move away from Excel, the accounting team focused on finding a solution that could support the day-to-day realities of equipment lease accounting while integrating with existing workflows.
"There were two reasons GGI selected Spacebase. First, Spacebase stood behind their software. Second was that Spacebase handled all the integration. We needed to provide the data and our Excel documents, but Spacebase created all the files and made it easy to take over once the application was proven."
Bill Paulin, Chief Financial Officer, GGI
This approach enabled GGI to transition equipment lease accounting from Excel to a system-based workflow without disrupting close processes.
Getting Started
Implementing and Onboarding Spacebase
Implementation and onboarding were important considerations as GGI transitioned away from spreadsheets. During onboarding, GGI worked closely with their dedicated Customer Success Manager to migrate existing lease data from Excel into the system and validate underlying assumptions.
"I was truly impressed with the implementation. The timeline was roughly four to five weeks. Spacebase could have been quicker, but my time was limited, and they never pressured me to review. They truly understood this was not the only thing on my plate. Our dedicated Customer Success Manager was very knowledgeable and accommodating, and when updates were needed, they were done the same day or the next."
Bill Paulin, Chief Financial Officer, GGI
This collaborative implementation project allowed GGI to transition to a live workflow without rework or disruption.
Day-to-Day Usage
How GGI Uses Spacebase Today
Today, GGI uses Spacebase's lease accounting module to manage equipment leases in a centralized, system-based environment.
Lease terms and assumptions are maintained in a single source of truth, with amortization schedules generated directly from underlying data. As leases are added or modified, schedules and journal entries update automatically while preserving historical versions for prior periods.
Equipment leases are categorized in a way that aligns with GGI's portfolio, allowing the accounting team to review schedules, journal entries, and reporting by equipment type.
Measurable Impact
Month-End Close and Audit Impact
Spacebase has significantly changed how GGI handles close and audit preparation.
"At the end of the month, we run a report that gives us the non-cash journal entries, and we post in roughly two minutes—something that would take at least one to two hours in the past. At fiscal year-end, we gave auditors access to Spacebase and provided roughly a half hour of training. The auditors were able to run the reports and audit the entire process within two hours, compared to ten hours the year prior."
Bill Paulin, Chief Financial Officer, GGI
Compliance
Supporting ASC 842 Compliance
By consolidating lease data, schedules, and calculations in a single system, Spacebase enables clearer audit trails and more efficient ASC 842 review.
"Preparation for the audit has dramatically changed. We did not need to do anything. We gave access to the auditors, provided roughly half an hour of training, and the auditors did the rest."
Bill Paulin, Chief Financial Officer, GGI
The Transformation
What Changed for GGI's Finance Team
"What used to be a major risk in our financial statements is not even a thought. I don't need to worry about taking 10 to 20 hours out of my time during our preparation for the fiscal audit. On a monthly basis, I don't even need to get involved with the journal entry. Previously, I would need to sit with my accounting manager to explain the journal entry. Adding new leases used to take hours. Now I call Spacebase, and within a few hours, they have the new lease entered."
Bill Paulin, Chief Financial Officer, GGI
Long-Term Reliability
By moving lease accounting out of Excel and into Spacebase, Paulin and his team established a more reliable foundation for maintaining lease data, generating schedules, and supporting ASC 842 reporting, allowing the accounting team to focus less on spreadsheet maintenance and more on review, accuracy, and execution.