Are you being forced into buying out leases because you cannot return equipment? Are you paying for leases beyond the end of term?
These “Evergreen” payments and “Forced Buyouts” destroy the economic benefits of leasing.
With LeaseAccelerator you will never miss an end of term deadline again. You will incur Evergreen payments only when you choose to. Not when you forget. We will notify you several months before each lease term expires. You will receive a complete analysis package with the economic and logistical associated with each option. Armed with all the data you can decide whether you want to return, renew or buyout the equipment. And once you make a decision our automated workflow will guide you through the process of notifying the lessor and completing all the necessary attestation and recordation activities for the lease.
Our customers have been able to reduce evergreen and buyout payments by 25-75%.
Track Changes Throughout the Term of the Lease
Never Lose Track of an Asset
36 or 48 months is an eternity in today’s business world. During the course of a three or four year lease a lot of change can happen. Your company could be merged, acquired or spun off. Organizational structures can be centralized, decentralized, outsourced or offshored. Cost centers can be reassigned, consolidated or closed. Manufacturing plants, office buildings and distribution centers could be shut down, sold off or upgraded.
How do you track equipment throughout these changes? Especially assets with wheels like forklifts, trucks, vans and cars?
LeaseAccelerator helps you track all of your equipment assets throughout the term of a lease. We’ll help you track assets as they change locations, cost centers or owners (employees). If your equipment was upgraded, repaired, maintained, painted, returned, stolen, bought out, resold or blasted into space – we’ll track it. For each piece of equipment you can see a timeline of all the events from the inception of the RFP to the termination of the lease.
All Your Leases in One Database
Say Goodbye to Spreadsheets
Are you tracking your leased equipment using spreadsheets, emails, file cabinets and yellow sticky notes?
These time-intensive processes are not only expensive, but they are error prone as well. New lease accounting rules are coming into effect that will draw higher levels of scrutiny from auditors, shareholders and board members.
Can you really afford to not have strong systems, processes and controls in place?
With LeaseAccelerator you can store all your leasing documentation in one centralized database. From the Master Lease Agreement and original Purchase Order to the Certificate of Acceptance and Monthly Invoices, we will help you keep track of the associated documentation for each piece of equipment. You can store not only commercial documents, but also the notes, comments, outgoing and incoming emails related to each lease as well. And LeaseAccelerator tracks all version changes to documents so you know who did what and when.
Learn More about Enterprise Lease Accounting
White Papers, Handbooks and Research Studies
With the deadlines for the new lease accounting standards approaching quickly, many companies are asking how software can help automate the tasks required for the transition period. US GAAP filers adopting ASC 842 will be required to provide three years of comparative reporting.
Learn the differences between contract-level and asset-level lease accounting in this technical white paper. Review examples of the impact of asset-level decisions, judgments and events for material handling, data center and IT equipment.
Considering Lease Accounting Software to comply with the new FASB or IFRS standards? Download this eBook to understand the potential time and cost savings opportunities resulting from automation of lease classification and financial reporting.