LeaseAccelerator and Ernst & Young LLP Announce 2023 Global Lease Accounting Survey Results

RESTON, VA – December 21, 2023 – LeaseAccelerator, the leader in enterprise lease lifecycle management software, announced today the results of the 2023 Global Lease Accounting Survey conducted in collaboration with Ernst & Young LLP (EY US). The key finding of the survey is the post-compliance push for return on investment (ROI). Now that most organizations have achieved compliance with lease accounting standards, they are looking for ways to improve their ROI — by implementing strategic initiatives, such as platform consolidation across real estate lease administration and lease accounting applications; leveraging analytics and artificial intelligence (AI) for improved decision-making; and utilizing leased asset data and analytics to achieve net-zero emissions goals.

The 2023 survey shows that many organizations are still held back in their goals for lease lifecycle automation by heavy reliance on spreadsheets and data silos across different stakeholders. Respondents reported ongoing challenges, including the accuracy of lease accounting, automation of the monthly close, timely lease capture and incompleteness of lease data. However, these challenges also present an opportunity for organizations to focus on ways to improve processes. Additional key findings from the survey include the following: