SaaS Vendor Recognized for Innovation in Enabling Enterprises to Comply with the New Lease Accounting Standards
RESTON, Va. – May 14, 2019 – LeaseAccelerator, the pioneer of Enterprise Lease Accounting software, announced today it has been named a 2019 Hot Vendor. HFS research analysts select the Hot Vendors based off of their offerings’ distinctiveness, ecosystem robustness, client impact, financial position, and their effectiveness in OneOffice Framework.
HFS recognized LeaseAccelerator as a Hot Vendor for its innovation in the Enterprise Lease Accounting software category helping companies transfer billions of dollars of operating leases onto corporate balance sheets to comply with the new ASC 842 and IFRS 16 standards. The report states “Under these new standards, the private and public companies operating specially in the U.S., Europe and Australia need to report their lease assets and liabilities as a dedicated line item in annual reports from the financial year 2019 or latest by 2020. This simple requirement of reporting has triggered an entire industry.”
LeaseAccelerator’s leading Enterprise Lease Accounting Software-as-a-Service offers an end-to-end solution to comply with the new lease-accounting rules:
- Lease Accounting Softwareto automate the record-to-report process and enable compliance with the new US GAAP and IFRS standards and simplify integration with ERPs, such as SAP, Oracle, Microsoft, and Workday;
- Lease Management Softwareto reduce costs throughout the lifecycle of leases with proactive management of real estate and equipment contracts;
- Lease Sourcing Softwareto optimize the financing rates and contract terms for equipment leases by competitively sourcing lease capital through a global network of 500 financial institutions, including banks, independent lessors, and vendor captives
According to the report, “right now, providers in this market are offering either accounting solution or combining it with lease administration solution, while LeaseAccelerator has gone one step ahead by providing solution that addresses the full lifecycle of leasing, starting with procurement and sourcing, real-estate and equipment administration, stakeholder performance management, and finally, accounting processes.”
“HFS Hot Vendors are selected for demonstrating truly differentiated offerings and out-of-the-box thinking that can be both inspiring and useful,” said Michael Keeler, CEO of LeaseAccelerator. “We are honored to be on the short-list of vendors selected and will continue to innovate relentlessly in service to our customers as we continue to build this new category of Enterprise Lease Accounting software.”
An excerpt of the HFS Hot Vendors Q1 2019 report is available for download at
LeaseAccelerator offers the market-leading software-as-a-service (SaaS) for Enterprise Lease Accounting, proven to be the simplest, fastest and easiest path to compliance with the new FASB and IFRS standards. Using LeaseAccelerator’s unique Global Lease Accounting Engine, customers can apply the new standards to all types of leases – real estate, equipment and embedded – at the asset level as specified by FASB and IASB. The company’s ecosystem of certified, global partners offers a variety of guaranteed turn-key solutions. On average, the firm’s Sourcing and Management applications drive savings of 17 percent with smarter procurement and end-of-term management – compliance plus ROI.
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