SaaS Provider helping large companies to move leases on balance sheet and implement ‘new GAAP’ standards
RESTON, Va, March 31, 2019 — LeaseAccelerator, the pioneer of Enterprise Lease Accounting software, announced today that it has been recognized as CFO Tech Outlooks 2019’s Top 10 Accounting Solution Providers. The annual list of companies is selected by a panel of experts and members of the magazine’s editorial board based upon their innovativeness and advancement in providing accounting solutions.
LeaseAccelerator’s Enterprise Lease Accounting solution helps companies to both comply with the day onerequirement of transferring leases onto the balance sheet, but also with the long–term need to maintain accurate and complete accounting records. LeaseAccelerator’s software features include:
- Record-to-Report Automation– Automated lease classification and calculation of subledger journal entries at the asset level allow Controllerships to eliminate many of the manual aspects of the record-to-report process – improving speed of close and reducing costs.
- Multi-GAAP Reporting– The global lease accounting engine enables Controllerships to deploy as many ledgers as required as well as the expanded set of qualitative and quantitative disclosures required under IFRS 16 and ASC 842.
- Financial Controls– Centralized policy management, automated end-user attestations, process-wide audit trails, and lease versus buy analysis ensure auditability of management’s attestations about the accounting.
“The world of leasing is undergoing a massive change as companies begin adopting the new lease accounting standards. To adapt to this new era of change in accounting, companies will need specialized enterprise lease accounting systems to track leased assets throughout their lifecycle,” said Jonathan Crawford, CTO at LeaseAccelerator. “We are honored to once again be recognized by CFO Tech Outlook and will continue our goal to help customers smoothly and quickly align with the ‘New GAAP’ to mitigate the risk of material weaknesses and financial restatements,” noted Crawford.
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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