Former High Tech Executive Will Drive Company’s Next Growth Phase
GREAT FALLS, Va., Nov. 4, 2015 — LeaseAccelerator announced today that sales leader and enterprise leasing expert Tim Shockley has joined the company as vice president of sales. Tim brings more than 20 years of experience leading top performing teams to provide IT and financial solutions into Fortune 500 companies.
Prior to joining LeaseAccelerator, Tim spent 18 years in a variety of positions at Cisco Capital, the vendor captive finance organization of Cisco Systems. Tim was head of the U.S. Enterprise and Service Providers, then the general manager of Cisco Capital Europe, and finally the leader of their Global Enterprise Accounts program.
“Computer hardware is one of the largest areas of equipment leasing, representing over 20 percent of the $2.5 trillion global market. But Fortune 500 organizations are struggling to gain the economic benefit from leasing because they cannot track and manage the equipment, leases and stakeholders,” said CEO, Michael Keeler. “With twenty years of experience in financing telecommunications and data center equipment, Tim is the ideal candidate to work with our clients to bring a simple solution to this complex challenge.”
LeaseAccelerator provides an automated solution that allows companies to process, manage and account for their equipment leases – from forklifts and factory equipment to office and data center gear. The SaaS application creates a system of record that eliminates the need for spreadsheets and manual processes. Using LeaseAccelerator, companies can minimize the expensive evergreen rent and forced buyout scenarios that eliminate the financial benefit of leasing.
“LeaseAccelerator allows companies to manage the performance of their lease portfolio down to the penny. With the click of a button companies can do the required accounting and reporting. To quote one of our clients, it is like moving from the stone age to the modern day,” said Tim Shockley, vice president of sales. “We have received strong praise from CAOs and CFOs who know they will be compliant with the new lease accounting standards expected before the end of the year.”
LeaseAccelerator offers the market-leading SaaS solution for Equipment Lease Management (ELM), delivering hard cost savings, compliance and best practices to large, international lessees. LeaseAccelerator is the only solution that covers the entire enterprise equipment leasing lifecycle, including: equipment lease sourcing, which saves 6-8% by driving down capital costs; portfolio and performance management, which 8-12% by improving end-of-term return performance; and lease accounting, which enables compliance with current and new FASB, IFRS and SOX standards. Learn more at www.leaseaccelerator.com.
Through LeaseAccelerator’s Capital Sourcing marketplace, customers can access The Global Lessor Network (GLN), a community of more than 500 lessors around the world who compete to win our clients’ business. Using the GLN, global companies with a need for in-country leasing expertise and financing can identify and transact with local lessors. LeaseAccelerator supports transactions in 50 countries, spanning a wide variety of asset types: corporate aircrafts, computers, construction, forklifts, furniture, IT, manufacturing, mining, networking and transportation equipment. Lessors are encouraged to register at http://www.lessornetwork.com/.