Critical Lease Accounting Capabilities Available in SaaS Offering in Advance of 2015 FASB Standard Change
GREAT FALLS, Va., Sept. 15, 2015 — LeaseAccelerator Inc., the market-leader in Equipment Lease Management (ELM) software, today announced that its LeaseAccelerator® software-as-a-service (SaaS) solution has attained SAP-certification with SAP’s ERP platform as powered by the SAP NetWeaver® platform. LeaseAccelerator® has been proven to integrate with SAP® solutions, offering the most advanced capital lease accounting capabilities available to equipment lessees in preparation for the 2015 FASB and IFRS lease accounting standard change.
The LeaseAccelerator SaaS serves as an equipment lease accounting subledger. It allows finance organizations to manage their leased assets around the world and generate asset-level debits and credits, which is beyond the scope of ERP applications. This integration with SAP enables customers to automatically push journal entries from LeaseAccelerator to the general ledger in SAP.
The SAP Integration and Certification Center (SAP ICC) has certified LeaseAccelerator® as integrated with SAP powered by SAP NetWeaver. Solutions that are powered by SAP NetWeaver can be more quickly and easily integrated into SAP solution environments. Customers can benefit from improved interoperability with SAP applications and with the large ecosystem of solutions that run on SAP NetWeaver.
“We’ve worked to ensure that our solution is compatible with the most popular ERP platforms in the world. With this certification, customers can now achieve straight-through-processing of their lease portfolio with the world’s most popular ERP platform, thereby reducing errors, risks and costs,” said Michael Keeler, CEO of LeaseAccelerator. “This is critical, given the coming lease accounting standard changes that will be driving so many of the Fortune 500 to seek ELM solutions like ours.”
LeaseAccelerator is a cloud-based SaaS solution that enables equipment lessees to comply with the current and new FASB/IFRS lease accounting standards and realize enormous savings from competing lease transactions upfront and improving end-of-term return performance to reduce over payments. LeaseAccelerator’s customers include global leaders in industrial manufacturing, high-tech, cloud, financial services, and health-care.
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.
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