LeaseAccelerator releases major update to its leading Lease Lifecycle Automation platform with exciting new accounting and reporting enhancements

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Sep 15, 2021, 13:51 ET

RESTON, Va., Sept. 15, 2021 /PRNewswire/ -- LeaseAccelerator, the leader in Lease Lifecycle Automation software, announced today an exciting new update – the result of a significant investment to expand process controls and simplify and accelerate the accounting close. The enhancements were designed with the guidance of customer focus groups to improve analytics, the user experience, and performance across the lease lifecycle, including:

Expanded analytics: The portfolio insights dashboard enables stakeholders to monitor KPIs for critical decision making with at-a-glance dynamic graphics revealing:

Lease status broken down by active, evergreen overpayments, and renewed
Lease classification breakdown by finance, operating, or non-lease (de-scoped)
Key portfolio values including:

Net Book Value of ROU assets,
Outstanding liabilities and expense,
Spend on active leases vs. evergreen leases

A time series (trend-line) of evergreen overpayments
Users can drill-down to deal level detail and filter by fiscal months and specific ledgers.

Improved ease-of-use: To make complex lease accounting easier, the updates include: segment masking allowing default ledger segment values; automated classification and booking for modifications; improved order of operations that resolves conflicting events; and step-by-step, in-app guidance on data entry for complex lease scenarios.
Improved performance: Multi-year architectural modernization investments have resulted in faster initial calculations, faster incremental recalculations, and quicker reporting, enabling users to generate all disclosure reporting quickly, accelerating the accounting close.

"Controllership teams want improved controls, faster closes and financial reporting, and valuable insights from their data. More companies switch to LeaseAccelerator as their needs evolve and expand because our product helps them solve their problems more effectively than any other vendor because we listen to our customers, collaborate with them, and deliver what they ask for," said Michael Keeler, CEO of LeaseAccelerator.

For more information on LeaseAccelerator's recent updates, request a demo at www.leaseaccelerator.com.

About LeaseAccelerator:
LeaseAccelerator provides Lease Lifecycle Automation software that ensures long-term compliance, improves operational efficiency, and frees up cash flow. Thousands of users rely on our secure Software-as-a-Service (SaaS) platform to manage 800,000 real estate and equipment leases valued at $200 billion. LeaseAccelerator offers a platform for growth with asset-level accounting, reporting and governance; in-app help; and an integrated, competitive leasing marketplace fueled by a global network of more than 500 lessors. Learn more at: http://www.leaseaccelerator.com/.

SOURCE LeaseAccelerator