Trullion Announces Integration of LeaseSCRE - an AI-Powered IBR Calculator by Alvarez & Marsal - for Accelerated ASC 842 Adoption

AI-Based Accounting Platform Further Accelerates Lease Accounting Process Providing A&M's Predictive incremental Borrowing Rate Calculator Embedded In End-to-End SaaS Workflow

NEW YORK, June 21, 2022 /PRNewswire/ -- Trullion, the leading AI-powered accounting platform, today announced the new integration of Alvarez & Marsal's automated incremental borrowing rate estimator LeaseSCRE into their accounting platform. The integration further enhances and already robust platform of automated lease accounting solutions, enabling accountants to estimate borrowing rates in moments.

Prior to LeaseSCRE, calculating the borrowing rate was a manual and tedious process that took days and possibly weeks, depending on the complexity of the company. The Alvarez & Marsal valuation team developed LeaseSCRE using machine-learning algorithms to estimate a company's incremental borrowing rate to be used in lease accounting calculations.

"Companies have deployed significant resources to classify and organize their lease portfolios. Despite all the resources spent on the accounting, companies still require the incremental borrowing rate to determine the present value of lease liabilities. LeaseSCRE generates an estimated credit rating using a machine learning based model that processes basic company and sector financial data and returns a rating-based IBR curve," says Chandu Chilakapati, a Managing Director of A&M's Valuation practice. "Now with an integration into Trullion's lease accounting module, financial leaders can experience their ongoing ASC 842 compliance process with a new level of efficiency".

This is the first time that LeaseSCRE has been integrated into an accounting software package to provide an end-to-end solution for companies looking to rapidly adopt ASC 842.

"Trullion is a single source of truth for accounting teams, creating efficiency and transparency so that our customers can easily comply with the new industry standards," says Isaac Heller, CEO at Trullion. "The integration with LeaseSCRE provides an automated option for one of the most difficult aspects of adopting ASC 842: determining your IBR rate. As we look towards the future, it also demonstrates that modern financial tools can operate as an open ecosystem where software & services providers can provide end-to-end automation for CFOs & financial stakeholders."

Trullion is an AI-powered accounting platform that automates challenging compliance workflows such as Lease Accounting and Revenue Recognition. By connecting Corporate Controllers, CFOs, and External Auditors in one platform, Trullion provides a single source of truth for financial leaders. Established in 2020, Trullion is headquartered in New York, NY with offices in Tel Aviv and has secured $15M in funding from Aleph, Third Point Ventures, Greycroft, Verissimo Ventures and financial executives from SAP, Ernst & Young, AirBnB and Dropbox. To learn more about Trullion, visit trullion.com.

CONTACT: DeeDee Rudenstein, [email protected]

SOURCE Trullion

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