LeaseAccelerator Adds Rose as Head of International
AUG 22, 2018 - 2:15 pm
Steven Rose joined LeaseAccelerator, a provider of Enterprise Lease Accounting software, as its new head of international.
Rose has more than 30 years of experience leading growth strategies for technology firms in Europe and Asia Pacific. Based in the UK, Rose previously worked at a number of software companies including Veritas Software, Commvault Systems and Informatica. Prior to entering the technology space, Rose was an officer in the British Army for six years.
During 2018, Rose will focus on expanding operations throughout Europe by building a team of experts in lease accounting, real estate management and asset finance. Once established, customer account teams will help companies seeking a software solution for IFRS 16 that requires extensive and complex lease accounting, reporting and compliance in 2019.
“Steven has extensive experience helping U.S.-based tech companies expand and grow their international footprint throughout Europe and Asia,” John Keenan, CRO of LeaseAccelerator, said. “He will be a driving force in helping us to accelerate the adoption of this new cloud-based category of software, Enterprise Lease Accounting, with both listed and private multi-national companies throughout the world. Steven will further bolster LeaseAccelerator’s goal to digitally transform the leasing lifecycle.”
Developed over a period of 10 years by the International Accounting Standards Board (IASB), the new IFRS 16 lease accounting standard changes the way public companies will report leases in their quarterly and annual financial statements. Many equipment and real estate and leases, previously only disclosed in the footnotes of investor filings, will now be capitalized on corporate balance sheets. The IASB estimates that more than $3 trillion of assets and liabilities will transfer onto corporate balance sheets in the coming years. The implementation deadlines for the new standards start in 2019.
“The IFRS 16 lease accounting standard will be a massive shift for the industry as trillions of dollars of real estate and equipment lease assets move onto corporate balance sheets over the coming years,” Rose said. “With many IFRS 16 projects running behind schedule, we believe the market is seeking a more innovative, fast and agile alternative to the incumbent real estate and ERP-centric solutions, which require extensive customization and long implementation timeframes.”
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