LeaseAccelerator Continues Growth with Oracle-Centric Companies
JAN 22, 2019 - 7:20 am
Over 50 Oracle-centric companies have selected LeaseAccelerator’s SaaS application to comply with the new IFRS 16 and ASC 842 standards.
LeaseAccelerator offers a global lease accounting engine and dedicated subledger that can be easily integrated with Oracle’s ERP platforms, including Oracle E-Business Suite, PeopleSoft, JD Edwards and their new Fusion applications.
LeaseAccelerator’s Enterprise Lease Accounting solution for Oracle enables companies to not only comply by the deadlines, but to build a long-term, sustainable approach to lease accounting under the new standards. LeaseAccelerator was designed to enable companies to automate the record-to-report process for lease accounting. Automation not only reduces the number of incremental headcount required for lease accounting, but it reduces the time-to-close and lowers audit risk.
“Most lease accounting software providers are focused on offering the minimum viable product needed for compliance for day one,” said Mike Ramsey, vice president of global solutions for LeaseAccelerator. “But the bigger challenge is achieving long-term, sustainable compliance on day two and beyond. Companies need to think about how to automate time consuming processes such as tracking modifications to lease contracts, making end of term recordations, and ensuring completeness of the lease portfolio.”
LeaseAccelerator is a certified Oracle Gold Level Partner and member of the Oracle Partner Network. The Enterprise Lease Accounting application is built upon Oracle technologies, including Java and Oracle Database, and runs in the Oracle Cloud.
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