LeaseAccelerator was recognized as one of 2017’s Top 25 Procurement Solution Providers by CIO Applications magazine. The annual list of companies is selected by a panel of experts and members of CIO Applications’ editorial board to recognize and promote technology entrepreneurship. LeaseAccelerator’s recognition is based upon the continued innovation it has introduced to its Equipment Lease Sourcing application and the Global Lessor Network.

LeaseAccelerator allows procurement organizations to capture savings on leasing programs for office equipment, material handling, data center technology, aircrafts and other types of equipment. LeaseAccelerator’s Sourcing application offers:

• Lease versus Buy Analysis – Buyers input details about the assets being acquired and the desired financing terms. The application generates breakeven analyses, cash flow analyses, tax deduction summaries and net present value comparisons for both options: lease and buy.
• Automated RFP Generation – LeaseAccelerator enables buyers to automatically generate a specialized RFP for sourcing capital from a competitive marketplace of leasing companies. Bids received through the platform are automatically analyzed and ranked for side-by-side comparison.
• Competitive Bidding – In addition to being shared with a customer’s preferred lessors, RFPs can be distributed for competitive bidding to the Global Lessor Network – a community of over 500 commercial banks, vendor captives and independent leasing companies. The Global Lessor Network offers access to new sources of capital for a variety of ticket sizes, credits and geographic markets.

“Many companies are now rethinking how they source leases as they prepare for a new set of accounting standards. These new standards will require companies to have a complete inventory of their leases in a single, centralized database in order to control the process,” said Michael Keeler, CEO of LeaseAccelerator. “We believe that the inefficiencies with current leasing programs will become more visible and Procurement, Treasury and Controllership will begin to seek out a continuous return on the compliance project. The CPOs who adopted best practices have established competitive lease sourcing as a horizontal spend category.”

By automating best practices for procurement, including vendor RFPs, competitive bidding, proposal analysis and ranking, and contract standardization, companies can reduce their leasing costs by 6% to 8%. The savings achieved through competitive sourcing can offset the costs to implement the new ASC 842 and IFRS 16 accounting standards.

“We are glad to announce LeaseAccelerator as one among the Top 25 Procurement Solution Providers 2017. LeaseAccelerator has long been a leading player in the procurement landscape, and their progress and advancement in the industry is highly impressive. We are pleased to recognize LeaseAccelerator for its zeal to transform the way corporations finance equipment through its cloud-based Enterprise Lease Sourcing application,” said Joe Phillip, managing editor of CIO Applications.

LeaseAccelerator offers a SaaS solution for enterprise lease accounting, enabling compliance with SOX, SEC and current and new FASB and IFRS standards. Using LeaseAccelerator’s proprietary asset-based Global Lease Accounting Engine, customers can account for all categories of leases including real estate, fleet, IT, material handling and other equipment at an asset level.