LeaseAccelerator Releases Major Update to Lease Lifecycle Automation Platform
SEP 16, 2021 - 6:15 am
LeaseAccelerator announced a 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,” Michael Keeler, CEO of LeaseAccelerator, said.
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