Over 60 SAP-centric companies have selected LeaseAccelerator’s SaaS application to manage and account for their portfolio of leases and assets.

LeaseAccelerator offers a global lease accounting engine and lease management application that can be easily integrated with SAP’s general ledger, accounts payable, and real estate applications.

“We’ve seen hundreds of large companies transition to ASC 842 and IFRS 16 over the past few months and controllers realize that they cannot successfully perform lease accounting without also having strong lease administration capabilities in place,” said Mike Ramsey, vice president of Global Solutions for LeaseAccelerator. “Without the ability to automate the tracking of new leases, contract modifications, and end-of-term decisions, controllers cannot ensure the accuracy, completeness, or timeliness of their accounting and financial reporting.”

LeaseAccelerator’s SAP Lease Accounting Solution offers a lower total cost of ownership for accounting teams by reducing the level of manual effort and spreadsheets required for the record-to-report process, along with:

• Automated tracking of changes to lease contracts, updates to variable rent and end of term decisions ensures potential modifications and reassessments triggers are always identified.

• Financial controls such as centralized policy management, automated end-user attestations, process-wide audit trails, and lease versus buy analysis ensure auditability of management’s attestations about the accounting.

• Roll forward reporting and SAP general ledger integration reduce the number of reconciliations and the time required to perform monthly close.

• Multi-tenant cloud environment to free IT teams from burdensome tasks such as database administration, system health monitoring and environment configuration.

• Managed upgrades to ensure all clients get accelerated access to the latest product enhancements without having to reprioritize resources.

• Automated validation of testing to ensure the accuracy of accounting after new releases to reduce the level of regression testing required by IT teams.