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LeaseAccelerator helps businesses streamline their lease management process, allowing them to efficiently perform a range of tasks such as …
Overview
What is LeaseAccelerator?
LeaseAccelerator provides enterprise lease lifecycle automation software that ensures long-term compliance, improves operational efficiency, and frees up cash flow. The vendor states their Software-as-a-Service (SaaS) platform currently manages and automates 800,000 real estate and equipment leases valued at $200 billion across 5 million assets…
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What is LeaseAccelerator?
LeaseAccelerator provides enterprise lease lifecycle automation software that ensures long-term compliance, improves operational efficiency, and frees up cash flow. The vendor states their Software-as-a-Service (SaaS) platform currently manages and automates 800,000 real estate and equipment…
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Product Details
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- Integrations
- Competitors
- Tech Details
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What is LeaseAccelerator?
LeaseAccelerator provides enterprise lease lifecycle automation software that ensures long-term compliance, improves operational efficiency, and frees up cash flow. The vendor states their Software-as-a-Service (SaaS) platform currently manages and automates 800,000 real estate and equipment leases valued at $200 billion across 5 million assets in 172 countries that generated 8 billion journal entries.
LeaseAccelerator presents its platform as a solution for growth, with a starting point for every company, regardless of size and maturity. LeaseAccelerator boasts decades of experience centrally managing lease data and automating manual processes such as validation and reporting. It enables users to streamline compliance and use business insights to optimize lease processes. Offering customer-first approach, the solution includes get in-app help with Ask Alex, responsive live support, access to lease accounting expertise, and a network of trusted partners to help get the most out of the investment.
LeaseAccelerator Features
- Supported: Competitive sourcing
- Supported: Real estate administration
- Supported: ERP integration
- Supported: Dual reporting for ASC 842 and IFRS 16
- Supported: True accounting close with adjusting entries
- Supported: Single sign on
- Supported: Foreign currency translation
- Supported: Supports complex payment structures and schedules
- Supported: Subledger
- Supported: Automated record-to-report
LeaseAccelerator Integrations
LeaseAccelerator Competitors
LeaseAccelerator Technical Details
| Deployment Types | Software as a Service (SaaS), Cloud, or Web-Based |
|---|---|
| Operating Systems | Unspecified |
| Mobile Application | No |
| Supported Countries | Global |
| Supported Languages | Interface is in English; supports leases entered in double-byte and international character sets |
LeaseAccelerator Downloadables
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Community Insights
TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!
- Business Problems Solved
- Pros
- Cons
- Recommendations
LeaseAccelerator helps businesses streamline their lease management process, allowing them to efficiently perform a range of tasks such as renewals, holdovers, and updates. By providing a centralized platform for recording lease assets and generating accounting based on the current accounting standard policy, it ensures that compliance with ASC 842 and IFRS 16 accounting standards are met while minimizing errors in recording leases.
The product also simplifies the lease vs. buy analysis process by ensuring all leases go through a standardized review process before inception. LeaseAccelerator provides scalability and accuracy in solutions to ASC 842 accounting and reporting, making tracking, maintaining, and reporting leases easier than manual spreadsheets. The product's semi-repository of lease agreements and additional reporting tools aid in quarterly footnote disclosure and internal reporting requirements. Users enjoy the useful reports LeaseAccelerator offers, including customizable BYOR reports that can be manipulated within the user interface. The platform provides an effective solution for meeting the requirements of multiple accounting standards while ensuring accurate tracking of lease payments for all locations and automating all balance sheet accounting required for the company.
User-friendly Interface: Many users appreciate the user-friendly interface of LeaseAccelerator (mentioned by several reviewers), including the search bar, customizable reporting templates, and bulk import ability. This makes navigating the tool easy and efficient for tracking events in the lease lifecycle for audit purposes.
Efficient Reporting: The various reports provided by LeaseAccelerator make life easier for many users. Reports such as Deal Summary, Maturity Analysis Reports, Quantitative Analysis, and Payment Schedule Report are particularly helpful in generating journal entries to be loaded into ERP systems. Additionally, running monthly reports and dashboards is a favorite feature that provides reliable calculations.
Exceptional Customer Support: Several reviewers have praised LeaseAccelerator's customer support team (noted by multiple users) for being attentive, knowledgeable, quick to respond with high availability and going above-and-beyond to ensure all questions were answered efficiently. Technical support was also found to be efficient in addressing issues through an easy-to-create case ticket system and training videos database that was easy to follow.
Limited Customization Options: Several users have expressed that the customization options in LeaseAccelerator are limited, which makes it difficult to record complicated cases and perform accounting correctly.
Unhelpful Technical Support: Some users have experienced issues with the technical support team of LeaseAccelerator, claiming they are unhelpful and take a long time to provide updates or resolve issues. Additionally, some users feel that the support team is not sensitive to how their upgrades affect the systems of their customers.
Confusing User Interface: Many reviewers found the user interface of LeaseAccelerator confusing and not user-friendly, making it challenging to perform tasks quickly and efficiently.
LeaseAccelerator, a popular lease compliance software, receives several key recommendations from users. Firstly, users recommend taking advantage of the available resources such as videos and guides to navigate the interface effectively. They suggest investing time in learning the software and utilizing support materials.
Secondly, it is suggested to ensure that there are sufficient staff members with the necessary knowledge to understand and work through the system. This ensures a smooth implementation and ongoing management process.
Lastly, users highly recommend LeaseAccelerator for lease accounting management. They advise comparing different providers, pricing, and reporting features to determine the best fit for the company. Additionally, accurately identifying and entering all lease assets in the system from the start is recommended to avoid future issues.
Overall, LeaseAccelerator is praised for its user-friendliness, accessibility, knowledgeable customer service, and training materials availability. Users find it easy to set up and use, making it a promising tool for lease management.