LeaseAccelerator Strengths, Domain Expertise, and Key Differentiators
LeaseAccelerator is a Software-as-a-Service provider in the fast-growing Enterprise Lease Accounting software sector.
Companies lease much of the real estate (offices, warehouses, factories) and equipment (computers, vehicles, forklifts, furniture). The average Fortune 500 company leases between 1000 and 10,000 leases representing between $100M and $1B of obligations.Despite the relatively large size and dollar value of these leasing portfolios, most companies use spreadsheets to track these assets.
Unfortunately, spreadsheets usually are not a scalable or reliable method for tracking thousands of assets in hundreds of locations. And many companies struggle to realize the savings they expected from their leasing programs. They cannot return equipment on-time and they pay lots of extra fees around the end of term. LeaseAccelerator is a software application designed specifically for Enterprise Lease Accounting. LeaseAccelerator helps Fortune 500 companies in three areas:
1) Lease Sourcing - Save money on financing terms by more efficiently sourcing new equipment leases 2) Lease Performance - Reduce evergreen fees by proactively managing your leases through end-of-term 3) Lease Accounting - Comply with new IFRS and FASB accounting rules governing leases New Lease Accounting Rules The Financial Accounting Standards Board (US GAAP) and International Accounting Standards Board (IFRS) have announced new lease accounting rules which will require companies to provide much more detail about leases in their quarterly and annual filings (think 10-Qs and 10-Ks).
LeaseAccelerator Recent Developments
In July 2020, LeaseAccelerator launched EZLease Application
In December 2019 LeaseAccelerator released the latest full support for the GASB 87 lease accounting standard. Over the next 12 months, state and local government agencies as well as many state-funded port authorities, educational institutions, hospitals, and health systems will be adopting these new standards.
In February 2019 LeaseAccelerator has developed a testing application called the Lease Accounting Validator that automates the testing of leases under the new ASC 842 and IFRS 16 standards, as well as frozen GAAP.
When the combinations of rent, classifications, financial variables, fiscal calendars, and contract options are considered, there are almost 100 billion possible scenarios that can occur in real estate and equipment leases. Examples of the various elements which drive the different scenarios include the timing and frequency of payments, rent, and contractual modifications as well as the planned and actual end-of-term options.
The Lease Accounting Validator analyzes each lease in a customer’s portfolio to identify the permutations of lease terms and fiscal periods as well as the expected and actual events that occur during the life of a lease. It then automatically executes the processes and reporting needed to calculate and then validate the accuracy of all of the journal entries throughout the lease from the initial commencement to the end of the term. The Validator also automatically analyzes test results to ensure that the calculations tie out.
LeaseAccelerator’s GASB 87 lease accounting functionality enables organizations to comply with the new standards quickly and easily. Designed to automate the record-to-report process, LeaseAccelerator performs the accounting calculations, financial reporting, and month-end close activities required for compliance, enabling users to focus on managing policies, analyses, and exceptions.
In February 2018 developed a testing application called the Lease Accounting Validator that automates the testing of leases under the new ASC 842 and IFRS 16 standards, as well as frozen GAAP.
With the initial deadlines passed on January 1st, 2019, public companies need to know that the lease accounting software they selected works for their specific portfolio, and not just for a handful of generic or illustrative examples. When the combinations of rent, classifications, financial variables, fiscal calendars, and contract options are considered, there are almost 100 billion possible scenarios that can occur in real estate and equipment leases.
Examples of the various elements which drive the different scenarios include the timing and frequency of payments, rent, and contractual modifications as well as the planned and actual end-of-term options. The Lease Accounting Validator analyzes each lease in a customer's portfolio to identify the permutations of lease terms and fiscal periods as well as the expected and actual events that occur during the life of a lease.
It then automatically executes the processes and reporting needed to calculate and then validate the accuracy of all of the journal entries throughout the lease from the initial commencement to the end of a term. The Validator also automatically analyzes test results to ensure that the calculations tie out.
LeaseAccelerator Mergers and Acquisitions (M&A) Activities
In July 2019 LeaseAccelerator acquired Guardian Global Systems, an Australian-based provider of Real Estate Administration SaaS to commercial and government organizations. Guardian Global will extend LeaseAccelerator’s portfolio of applications with an innovative solution to help real estate leaders manage the complexities of building, land, and property contracts, both leased and owned. The combination of LeaseAccelerator and Guardian Global will offer a unique suite of applications to meet the needs of both the Controller and the Corporate Real Estate organizations.
LeaseAccelerator Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying LeaseAccelerator applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of LeaseAccelerator and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified LeaseAccelerator customers.
Ownership: - Insight Venture Partners
Number of Employees: 180
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communication, Construction, Real Estate, Consumer Packaged Goods, Distribution, K54, Higher Education, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Media, Faith-Based Nonprofit, Youth and Elderly Care, Special Cause Nonprofit, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
LeaseAccelerator Key Enterprise and Cloud Applications
LeaseAccelerator Revenues, $M:
|Type/Year||2020||2021||YoY Growth, %|
|Total Revenues, $M||Subscribe||Subscribe||Subscribe|
|Enterprise Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
|Cloud Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
LeaseAccelerator Revenue Breakdown By Type, $M:
|Type||License||Prof. Services||Hardware||Support & Maintenance||SaaS||PaaS||IaaS||Other (Non Enterprise Application Revenues)||Total|
|% of Total Revenues||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||100%|
LeaseAccelerator Enterprise Applications Revenues By Functional Markets, $M:
LeaseAccelerator Enterprise Applications Revenues By Verticals, $M:
LeaseAccelerator Revenues By Region, $M
|Region||% of Total Revenues||2021 Total Revenues, $M||2021 Enterprise Applications Revenues, $M||2021 Cloud Applications Revenues, $M|
LeaseAccelerator Direct vs Indirect sales
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LeaseAccelerator Customers - Breakdown by Geo, Size, Vertical and Product
No. of LeaseAccelerator Customers: 500
No. of LeaseAccelerator Enterprise Applications Customers: x
No. of LeaseAccelerator Cloud Customers: x
No. of LeaseAccelerator Cloud Subscribers: 3000
In January 2019, over 50 Oracle-centric companies have selected its SaaS application LeaseAccelerator to comply with the new IFRS 16 and ASC 842 standards. LeaseAccelerator lease accounting engine and dedicated subledger can be easily integrated with Oracle's ERP platforms, including Oracle E-Business Suite, PeopleSoft, JD Edwards and their new Fusion applications.
Among the 500+ LeaseAccelerator customers are, Cisco, Cummins, Genesee and Wyoming, NetApp, Eaton.
LeaseAccelerator Market Opportunities, M&A and Geo Expansions
In June 2018 LeaseAccelerator received a $30M investment from Insight Venture Partners, a New York-based venture capital and private equity firm. The new financing round will be used to fund the company's product roadmap, partner ecosystem and international expansion as LeaseAccelerator continues to pursue its tremendous growth in the Enterprise Lease Accounting software market. Following a year of record growth in which LeaseAccelerator tripled revenues and quadrupled its customer base, the company will use the new funding to accelerate its growth strategy.
LeaseAccelerator will expand its international operations to better support multinational customers. Additionally, the company will invest in expanded training, technical support and success programs for its customers. LeaseAccelerator will also significantly expand its R&D organization to support a wider variety of industry-specific use cases.
LeaseAccelerator Risks and Challenges
Trillions of dollars in new leases will appear as assets and liabilities on the balance sheet in the next few years as a result of the new lease accounting standards. With these new assets and liabilities, various financial metrics could change significantly for some companies, potentially impacting business relationships with shareholders, bondholders, lenders, and credit rating agencies.
LeaseAccelerator Ecosystem, Partners, Resellers and SI
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.
In January 2019 LeaseAccelerator and Armanino have partnered to support the LeaseAccelerator global alliance program. Armanino LLP is one of the top 25 largest independent accounting and business consulting firms in the US. Following its success supporting the adoption of the new revenue recognition standards, Armanino has built a practice to assist clients with assessment, strategy, and implementation of the new ASC 842 lease accounting standards.
Among LeaseAccelerator other partners are, RGP, PwC, Vaco, Genpact, RSM, Riveron Consulting, Armanino, Pinehill, SAP, and many others.
LeaseAccelerator Cloud Infrastructure Insights
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- LeaseAccelerator Public Cloud and Infrastructure (IaaS)
- LeaseAccelerator Platform (PaaS)
- LeaseAccelerator Application Delivery
- LeaseAccelerator Private Cloud and Data Centers
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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