LeaseAccelerator

Score7.1 out of 10

4 Reviews and Ratings

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.

Categories & Use Cases

Verified User

Consultant (11-50 employees employees)

Use Cases and Deployment Scope

LeaseAccelerator is responsible for performing the lease accounting activities that are to be interfaced with [...] Environments specially Oracle. The tool is being supported by the LeaseAccelerator organization itself. [...] has a couple of boundary apps wherein they will be storing the leases with respect to Real estate and fleet. These boundary apps will be sending data to LeaseAccelerator. Lease accounting will be responsible for going ahead and accounting these leases and then generate invoices which will then be sent to Oracle for payments. We also have journals that will flow from the LeaseAccelerator to Oracle. [...] will perform the payment in Oracle for any accounting that is made for real estate and fleet Invoices.

Pros

Search and validation of lease information in LeaseAccelerator.
User Maintenance
Access Management
Lessor invoice processing error in LeaseAccelerator

Cons

CA recon files
NA
NA

Return on Investment

Lease data import error handling is done very well by using LeaseAccelerator
GL Ledger segment validation : Integration issues between Oracle ERP and LeaseAccelerator w.r.t. GL posting is done very well using LeaseAccelerator
Fx Rate related Issues between Oanda and LeaseAccelerator is solved using LeaseAccelerator