LeaseAccelerator

About LeaseAccelerator

LeaseAccelerator, a subsidiary of insightsoftware, operates as a provider of enterprise lease lifecycle automation software. Founded in 2003 by Michael Keeler, the company was established with the goal of creating the first software application to automate end-to-end business processes for enterprise lease management, specifically targeting lessees—the corporations using the leased assets. Keeler, with over 20 years of experience in building software businesses, previously founded DataZen and Ecologic Corporation and served as President of Onmark Corporation, an international IT leasing company.

The company operates on a Software-as-a-Service (SaaS) business model, generating revenue from subscription fees rather than perpetual licenses. This model aligns the company's success with its customers' ability to achieve their business objectives. LeaseAccelerator primarily serves large enterprises, mid-market companies, and SMBs across various industries, including manufacturing, real estate, and finance. A key driver for market demand has been the introduction of new lease accounting standards like ASC 842 and IFRS 16, which require companies to transfer significant lease obligations onto their balance sheets.

The core offering is a cloud-based platform designed to manage the entire lifecycle of both real estate and equipment leases. Its features include automating lease versus buy analysis, competitive sourcing for equipment financing through a network of over 500 lessors, and digitizing workflows for property lease renewals. The platform functions as a true subledger, generating the necessary journal entries for a company's general ledger and providing audit trails for compliance. It ensures compliance with accounting standards such as ASC 842, IFRS 16, and GASB 87 by automating calculations and reporting. The system is designed to integrate with major ERP and accounting platforms like SAP, Oracle, and Workday, ensuring data synchronization and accurate reporting. By centralizing lease data and automating processes, the software aims to improve cash flow, reduce administrative costs, and provide greater visibility into a company's lease portfolio. A significant milestone for the company occurred on July 11, 2024, when it was acquired by insightsoftware, a global provider of solutions for the Office of the CFO.