Our innovations have helped 120 businesses with a total of 50,000+ employees adopt the new ASC 842 accounting standard. Complying with the standard helps those companies stay ahead in business by easing compliance with lenders’ financial requirements for loan obligations.
This lease accounting requirement relates to meeting a GAAP financial reporting standard required by the Financial Accounting Standards Board, which is now mandatory for all private and public companies. It’s an onerous proposition for small- to mid-size businesses trying to recover financially from the global pandemic with reduced and remote business staff.
Customer feedback shows how Leasecake has lifted the burden of accounting compliance that weighed on back-office teams. As a result, we’ve helped them focus on revenue-generating operations to recover financially and improve efficiencies.
Thanks to the innovation processes in place at Leasecake, we’re ranked as a leader in Lease Accounting implementation, surpassing legacy providers that have been in business for more than 20 years.
In total, G2 awarded Leasecake eight badges in Lease Accounting in the Fall 2022 quarterly report:
• Easiest to Use in Lease Accounting
• High Performer for Lease Accounting
• Highest User Adoption
• Fastest Implementation / Go Live Time
• Easiest Setup
• Best Meets Requirements
• Most Implementable
• Easiest Admin for Lease Accounting
To learn why Leasecake is a high-ranking lease accounting solution on G2, we invite you to schedule a free consultation today.