Ecologic Leasing Services Renames Company to LeaseAccelerator Services

WASHINGTON, Oct. 15, 2013 /PRNewswire/ -- Ecologic Leasing Services, the LeaseAccelerator SaaS company, today announced it is changing its name to LeaseAccelerator Services. The new name more closely unifies the asset-centric lease accounting software for lessees with the company behind it. The change is effective immediately.

In 2001, Ecologic Leasing Services began work on a web-only, hosted software platform to automate the procure-to-pay cycle for multinational lessees. That was the birth of LeaseAccelerator, said Michael Keeler, CEO at Ecologic Leasing Services. Several years later, when we saw the potential for the software services we had built, we decided to focus 100 percent on the cloud-based delivery model and radically lower our cost to customers by reducing our cost of customer acquisition. Now with this name change, our goal is to align the name of the company with what we do.

The LeaseAccelerator SaaS and its lesseadvocate.com community website are unaffected by this change. LeaseAccelerator Services has changed its corporate website from ecologicleasing.com to http://www.leaseaccelerator.com/.

As part of todays announcement, the company launched a new website at www.leaseaccelerator.com. It includes sophisticated pricing tools that allow customers to explore LeaseAccelerators features, select only the discrete services they need, generate a customized price quote, configure their payment preferences, and even calculate their savings and Return on Investment by manipulating more than 20 variables.

Most finance executives think transitioning to the proposed FASB and IFRS lease accounting standard is simply an unavoidable compliance cost. With LeaseAccelerator, it can be a major cost-savings project with a fast payback. We have the ROI model and case studies with Fortune 500 companies to prove it. Its all on our new website, said Keeler. 

LeaseAccelerator is the leased asset management and FASB lease accounting software popular among controllers, accountants, treasurers, and procurement professionals of corporate lessees due to the ease and speed of enabling stakeholders around the world to maximize economic performance and contribute to accurate and timely financial reporting.

Common uses of LeaseAccelerator include reducing cost of capital on the front-end by bidding lease transactions to lessors registered in the Global Lessor Network, saving 4-8 percent; preventing evergreen leasing on the back-end through automated notifications and timely refresh, saving 4-15 percent; reporting contractual obligations for capital and operating leases under current GAAP; and preparing for the proposed FASB lease accounting standard changes, which requires asset-centric lease accounting and multiple sets of books.

About LeaseAccelerator:

LeaseAccelerator develops, sells, and supports a suite of software services for global equipment lessees called LeaseAccelerator. LeaseAccelerator software services are available today over the web at www.leaseaccelerator.com. In addition to complete lease accounting capabilities for current GAAP and the new FASB standard, LeaseAccelerator offers global capital sourcing for leased equipment including access to The Global Lessor Network (GLN), a community of more than 500 lessors around the world who compete to win our clients business. Using the GLN, global companies with a need for in-country leasing expertise and financing can identify and transact with local lessors.

Since 2001, LeaseAccelerator has supported transactions in 45 countries, spanning a wide variety of asset types, including aircraft, construction, car and truck fleets, energy, industrial, infrastructure, IT, material handling, medical, mining, and networking. Lessors are encouraged to register for the GLN at www.lessornetwork.com.

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SOURCE LeaseAccelerator Services