Overview

LeaseQuery specializes in lease accounting software that helps businesses manage their lease portfolios and comply with accounting standards like ASC 842, IFRS 16, and GASB 87. The software operates in the cloud, allowing users to access it from anywhere, and includes features such as automated lease classification, tracking of lease modifications, and detailed reporting tools. Unlike many competitors, LeaseQuery focuses on providing a subscription-based service tailored to various business sizes, from Fortune 500 companies to small enterprises, with different pricing tiers based on the number of leases and complexity of needs. The company's goal is to simplify compliance and financial reporting for its clients while offering strong customer support and professional services like training and consulting.

Simplify's Take

What believers are saying

• Increased demand for lease accounting software due to new standards like ASC 842.
• Partnership with Sovos expands offerings for NetSuite customers, broadening the customer base.
• Acquisition of Stackshine enhances SaaS spend management solutions, addressing critical business needs.

What critics are saying

• Increased competition from LeaseAccelerator and Visual Lease pressures LeaseQuery to innovate.
• Integration challenges from Stackshine acquisition may disrupt operations and customer service.
• Partnership with Sovos may not yield expected synergies, leading to resource allocation issues.

What makes LeaseQuery unique

• LeaseQuery specializes in lease accounting software for compliance and financial reporting.
• The company offers a cloud-based solution adhering to ASC 842, IFRS 16, and GASB 87.
• LeaseQuery provides automated lease classification and modification tracking features.

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