LONDON, Aug. 22, 2018 /PRNewswire-PRWeb/ -- LeaseAccelerator, the pioneer in Enterprise Lease Accounting software, announced today that Steven Rose has joined the company as its new head of international. Rose brings over 30 years of experience leading growth strategies for technology firms in Europe and Asia Pacific. Based in the United Kingdom, Rose previously worked at a number of software category leaders including Veritas Software, Commvault Systems and Informatica. Prior to entering the technology space, Rose was an officer in the British Army for six years.
During 2018, Rose will focus on expanding operations throughout Europe by building a team of experts in lease accounting, real estate management and asset finance. Once established, customer account teams will help companies seeking a software solution for IFRS 16 that requires extensive and complex lease accounting, reporting and compliance in 2019.
"Steven has extensive experience helping US based tech companies expand and grow their international footprint throughout Europe and Asia," said John Keenan, CRO of LeaseAccelerator. "He will be a driving force in helping us to accelerate the adoption of this new cloud-based category of software, Enterprise Lease Accounting, with both listed and private multi-national companies throughout the world. Steven will further bolster LeaseAccelerator's goal to digitally transform the leasing lifecycle," noted Keenan.
"The IFRS 16 lease accounting standard will be a massive shift for the industry as trillions of dollars of real estate and equipment lease assets move onto corporate balance sheets over the coming years," said Steven Rose, head of international at LeaseAccelerator. "With many IFRS 16 projects running behind schedule, we believe the market is seeking a more innovative, fast and agile alternative to the incumbent real estate and ERP-centric solutions, which require extensive customization and long implementation timeframes."
Developed over a period of ten years by the International Accounting Standards Board (IASB), the new IFRS 16 lease accounting standard changes the way public companies will report leases in their quarterly and annual financial statements. Many real estate and equipment leases, previously only disclosed in the footnotes of investor filings will now be capitalized on corporate balance sheets. The IASB estimates that over $3 Trillion of assets and liabilities will transfer onto corporate balance sheets in the coming years. The implementation deadlines for the new standards start in 2019.
About LeaseAccelerator
LeaseAccelerator offers the market-leading software-as-a-service (SaaS) solution for Enterprise Lease Accounting, enabling compliance with the current and new FASB 842 and IFRS 16 standards. Using LeaseAccelerator's proprietary Global Lease Accounting Engine, customers can apply the new standards to all types of leases, including real estate, fleet, IT and other equipment at the asset level as required by FASB and IASB. On average, LeaseAccelerator's Sourcing and Management applications generate savings of 17 percent with smarter procurement and end-of-term management. Learn more at http://www.leaseaccelerator.com/.
SOURCE LeaseAccelerator
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